Pathway Financial Advisers LLC Acquires Shares of 2,951 Republic Services, Inc. (NYSE:RSG)

Pathway Financial Advisers LLC purchased a new position in Republic Services, Inc. (NYSE:RSG) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,951 shares of the business services provider’s stock, valued at approximately $565,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital World Investors grew its stake in shares of Republic Services by 416.9% in the fourth quarter. Capital World Investors now owns 6,562,420 shares of the business services provider’s stock worth $1,082,209,000 after purchasing an additional 5,292,862 shares during the last quarter. Norges Bank bought a new stake in Republic Services during the fourth quarter worth $358,837,000. TD Asset Management Inc grew its position in Republic Services by 424.7% during the first quarter. TD Asset Management Inc now owns 1,722,107 shares of the business services provider’s stock valued at $329,680,000 after buying an additional 1,393,918 shares during the period. M&G Plc bought a new position in Republic Services during the first quarter valued at $130,892,000. Finally, Corient Private Wealth LLC raised its position in shares of Republic Services by 136.5% in the fourth quarter. Corient Private Wealth LLC now owns 361,900 shares of the business services provider’s stock valued at $59,681,000 after purchasing an additional 208,902 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Activity

In related news, Director Katharine Weymouth bought 540 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were acquired at an average price of $185.26 per share, with a total value of $100,040.40. Following the completion of the acquisition, the director now owns 540 shares in the company, valued at approximately $100,040.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Republic Services news, Director Katharine Weymouth acquired 540 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were purchased at an average cost of $185.26 per share, with a total value of $100,040.40. Following the purchase, the director now owns 540 shares in the company, valued at $100,040.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Amanda Hodges sold 6,500 shares of Republic Services stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the completion of the sale, the chief marketing officer now directly owns 6,831 shares of the company’s stock, valued at $1,270,702.62. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on RSG shares. Royal Bank of Canada upped their target price on Republic Services from $201.00 to $211.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft assumed coverage on Republic Services in a research report on Thursday, May 23rd. They issued a “hold” rating and a $203.00 target price for the company. Raymond James decreased their price target on shares of Republic Services from $219.00 to $214.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. CIBC raised their price target on Republic Services from $196.00 to $208.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Finally, UBS Group upped their price target on Republic Services from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.69.

Republic Services Trading Up 1.2 %

NYSE RSG traded up $2.46 on Friday, reaching $200.00. The stock had a trading volume of 1,634,452 shares, compared to its average volume of 1,325,030. The stock has a fifty day moving average price of $193.12 and a two-hundred day moving average price of $186.91. Republic Services, Inc. has a 12-month low of $140.23 and a 12-month high of $206.54. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $62.81 billion, a price-to-earnings ratio of 35.09, a P/E/G ratio of 3.18 and a beta of 0.69.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Tuesday, April 30th. The business services provider reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.10. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. The company had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same period last year, the firm earned $1.24 earnings per share. Republic Services’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts forecast that Republic Services, Inc. will post 6.17 EPS for the current fiscal year.

Republic Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be given a dividend of $0.58 per share. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. The ex-dividend date is Wednesday, October 2nd. This represents a $2.32 annualized dividend and a yield of 1.16%. Republic Services’s payout ratio is 37.54%.

About Republic Services

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States and Canada. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.