Republic Services, Inc. (NYSE:RSG) Stock Position Lowered by Park Place Capital Corp

Park Place Capital Corp lessened its position in Republic Services, Inc. (NYSE:RSG) by 7.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,466 shares of the business services provider’s stock after selling 461 shares during the period. Park Place Capital Corp’s holdings in Republic Services were worth $1,046,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Bogart Wealth LLC acquired a new position in shares of Republic Services in the 4th quarter worth $30,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Republic Services in the fourth quarter worth about $34,000. Jones Financial Companies Lllp lifted its position in shares of Republic Services by 3,014.3% in the fourth quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider’s stock worth $36,000 after buying an additional 211 shares during the last quarter. BKM Wealth Management LLC acquired a new position in shares of Republic Services during the 4th quarter worth about $37,000. Finally, Bruce G. Allen Investments LLC acquired a new position in shares of Republic Services during the 4th quarter worth about $41,000. Institutional investors own 57.73% of the company’s stock.

Republic Services Price Performance

NYSE RSG traded down $1.46 during trading hours on Monday, reaching $192.88. 1,185,802 shares of the company’s stock were exchanged, compared to its average volume of 1,198,040. The stock has a market cap of $60.74 billion, a PE ratio of 33.84, a price-to-earnings-growth ratio of 3.26 and a beta of 0.69. Republic Services, Inc. has a one year low of $140.23 and a one year high of $196.76. The firm has a fifty day moving average of $188.74 and a 200-day moving average of $181.33. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.05.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Tuesday, April 30th. The business services provider reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.10. Republic Services had a return on equity of 17.56% and a net margin of 11.81%. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same period in the prior year, the company earned $1.24 EPS. Republic Services’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities research analysts predict that Republic Services, Inc. will post 6.05 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, July 2nd will be issued a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 1.11%. The ex-dividend date is Tuesday, July 2nd. Republic Services’s dividend payout ratio is 37.54%.

Analyst Ratings Changes

RSG has been the subject of several research analyst reports. The Goldman Sachs Group boosted their price objective on Republic Services from $209.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. UBS Group boosted their price target on Republic Services from $195.00 to $200.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Oppenheimer boosted their price target on Republic Services from $202.00 to $204.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Scotiabank boosted their price target on Republic Services from $211.00 to $213.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 1st. Finally, Jefferies Financial Group boosted their price target on Republic Services from $213.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $201.14.

Insider Activity

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

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.