Republic Services, Inc. $RSG Shares Bought by New York Life Investment Management LLC

New York Life Investment Management LLC grew its stake in shares of Republic Services, Inc. (NYSE:RSG) by 2.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,679 shares of the business services provider’s stock after acquiring an additional 580 shares during the period. New York Life Investment Management LLC’s holdings in Republic Services were worth $6,826,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC raised its position in shares of Republic Services by 3,533.3% during the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider’s stock worth $26,000 after purchasing an additional 106 shares during the last quarter. Cranbrook Wealth Management LLC raised its position in shares of Republic Services by 1,222.2% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider’s stock worth $29,000 after purchasing an additional 110 shares during the last quarter. Key Financial Inc raised its position in shares of Republic Services by 380.8% during the 1st quarter. Key Financial Inc now owns 125 shares of the business services provider’s stock worth $30,000 after purchasing an additional 99 shares during the last quarter. TCTC Holdings LLC raised its position in shares of Republic Services by 113.8% during the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider’s stock worth $30,000 after purchasing an additional 66 shares during the last quarter. Finally, Elequin Capital LP acquired a new position in shares of Republic Services during the 1st quarter worth approximately $30,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Stock Down 3.3%

Shares of NYSE RSG opened at $210.46 on Thursday. Republic Services, Inc. has a 52-week low of $197.60 and a 52-week high of $258.75. The firm has a fifty day moving average of $226.67 and a 200-day moving average of $238.17. The stock has a market capitalization of $65.71 billion, a PE ratio of 31.13, a P/E/G ratio of 3.52 and a beta of 0.59. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.04.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.01. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The company had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.26 billion. During the same period in the previous year, the company earned $1.61 EPS. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Friday, January 2nd will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.50 annualized dividend and a dividend yield of 1.2%. Republic Services’s payout ratio is currently 36.98%.

Insider Buying and Selling at Republic Services

In related news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the stock in a transaction dated Tuesday, August 19th. The stock was bought at an average cost of $234.91 per share, with a total value of $1,000,246.78. Following the purchase, the insider directly owned 109,816,832 shares of the company’s stock, valued at approximately $25,797,072,005.12. This represents a 0.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Gregg Brummer sold 7,338 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $233.94, for a total transaction of $1,716,651.72. Following the sale, the executive vice president directly owned 4,060 shares of the company’s stock, valued at $949,796.40. This represents a 64.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.11% of the stock is owned by insiders.

Wall Street Analyst Weigh In

RSG has been the subject of several research reports. Raymond James Financial set a $260.00 price objective on Republic Services and gave the stock an “outperform” rating in a research report on Monday, October 6th. UBS Group cut their price objective on Republic Services from $260.00 to $240.00 and set a “neutral” rating for the company in a research report on Thursday, October 16th. Oppenheimer lowered their target price on shares of Republic Services from $268.00 to $263.00 and set an “outperform” rating for the company in a research note on Wednesday, October 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Republic Services in a research note on Wednesday, October 8th. Finally, Citigroup lowered their target price on shares of Republic Services from $280.00 to $270.00 and set a “buy” rating for the company in a research note on Wednesday, September 17th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, Republic Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $257.10.

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.