Republic Services, Inc. $RSG Shares Sold by London Co. of Virginia

London Co. of Virginia lessened its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 5.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 360,886 shares of the business services provider’s stock after selling 22,612 shares during the period. London Co. of Virginia’s holdings in Republic Services were worth $79,041,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC acquired a new stake in Republic Services during the 4th quarter worth about $25,000. Wealth Watch Advisors INC acquired a new position in shares of Republic Services in the 3rd quarter valued at about $26,000. Prosperity Bancshares Inc acquired a new position in shares of Republic Services in the 4th quarter valued at about $30,000. Sound Income Strategies LLC purchased a new stake in shares of Republic Services in the fourth quarter worth about $32,000. Finally, Hilton Head Capital Partners LLC acquired a new stake in Republic Services during the fourth quarter worth about $32,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RSG has been the subject of a number of analyst reports. Argus downgraded Republic Services from a “buy” rating to a “hold” rating in a report on Monday, May 11th. Citigroup raised their price objective on shares of Republic Services from $247.00 to $259.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. UBS Group cut their target price on shares of Republic Services from $240.00 to $223.00 and set a “neutral” rating for the company in a report on Tuesday, May 12th. Royal Bank Of Canada increased their price target on shares of Republic Services from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Finally, Weiss Ratings lowered shares of Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Eleven research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $243.89.

Insiders Place Their Bets

In related news, major shareholder Cascade Investment, L.L.C. bought 366,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was acquired at an average price of $202.24 per share, with a total value of $74,019,840.00. Following the completion of the purchase, the insider directly owned 110,315,982 shares of the company’s stock, valued at approximately $22,310,304,199.68. This trade represents a 0.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sandra M. Volpe sold 1,800 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $211.28, for a total transaction of $380,304.00. Following the transaction, the director owned 58 shares of the company’s stock, valued at approximately $12,254.24. This trade represents a 96.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have acquired 987,150 shares of company stock valued at $202,366,682 over the last 90 days. 0.12% of the stock is currently owned by company insiders.

Republic Services Stock Performance

Shares of RSG stock opened at $216.79 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11. Republic Services, Inc. has a 12-month low of $196.41 and a 12-month high of $246.25. The business’s 50 day moving average is $212.24 and its two-hundred day moving average is $214.85. The company has a market capitalization of $66.70 billion, a P/E ratio of 31.10, a P/E/G ratio of 3.63 and a beta of 0.40.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.06. The business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.10 billion. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The business’s revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.58 earnings per share. Analysts expect that Republic Services, Inc. will post 7.29 EPS for the current fiscal year.

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd were issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Thursday, July 2nd. Republic Services’s payout ratio is presently 35.87%.

About Republic Services

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.