Patrick M Sweeney & Associates Inc. Makes New $313,000 Investment in Republic Services, Inc. (NYSE:RSG)

Patrick M Sweeney & Associates Inc. bought a new position in Republic Services, Inc. (NYSE:RSG) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,897 shares of the business services provider’s stock, valued at approximately $313,000.

Several other hedge funds have also modified their holdings of RSG. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Republic Services by 0.3% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,150 shares of the business services provider’s stock worth $4,147,000 after purchasing an additional 66 shares during the last quarter. Parcion Private Wealth LLC grew its position in shares of Republic Services by 0.3% during the 4th quarter. Parcion Private Wealth LLC now owns 23,808 shares of the business services provider’s stock worth $3,926,000 after buying an additional 68 shares during the period. Stokes Family Office LLC increased its stake in shares of Republic Services by 2.2% in the 3rd quarter. Stokes Family Office LLC now owns 3,209 shares of the business services provider’s stock valued at $457,000 after acquiring an additional 70 shares during the last quarter. WASHINGTON TRUST Co raised its position in shares of Republic Services by 4.5% in the 4th quarter. WASHINGTON TRUST Co now owns 1,620 shares of the business services provider’s stock valued at $267,000 after acquiring an additional 70 shares during the period. Finally, Greenleaf Trust boosted its stake in Republic Services by 1.6% during the 3rd quarter. Greenleaf Trust now owns 4,504 shares of the business services provider’s stock worth $642,000 after acquiring an additional 72 shares during the last quarter. 57.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group increased their target price on shares of Republic Services from $209.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. BMO Capital Markets boosted their target price on Republic Services from $173.00 to $195.00 and gave the company a “market perform” rating in a research note on Wednesday, February 28th. Oppenheimer raised their price target on Republic Services from $202.00 to $204.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Royal Bank of Canada assumed coverage on Republic Services in a research note on Monday, April 8th. They set a “sector perform” rating and a $198.00 target price for the company. Finally, Wells Fargo & Company lifted their price target on shares of Republic Services from $180.00 to $188.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.00.

Insider Buying and Selling at Republic Services

In other Republic Services news, CMO Amanda Hodges sold 6,500 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were 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 in the company, valued at $1,270,702.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CMO Amanda Hodges sold 6,500 shares of the stock in a transaction 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 sale, the chief marketing officer now directly owns 6,831 shares of the company’s stock, valued at approximately $1,270,702.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Ark Jon Vander sold 5,446 shares of Republic Services stock in a transaction on Monday, March 4th. The shares were sold at an average price of $184.10, for a total value of $1,002,608.60. Following the completion of the transaction, the chief executive officer now owns 85,113 shares in the company, valued at approximately $15,669,303.30. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Republic Services Stock Up 1.0 %

NYSE RSG traded up $1.85 during trading hours on Tuesday, hitting $188.56. 1,061,971 shares of the company traded hands, compared to its average volume of 1,253,788. The stock has a market capitalization of $59.38 billion, a price-to-earnings ratio of 33.08, a P/E/G ratio of 3.22 and a beta of 0.67. Republic Services, Inc. has a twelve month low of $140.07 and a twelve month high of $196.76. The business’s 50-day moving average is $188.14 and its 200-day moving average is $172.87. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.53 and a current ratio of 0.53.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Tuesday, April 30th. The business services provider reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.10. The firm had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Republic Services had a net margin of 11.81% and a return on equity of 17.56%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.24 earnings per share. Sell-side analysts anticipate that Republic Services, Inc. will post 6.05 earnings per share for the current year.

Republic Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Tuesday, July 2nd will be paid a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Tuesday, July 2nd. Republic Services’s dividend payout ratio (DPR) is presently 37.54%.

Republic Services Profile

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.