4,556 Shares in Republic Services, Inc. $RSG Purchased by Soundwatch Capital LLC

Soundwatch Capital LLC bought a new stake in shares of Republic Services, Inc. (NYSE:RSG) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,556 shares of the business services provider’s stock, valued at approximately $1,124,000.

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Republic Services by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 19,057,995 shares of the business services provider’s stock valued at $4,699,892,000 after purchasing an additional 296,719 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Republic Services by 0.7% during the first quarter. Wellington Management Group LLP now owns 5,939,202 shares of the business services provider’s stock valued at $1,438,237,000 after acquiring an additional 42,019 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Republic Services by 0.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,335,515 shares of the business services provider’s stock worth $1,292,050,000 after acquiring an additional 17,711 shares during the last quarter. Geode Capital Management LLC lifted its position in Republic Services by 3.1% in the 2nd quarter. Geode Capital Management LLC now owns 4,821,387 shares of the business services provider’s stock valued at $1,187,328,000 after purchasing an additional 144,003 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Republic Services by 4.3% during the 1st quarter. JPMorgan Chase & Co. now owns 2,872,235 shares of the business services provider’s stock valued at $695,541,000 after purchasing an additional 119,158 shares during the period. Institutional investors own 57.73% of the company’s stock.

Republic Services Price Performance

NYSE RSG opened at $219.21 on Friday. Republic Services, Inc. has a 1 year low of $199.43 and a 1 year high of $258.75. The business’s fifty day moving average is $218.89 and its two-hundred day moving average is $233.87. The stock has a market capitalization of $67.86 billion, a P/E ratio of 32.43, a P/E/G ratio of 3.40 and a beta of 0.57. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66.

Republic Services (NYSE:RSG) last issued its earnings results on Friday, October 31st. The business services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.12. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The business had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.25 billion. During the same period in the previous year, the firm posted $1.81 EPS. The company’s quarterly revenue was up 3.3% on a year-over-year basis. On average, research analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, January 2nd. Republic Services’s dividend payout ratio (DPR) is presently 37.20%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RSG. Weiss Ratings restated a “buy (b-)” rating on shares of Republic Services in a research note on Wednesday. Scotiabank lowered their target price on Republic Services from $250.00 to $246.00 and set a “sector perform” rating on the stock in a research report on Friday, October 31st. Wells Fargo & Company assumed coverage on Republic Services in a research report on Thursday, November 13th. They set an “overweight” rating and a $238.00 price target for the company. Stifel Nicolaus reduced their price objective on shares of Republic Services from $257.00 to $251.00 and set a “buy” rating for the company in a report on Friday, October 31st. Finally, Sanford C. Bernstein initiated coverage on Republic Services in a research report on Wednesday, November 12th. They set a “market perform” rating and a $205.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $250.91.

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.