Bancreek Capital Management LP Buys New Shares in Republic Services, Inc. $RSG

Bancreek Capital Management LP bought a new stake in shares of Republic Services, Inc. (NYSE:RSG) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 5,013 shares of the business services provider’s stock, valued at approximately $1,062,000. Republic Services makes up approximately 4.4% of Bancreek Capital Management LP’s investment portfolio, making the stock its 9th largest position.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC lifted its stake in Republic Services by 75.8% in the 4th quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider’s stock worth $3,988,000 after purchasing an additional 8,547 shares in the last quarter. Federated Hermes Inc. lifted its stake in Republic Services by 23.2% in the 2nd quarter. Federated Hermes Inc. now owns 17,553 shares of the business services provider’s stock worth $4,329,000 after purchasing an additional 3,303 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Republic Services by 3.6% in the 2nd quarter. NewEdge Advisors LLC now owns 29,690 shares of the business services provider’s stock worth $7,322,000 after purchasing an additional 1,044 shares in the last quarter. Treasurer of the State of North Carolina lifted its stake in Republic Services by 0.7% in the 2nd quarter. Treasurer of the State of North Carolina now owns 94,626 shares of the business services provider’s stock worth $23,336,000 after purchasing an additional 688 shares in the last quarter. Finally, Ieq Capital LLC lifted its stake in Republic Services by 68.4% in the 2nd quarter. Ieq Capital LLC now owns 11,643 shares of the business services provider’s stock worth $2,871,000 after purchasing an additional 4,729 shares in the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Citigroup decreased their price target on shares of Republic Services from $253.00 to $247.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $249.00 target price on shares of Republic Services in a research report on Friday, May 8th. Weiss Ratings cut shares of Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Robert W. Baird decreased their target price on shares of Republic Services from $242.00 to $240.00 and set a “neutral” rating on the stock in a research report on Thursday, April 16th. Finally, Wells Fargo & Company upped their target price on shares of Republic Services from $238.00 to $252.00 and gave the company an “overweight” rating in a research report on Wednesday, March 18th. Eleven analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $245.15.

Insider Buying and Selling

In other news, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The shares were bought at an average cost of $202.24 per share, for a total transaction of $74,019,840.00. Following the acquisition, the insider 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders have bought 987,150 shares of company stock worth $202,366,682. Corporate insiders own 0.12% of the company’s stock.

Republic Services Stock Up 1.3%

Shares of NYSE RSG opened at $204.21 on Thursday. The firm’s 50-day moving average price is $210.05 and its 200-day moving average price is $214.80. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $62.83 billion, a price-to-earnings ratio of 29.30, a P/E/G ratio of 3.32 and a beta of 0.41. Republic Services, Inc. has a 12-month low of $196.41 and a 12-month high of $256.85.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, beating the consensus estimate of $1.64 by $0.06. The company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.10 billion. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.58 EPS. On average, equities research analysts anticipate that Republic Services, Inc. will post 7.28 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd will be issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.2%. The ex-dividend date is Thursday, July 2nd. Republic Services’s dividend payout ratio is presently 36.15%.

Republic Services Profile

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.