GWM Advisors LLC Decreases Holdings in Republic Services, Inc. (NYSE:RSG)
GWM Advisors LLC trimmed its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 43.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,763 shares of the business services provider’s stock after selling 16,994 shares during the period. GWM Advisors LLC’s holdings in Republic Services were worth $1,786,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Cornerstone Advisors Inc. boosted its position in Republic Services by 150.9% in the 2nd quarter. Cornerstone Advisors Inc. now owns 710 shares of the business services provider’s stock valued at $58,000 after buying an additional 427 shares during the last quarter. Psagot Investment House Ltd. purchased a new position in Republic Services in the 2nd quarter valued at about $189,000. Fenimore Asset Management Inc. boosted its position in Republic Services by 9.6% in the 2nd quarter. Fenimore Asset Management Inc. now owns 191,537 shares of the business services provider’s stock valued at $15,716,000 after buying an additional 16,734 shares during the last quarter. Stratos Wealth Partners LTD. boosted its position in Republic Services by 30.9% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 50,566 shares of the business services provider’s stock valued at $4,149,000 after buying an additional 11,926 shares during the last quarter. Finally, DAVENPORT & Co LLC purchased a new position in Republic Services in the 2nd quarter valued at about $211,000. 56.90% of the stock is owned by hedge funds and other institutional investors.
RSG opened at $87.25 on Friday. The firm has a market cap of $27.71 billion, a price-to-earnings ratio of 25.76, a price-to-earnings-growth ratio of 4.55 and a beta of 0.62. Republic Services, Inc. has a fifty-two week low of $65.37 and a fifty-two week high of $100.91. The company’s 50-day moving average price is $82.67 and its 200 day moving average price is $85.20. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.10.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be paid a $0.425 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.70 annualized dividend and a dividend yield of 1.95%. This is a positive change from Republic Services’s previous quarterly dividend of $0.41. Republic Services’s dividend payout ratio (DPR) is presently 48.50%.
A number of equities research analysts have recently issued reports on RSG shares. Oppenheimer cut their target price on shares of Republic Services from $109.00 to $89.00 and set an “outperform” rating on the stock in a research note on Monday, April 27th. Jefferies Financial Group lowered shares of Republic Services from a “buy” rating to a “hold” rating and cut their target price for the company from $83.00 to $81.00 in a research note on Tuesday, April 14th. Robert W. Baird started coverage on shares of Republic Services in a research note on Thursday, May 28th. They issued an “outperform” rating and a $90.00 target price on the stock. UBS Group cut their target price on shares of Republic Services from $108.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, April 8th. Finally, Zacks Investment Research upgraded shares of Republic Services from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a research note on Monday, July 20th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Republic Services presently has an average rating of “Buy” and an average price target of $89.77.
In other Republic Services news, Director Tomago Collins sold 4,940 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $81.58, for a total value of $403,005.20. Following the sale, the director now owns 9,879 shares in the company, valued at $805,928.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Charles F. Serianni sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $81.53, for a total transaction of $122,295.00. Following the completion of the sale, the chief financial officer now owns 44,156 shares in the company, valued at approximately $3,600,038.68. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.
Republic Services Profile
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.
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