Heritage Wealth Management LLC Buys Shares of 2,155 Republic Services, Inc. (NYSE:RSG)

Heritage Wealth Management LLC bought a new stake in shares of Republic Services, Inc. (NYSE:RSG) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,155 shares of the business services provider’s stock, valued at approximately $237,000.

Other large investors have also recently added to or reduced their stakes in the company. Ameritas Investment Company LLC acquired a new stake in Republic Services during the 1st quarter valued at approximately $26,000. McIlrath & Eck LLC grew its position in shares of Republic Services by 61.4% during the 1st quarter. McIlrath & Eck LLC now owns 305 shares of the business services provider’s stock worth $30,000 after buying an additional 116 shares during the period. E Fund Management Co. Ltd. acquired a new stake in shares of Republic Services during the 1st quarter worth approximately $37,000. CSat Investment Advisory L.P. grew its position in shares of Republic Services by 37.0% during the 1st quarter. CSat Investment Advisory L.P. now owns 422 shares of the business services provider’s stock worth $42,000 after buying an additional 114 shares during the period. Finally, First Horizon Advisors Inc. grew its position in shares of Republic Services by 51.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 586 shares of the business services provider’s stock worth $64,000 after buying an additional 200 shares during the period. 57.60% of the stock is owned by institutional investors and hedge funds.

In other news, CFO Brian M. Delghiaccio sold 2,074 shares of Republic Services stock in a transaction on Wednesday, July 7th. The stock was sold at an average price of $114.00, for a total transaction of $236,436.00. Following the sale, the chief financial officer now directly owns 3,379 shares in the company, valued at approximately $385,206. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

RSG has been the subject of several recent analyst reports. Raymond James reaffirmed an “outperform” rating and set a $116.14 price objective (down previously from $117.00) on shares of Republic Services in a research report on Monday, July 26th. Oppenheimer increased their target price on Republic Services from $117.00 to $121.00 and gave the stock an “outperform” rating in a report on Friday, July 16th. Royal Bank of Canada increased their target price on Republic Services from $111.00 to $118.00 and gave the stock a “sector perform” rating in a report on Friday, July 30th. They noted that the move was a valuation call. Morgan Stanley increased their target price on Republic Services from $126.00 to $134.00 and gave the stock an “overweight” rating in a report on Friday, July 30th. Finally, BMO Capital Markets increased their target price on Republic Services from $125.00 to $136.00 and gave the stock an “outperform” rating in a report on Monday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $113.93.

Shares of NYSE RSG traded up $1.23 during mid-day trading on Wednesday, reaching $124.75. 4,989 shares of the company’s stock were exchanged, compared to its average volume of 1,163,995. The firm has a market capitalization of $39.72 billion, a price-to-earnings ratio of 35.19, a price-to-earnings-growth ratio of 2.88 and a beta of 0.71. Republic Services, Inc. has a 52 week low of $86.18 and a 52 week high of $126.25. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a 50-day moving average price of $120.48 and a two-hundred day moving average price of $111.01.

Republic Services (NYSE:RSG) last released its earnings results on Thursday, July 29th. The business services provider reported $1.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.15. The company had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.72 billion. Republic Services had a return on equity of 15.01% and a net margin of 10.64%. As a group, sell-side analysts forecast that Republic Services, Inc. will post 4.06 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Friday, October 1st will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.47%. This is a boost from Republic Services’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, September 30th. Republic Services’s payout ratio is presently 47.75%.

Republic Services Profile

Republic Services, Inc engages in the provision of services in the domestic non-hazardous solid waste industry. It provides integrated waste management services, which offers non-hazardous solid waste collection, transfer, recycling, disposal and energy services. The firm operates through the following segments: Group 1, Group 2, and Corporate Entities & Other.

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Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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