NorthRock Partners LLC Buys 917 Shares of Republic Services, Inc. (NYSE:RSG)

NorthRock Partners LLC increased its stake in Republic Services, Inc. (NYSE:RSG) by 68.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,265 shares of the business services provider’s stock after purchasing an additional 917 shares during the quarter. NorthRock Partners LLC’s holdings in Republic Services were worth $456,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Arcadia Investment Management Corp MI raised its holdings in Republic Services by 200.0% during the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 88 shares during the period. R Squared Ltd bought a new stake in Republic Services during the 4th quarter valued at $32,000. New Age Alpha Advisors LLC raised its holdings in Republic Services by 70.2% during the 4th quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 73 shares during the period. Generali Asset Management SPA SGR bought a new stake in Republic Services during the 4th quarter valued at $45,000. Finally, Bank of Jackson Hole Trust bought a new stake in Republic Services during the 4th quarter valued at $48,000. Institutional investors own 57.73% of the company’s stock.

Republic Services Stock Up 1.1%

RSG opened at $247.69 on Friday. The stock has a market cap of $77.40 billion, a PE ratio of 38.17, a P/E/G ratio of 3.64 and a beta of 0.66. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a 52 week low of $180.92 and a 52 week high of $253.54. The business’s fifty day simple moving average is $241.00 and its 200 day simple moving average is $223.93.

Republic Services (NYSE:RSG) last released its earnings results on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.05. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The business had revenue of $4.01 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the prior year, the firm earned $1.45 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. As a group, research analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Wednesday, July 2nd will be paid a dividend of $0.58 per share. The ex-dividend date is Wednesday, July 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.94%. Republic Services’s dividend payout ratio (DPR) is currently 34.99%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on RSG shares. Argus set a $260.00 target price on shares of Republic Services in a report on Tuesday, February 18th. The Goldman Sachs Group boosted their target price on shares of Republic Services from $239.00 to $265.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. UBS Group upped their price target on shares of Republic Services from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Friday, April 11th. Citigroup upped their price target on shares of Republic Services from $265.00 to $278.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Finally, Morgan Stanley upped their price target on shares of Republic Services from $230.00 to $245.00 and gave the stock an “equal weight” rating in a report on Friday, April 25th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Republic Services has an average rating of “Moderate Buy” and an average target price of $249.00.

Insider Activity

In other news, COO Gregg Brummer sold 6,293 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the transaction, the chief operating officer now directly owns 10,416 shares of the company’s stock, valued at approximately $2,376,931.20. This trade represents a 37.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.11% of the company’s stock.

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.