Raymond James & Associates Sells 156 Shares of Republic Services, Inc. (NYSE:RSG)

Raymond James & Associates trimmed its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 0.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 726,995 shares of the business services provider’s stock after selling 156 shares during the period. Raymond James & Associates owned approximately 0.23% of Republic Services worth $139,176,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. FinTrust Capital Advisors LLC raised its position in Republic Services by 56.3% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 197 shares of the business services provider’s stock valued at $28,000 after buying an additional 71 shares during the last quarter. Bogart Wealth LLC bought a new position in shares of Republic Services during the 4th quarter worth $30,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Republic Services during the 4th quarter worth $34,000. Millburn Ridgefield Corp bought a new position in shares of Republic Services during the 3rd quarter worth $36,000. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Republic Services during the 3rd quarter worth $36,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Republic Services news, CEO Ark Jon Vander sold 5,446 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $184.10, for a total value of $1,002,608.60. Following the sale, the chief executive officer now directly owns 85,113 shares of the company’s stock, valued at $15,669,303.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Republic Services Trading Down 0.9 %

Shares of RSG stock traded down $1.71 during trading hours on Tuesday, reaching $191.70. The company’s stock had a trading volume of 2,045,527 shares, compared to its average volume of 1,223,444. The stock has a market capitalization of $60.38 billion, a P/E ratio of 35.05, a P/E/G ratio of 3.36 and a beta of 0.68. Republic Services, Inc. has a one year low of $140.07 and a one year high of $196.76. The firm’s fifty day simple moving average is $187.85 and its 200 day simple moving average is $171.47. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Tuesday, April 30th. The business services provider reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.10. Republic Services had a return on equity of 17.32% and a net margin of 11.57%. The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same period in the previous year, the company posted $1.24 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. Equities research analysts expect that Republic Services, Inc. will post 6.01 EPS for the current year.

Republic Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Tuesday, July 2nd will be given a dividend of $0.535 per share. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a $2.14 annualized dividend and a dividend yield of 1.12%. Republic Services’s dividend payout ratio is presently 39.12%.

Analysts Set New Price Targets

Several research analysts have commented on the company. UBS Group downgraded Republic Services from a “buy” rating to a “neutral” rating and raised their target price for the stock from $175.00 to $195.00 in a research note on Thursday, February 29th. Morgan Stanley cut Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 price target on the stock. in a report on Friday, March 15th. BMO Capital Markets raised their price target on Republic Services from $173.00 to $195.00 and gave the company a “market perform” rating in a report on Wednesday, February 28th. Jefferies Financial Group raised their price target on Republic Services from $213.00 to $225.00 and gave the company a “buy” rating in a report on Monday, March 18th. Finally, Royal Bank of Canada began coverage on Republic Services in a report on Monday, April 8th. They issued a “sector perform” rating and a $198.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $199.77.

Republic Services Profile

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.