Sei Investments Co. Acquires 61,569 Shares of Republic Services, Inc. $RSG

Sei Investments Co. increased its holdings in Republic Services, Inc. (NYSE:RSG) by 10.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 649,317 shares of the business services provider’s stock after acquiring an additional 61,569 shares during the quarter. Sei Investments Co. owned about 0.21% of Republic Services worth $142,214,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of RSG. Laurel Wealth Advisors LLC purchased a new position in Republic Services during the fourth quarter valued at $25,000. Wealth Watch Advisors INC bought a new position in shares of Republic Services in the third quarter worth approximately $26,000. Prosperity Bancshares Inc bought a new position in Republic Services in the 4th quarter valued at approximately $30,000. Sound Income Strategies LLC bought a new position in shares of Republic Services during the fourth quarter valued at $32,000. Finally, Hilton Head Capital Partners LLC purchased a new stake in shares of Republic Services during the 4th quarter valued at about $32,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RSG has been the topic of a number of research reports. Argus downgraded Republic Services from a “buy” rating to a “hold” rating in a research note on Monday, May 11th. Barclays raised their price objective on shares of Republic Services from $227.00 to $233.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. UBS Group decreased their target price on Republic Services from $240.00 to $223.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 12th. Royal Bank Of Canada boosted their price target on shares of Republic Services from $265.00 to $267.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. upped their price objective on Republic Services from $233.00 to $245.00 and gave the stock a “neutral” rating in a report on Friday, April 10th. Eleven investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $243.89.

Republic Services Stock Up 0.3%

Shares of NYSE RSG opened at $217.14 on Friday. The firm has a 50-day simple moving average of $212.06 and a two-hundred day simple moving average of $214.84. Republic Services, Inc. has a 1 year low of $196.41 and a 1 year high of $246.25. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market cap of $66.80 billion, a P/E ratio of 31.15, a PEG ratio of 3.63 and a beta of 0.40.

Republic Services (NYSE:RSG) last announced its quarterly earnings data 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 return on equity of 18.57% and a net margin of 13.00%.Republic Services’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.58 EPS. Research analysts anticipate that Republic Services, Inc. will post 7.28 earnings per share for the current year.

Republic Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd were issued a $0.625 dividend. The ex-dividend date was Thursday, July 2nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.2%. Republic Services’s payout ratio is presently 35.87%.

Insiders Place Their Bets

In related news, Director Sandra M. Volpe sold 1,800 shares of Republic Services stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $211.28, for a total transaction of $380,304.00. Following the transaction, the director directly owned 58 shares of the company’s stock, valued at $12,254.24. This trade represents a 96.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was bought at an average price of $202.24 per share, for a total transaction of $74,019,840.00. Following the completion of the acquisition, the insider directly owned 110,315,982 shares in the company, valued at approximately $22,310,304,199.68. This trade represents a 0.33% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 987,150 shares of company stock worth $202,366,682 in the last three months. Corporate insiders own 0.12% of the company’s stock.

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.