Republic Services, Inc. (NYSE:RSG) Shares Acquired by Sycomore Asset Management

Sycomore Asset Management grew its stake in Republic Services, Inc. (NYSE:RSG) by 44.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,657 shares of the business services provider’s stock after buying an additional 6,699 shares during the quarter. Sycomore Asset Management’s holdings in Republic Services were worth $3,547,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of RSG. FinTrust Capital Advisors LLC raised its holdings 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 worth $28,000 after purchasing an additional 71 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new position in Republic Services in the 4th quarter worth about $34,000. Millburn Ridgefield Corp acquired a new position in Republic Services in the 3rd quarter worth about $36,000. Catalyst Capital Advisors LLC acquired a new position in Republic Services in the 3rd quarter worth about $36,000. Finally, BKM Wealth Management LLC acquired a new position in Republic Services in the 4th quarter worth about $37,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Trading Up 0.7 %

Republic Services stock traded up $1.38 during mid-day trading on Wednesday, hitting $191.99. The company’s stock had a trading volume of 1,135,541 shares, compared to its average volume of 1,203,355. The firm has a market capitalization of $60.47 billion, a PE ratio of 35.10, a price-to-earnings-growth ratio of 3.35 and a beta of 0.68. Republic Services, Inc. has a 1 year low of $135.33 and a 1 year high of $192.99. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. The stock’s fifty day moving average is $186.86 and its two-hundred day moving average is $170.01.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Tuesday, February 27th. The business services provider reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.13. The company had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.73 billion. Republic Services had a return on equity of 17.32% and a net margin of 11.57%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.13 earnings per share. On average, analysts anticipate 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 was paid on Monday, April 15th. Shareholders of record on Tuesday, April 2nd were paid a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend was Monday, April 1st. Republic Services’s dividend payout ratio (DPR) is 39.12%.

Insiders Place Their Bets

In other Republic Services news, CEO Ark Jon Vander sold 5,446 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the transaction, the chief executive officer now directly owns 85,113 shares in the company, valued at $15,669,303.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on RSG shares. Morgan Stanley lowered Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 price objective for the company. in a research note on Friday, March 15th. Scotiabank started coverage on Republic Services in a research note on Monday, April 8th. They set a “sector perform” rating and a $211.00 price objective for the company. Wells Fargo & Company boosted their price objective on Republic Services from $180.00 to $188.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Oppenheimer boosted their price objective on Republic Services from $182.00 to $195.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th. Finally, UBS Group lowered Republic Services from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $175.00 to $195.00 in a research note on Thursday, February 29th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $199.77.

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.