Cornerstone Wealth Group LLC Raises Stock Position in Republic Services, Inc. (NYSE:RSG)

Cornerstone Wealth Group LLC raised its stake in shares of Republic Services, Inc. (NYSE:RSG) by 4.8% during the first quarter, Holdings Channel reports. The firm owned 18,431 shares of the business services provider’s stock after buying an additional 846 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Republic Services were worth $3,528,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RSG. Bogart Wealth LLC purchased a new stake in shares of Republic Services in the 4th quarter worth about $30,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Republic Services during the 4th quarter valued at about $34,000. Jones Financial Companies Lllp grew its position in Republic Services by 3,014.3% during the 4th quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 211 shares during the last quarter. BKM Wealth Management LLC purchased a new stake in Republic Services during the 4th quarter valued at about $37,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in Republic Services during the 4th quarter valued at about $41,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Stock Down 0.2 %

Shares of RSG stock traded down $0.48 during mid-day trading on Friday, hitting $194.34. The stock had a trading volume of 4,550,519 shares, compared to its average volume of 995,814. Republic Services, Inc. has a 12-month low of $140.23 and a 12-month high of $196.76. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.53 and a quick ratio of 0.53. The firm’s 50-day moving average is $188.74 and its two-hundred day moving average is $181.23. The firm has a market capitalization of $61.20 billion, a P/E ratio of 34.09, a price-to-earnings-growth ratio of 3.26 and a beta of 0.68.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Tuesday, April 30th. The business services provider reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.10. Republic Services had a return on equity of 17.56% and a net margin of 11.81%. The business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the prior year, the company earned $1.24 EPS. The business’s revenue was up 7.8% compared to the same quarter last year. On average, analysts predict that Republic Services, Inc. will post 6.05 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently disclosed 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. This represents a $2.14 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Tuesday, July 2nd. Republic Services’s payout ratio is currently 37.54%.

Insider Activity at Republic Services

In related news, Director Katharine Weymouth acquired 540 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were bought at an average price of $185.26 per share, with a total value of $100,040.40. Following the completion of the transaction, the director now directly owns 540 shares in the company, valued at $100,040.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Katharine Weymouth purchased 540 shares of Republic Services stock in a transaction that occurred on Tuesday, June 4th. The stock was bought at an average cost of $185.26 per share, for a total transaction of $100,040.40. Following the completion of the transaction, the director now owns 540 shares in the company, valued at $100,040.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Amanda Hodges sold 6,500 shares of Republic Services stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $186.02, for a total value of $1,209,130.00. Following the transaction, the chief marketing officer now owns 6,831 shares of the company’s stock, valued at $1,270,702.62. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Royal Bank of Canada initiated coverage on shares of Republic Services in a research note on Monday, April 8th. They set a “sector perform” rating and a $198.00 target price on the stock. Morgan Stanley lowered shares of Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 price objective for the company. in a report on Friday, March 15th. The Goldman Sachs Group increased their price objective on shares of Republic Services from $209.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Republic Services in a report on Thursday, May 23rd. They issued a “hold” rating and a $203.00 target price for the company. Finally, Jefferies Financial Group raised their price target on Republic Services from $213.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Republic Services presently has an average rating of “Moderate Buy” and an average target price of $201.14.

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.