Envestnet Portfolio Solutions Inc. Has $12.51 Million Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Envestnet Portfolio Solutions Inc. grew its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 3.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,190 shares of the business services provider's stock after buying an additional 2,350 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Republic Services were worth $12,511,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. McGlone Suttner Wealth Management Inc. lifted its position in Republic Services by 2.2% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 2,213 shares of the business services provider's stock worth $445,000 after purchasing an additional 48 shares during the period. Access Financial Services Inc. lifted its position in Republic Services by 0.8% in the fourth quarter. Access Financial Services Inc. now owns 6,178 shares of the business services provider's stock worth $1,243,000 after purchasing an additional 51 shares during the period. Hantz Financial Services Inc. lifted its position in Republic Services by 1.0% in the third quarter. Hantz Financial Services Inc. now owns 5,099 shares of the business services provider's stock worth $1,024,000 after purchasing an additional 52 shares during the period. Tower Wealth Partners Inc. lifted its holdings in shares of Republic Services by 3.3% during the fourth quarter. Tower Wealth Partners Inc. now owns 1,697 shares of the business services provider's stock valued at $341,000 after acquiring an additional 54 shares during the period. Finally, First Horizon Advisors Inc. lifted its holdings in shares of Republic Services by 11.6% during the third quarter. First Horizon Advisors Inc. now owns 529 shares of the business services provider's stock valued at $106,000 after acquiring an additional 55 shares during the period. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Republic Services Stock Up 0.1 %

NYSE RSG traded up $0.23 during trading on Thursday, hitting $234.79. The stock had a trading volume of 957,670 shares, compared to its average volume of 1,014,449. The company has a market capitalization of $73.32 billion, a PE ratio of 36.18, a P/E/G ratio of 3.64 and a beta of 0.73. The company's 50-day moving average price is $223.82 and its two-hundred day moving average price is $212.29. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. Republic Services, Inc. has a 12 month low of $180.92 and a 12 month high of $240.95.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.21. The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. During the same quarter in the previous year, the firm earned $1.41 EPS. As a group, sell-side analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Wednesday, April 2nd. Republic Services's payout ratio is presently 35.75%.

Insider Buying and Selling

In related news, COO Gregg Brummer sold 6,293 shares of the business's stock in a transaction that occurred on 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. The trade was a 37.66 % decrease in their position. 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.

Analysts Set New Price Targets

A number of brokerages have issued reports on RSG. Stifel Nicolaus lifted their price objective on Republic Services from $240.00 to $257.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft raised Republic Services from a "hold" rating to a "buy" rating and lifted their price objective for the company from $219.00 to $237.00 in a report on Tuesday, December 10th. William Blair restated an "outperform" rating on shares of Republic Services in a research note on Friday, February 14th. Morgan Stanley raised their target price on Republic Services from $220.00 to $230.00 and gave the company an "equal weight" rating in a research note on Friday, February 14th. Finally, Argus set a $260.00 target price on Republic Services in a research note on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $236.88.

Republic Services Company 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.