SlateStone Wealth LLC Has $1.31 Million Holdings in Republic Services, Inc. (NYSE:RSG)

SlateStone Wealth LLC raised its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 44.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,525 shares of the business services provider's stock after acquiring an additional 2,000 shares during the quarter. SlateStone Wealth LLC's holdings in Republic Services were worth $1,313,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in RSG. Mirae Asset Global Investments Co. Ltd. boosted its position in Republic Services by 37.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,682 shares of the business services provider's stock valued at $3,586,000 after purchasing an additional 4,827 shares during the last quarter. TCW Group Inc. lifted its holdings in shares of Republic Services by 13.0% during the 3rd quarter. TCW Group Inc. now owns 114,582 shares of the business services provider's stock valued at $23,013,000 after buying an additional 13,138 shares during the last quarter. Avanza Fonder AB bought a new stake in shares of Republic Services in the 4th quarter valued at approximately $4,430,000. Hickory Point Bank & Trust acquired a new position in Republic Services in the fourth quarter worth approximately $790,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Republic Services during the third quarter valued at approximately $6,102,000. Institutional investors and hedge funds own 57.73% of the company's stock.

Insider Activity

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total value of $1,436,062.60. Following the sale, the chief operating officer now directly owns 10,416 shares in the company, valued at $2,376,931.20. This represents a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.09% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of Republic Services from $220.00 to $230.00 and gave the stock an "equal weight" rating in a research note on Friday, February 14th. CIBC raised Republic Services from a "neutral" rating to a "sector outperform" rating and set a $264.00 price target for the company in a research report on Tuesday, March 4th. BMO Capital Markets raised Republic Services from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $211.00 to $238.00 in a report on Friday, December 6th. Cibc World Mkts upgraded Republic Services from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a "hold" rating to a "buy" rating and lifted their price target for the company from $219.00 to $237.00 in a research report on Tuesday, December 10th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $236.88.

Republic Services Stock Performance

Shares of RSG stock traded up $0.23 during mid-day trading on Thursday, reaching $234.79. The stock had a trading volume of 957,670 shares, compared to its average volume of 1,035,256. The firm has a market cap 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 has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a one year low of $180.91 and a one year high of $240.95. The firm's 50 day simple moving average is $223.82 and its 200 day simple moving average is $212.29.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating 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 net margin of 12.74% and a return on equity of 18.28%. During the same quarter in the previous year, the firm posted $1.41 EPS. On average, analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 yield of 0.99%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services's payout ratio is 35.75%.

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.