Republic Services, Inc. (NYSE:RSG) Shares Purchased by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. lifted its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 4.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,104 shares of the business services provider’s stock after buying an additional 470 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Republic Services were worth $2,435,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RSG. Stifel Financial Corp lifted its stake in Republic Services by 437.9% in the third quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock valued at $364,449,000 after buying an additional 1,477,255 shares during the last quarter. Wellington Management Group LLP boosted its stake in Republic Services by 23.2% during the 3rd quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider’s stock valued at $1,205,883,000 after purchasing an additional 1,131,850 shares during the period. Raymond James Financial Inc. bought a new position in Republic Services in the 4th quarter worth about $184,827,000. Nordea Investment Management AB increased its stake in shares of Republic Services by 19.4% in the fourth quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock valued at $626,553,000 after purchasing an additional 509,116 shares during the period. Finally, National Bank of Canada FI boosted its position in shares of Republic Services by 544.7% during the third quarter. National Bank of Canada FI now owns 545,613 shares of the business services provider’s stock worth $109,580,000 after buying an additional 460,989 shares during the period. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RSG. The Goldman Sachs Group lifted their target price on Republic Services from $239.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. UBS Group lifted their price objective on shares of Republic Services from $212.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Jefferies Financial Group increased their target price on shares of Republic Services from $235.00 to $244.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Morgan Stanley boosted 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 report on Friday, February 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Republic Services from a “hold” rating to a “buy” rating and raised their price objective for the company from $219.00 to $237.00 in a research note on Tuesday, December 10th. Five investment 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $236.88.

Insider Buying and Selling at Republic Services

In related news, COO Gregg Brummer sold 6,293 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the completion of the sale, the chief operating officer now directly owns 10,416 shares in the company, valued at approximately $2,376,931.20. This trade represents a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.09% of the company’s stock.

Republic Services Trading Up 0.8 %

Shares of RSG opened at $237.91 on Wednesday. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a 1-year low of $180.92 and a 1-year high of $240.95. The stock has a market capitalization of $74.30 billion, a P/E ratio of 36.66, a P/E/G ratio of 3.64 and a beta of 0.73. The business’s 50-day moving average price is $226.10 and its 200 day moving average price is $213.16.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.21. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The business had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the previous year, the business earned $1.41 earnings per share. Analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 0.98%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s dividend payout ratio is currently 35.75%.

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.