Summit Financial LLC Has $2.27 Million Stake in Republic Services, Inc. (NYSE:RSG)

Summit Financial LLC cut its position in Republic Services, Inc. (NYSE:RSG) by 0.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 11,294 shares of the business services provider’s stock after selling 105 shares during the quarter. Summit Financial LLC’s holdings in Republic Services were worth $2,272,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. McGlone Suttner Wealth Management Inc. grew its stake in shares of Republic Services by 2.2% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 2,213 shares of the business services provider’s stock valued at $445,000 after buying an additional 48 shares during the period. Access Financial Services Inc. grew its stake 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 valued at $1,243,000 after acquiring an additional 51 shares during the period. Hantz Financial Services Inc. increased its holdings in shares of Republic Services by 1.0% during the third quarter. Hantz Financial Services Inc. now owns 5,099 shares of the business services provider’s stock valued at $1,024,000 after acquiring an additional 52 shares in the last quarter. Tower Wealth Partners Inc. lifted its holdings in shares of Republic Services by 3.3% in the 4th quarter. Tower Wealth Partners Inc. now owns 1,697 shares of the business services provider’s stock worth $341,000 after purchasing an additional 54 shares in the last quarter. Finally, Umpqua Bank grew its position in Republic Services by 3.2% in the 4th quarter. Umpqua Bank now owns 1,808 shares of the business services provider’s stock valued at $374,000 after purchasing an additional 56 shares during the period. Institutional investors own 57.73% of the company’s stock.

Republic Services Stock Up 1.6 %

RSG opened at $242.42 on Tuesday. Republic Services, Inc. has a twelve month low of $180.92 and a twelve month high of $243.13. The company’s 50-day moving average price is $228.29 and its two-hundred day moving average price is $214.13. The stock has a market cap of $75.70 billion, a price-to-earnings ratio of 37.35, a PEG 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 (NYSE:RSG) last announced its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.21. The business had revenue of $4.05 billion during 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 period in the prior year, the company earned $1.41 earnings per share. As a group, equities analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

The firm 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 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services’s dividend payout ratio (DPR) is presently 35.75%.

Insider Transactions at Republic Services

In related news, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total value of $1,436,062.60. Following the completion of the transaction, the chief operating officer now directly owns 10,416 shares in the company, valued at approximately $2,376,931.20. The trade was a 37.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Argus set a $260.00 price objective on shares of Republic Services in a research note on Tuesday, February 18th. CIBC upgraded Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 price target for the company in a research note on Tuesday, March 4th. Royal Bank of Canada raised Republic Services from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $219.00 to $237.00 in a report on Monday, January 6th. Cibc World Mkts raised Republic Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 4th. Finally, Stifel Nicolaus increased their price target on Republic Services from $240.00 to $257.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.