Ropes Wealth Advisors LLC increased its stake in Republic Services, Inc. (NYSE:RSG) by 17.5% during the second quarter, according to its most recent filing with the SEC. The fund owned 1,005 shares of the business services provider’s stock after buying an additional 150 shares during the quarter. Ropes Wealth Advisors LLC’s holdings in Republic Services were worth $87,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of RSG. BlackRock Inc. boosted its holdings in shares of Republic Services by 4.0% in the 1st quarter. BlackRock Inc. now owns 21,393,144 shares of the business services provider’s stock worth $1,719,581,000 after buying an additional 830,100 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Republic Services by 9.3% in the 4th quarter. Geode Capital Management LLC now owns 3,819,787 shares of the business services provider’s stock worth $275,009,000 after buying an additional 324,355 shares during the last quarter. California Public Employees Retirement System boosted its holdings in shares of Republic Services by 26.9% in the 1st quarter. California Public Employees Retirement System now owns 1,495,977 shares of the business services provider’s stock worth $120,247,000 after buying an additional 316,699 shares during the last quarter. Sawgrass Asset Management LLC boosted its holdings in shares of Republic Services by 6,099.0% in the 1st quarter. Sawgrass Asset Management LLC now owns 239,901 shares of the business services provider’s stock worth $19,283,000 after buying an additional 236,031 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Republic Services by 8.5% in the 1st quarter. Janus Henderson Group PLC now owns 2,936,587 shares of the business services provider’s stock worth $236,044,000 after buying an additional 231,211 shares during the last quarter. 58.73% of the stock is currently owned by institutional investors.

In other news, EVP Catharine D. Ellingsen sold 3,100 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $90.00, for a total transaction of $279,000.00. Following the sale, the executive vice president now directly owns 14,307 shares in the company, valued at $1,287,630. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.30% of the company’s stock.

A number of brokerages recently weighed in on RSG. Royal Bank of Canada set a $91.00 price target on shares of Republic Services and gave the stock a “hold” rating in a report on Friday, July 26th. Bank of America restated a “neutral” rating and issued a $85.00 price objective (up from $79.00) on shares of Republic Services in a research note on Friday, April 26th. Zacks Investment Research upgraded Republic Services from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Stifel Nicolaus upgraded Republic Services from a “hold” rating to a “buy” rating and boosted their price objective for the company from $86.00 to $90.00 in a research note on Monday, April 29th. Finally, Raymond James set a $93.00 price objective on Republic Services and gave the company an “outperform” rating in a research note on Friday, July 26th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $84.67.

Republic Services stock traded down $0.44 during midday trading on Wednesday, reaching $89.48. The stock had a trading volume of 20,323 shares, compared to its average volume of 1,160,485. Republic Services, Inc. has a 12 month low of $67.48 and a 12 month high of $90.60. The business has a 50-day moving average of $87.92. The firm has a market cap of $28.85 billion, a price-to-earnings ratio of 28.96, a PEG ratio of 3.07 and a beta of 0.50. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.41 and a quick ratio of 0.41.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, July 25th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.01. Republic Services had a return on equity of 12.86% and a net margin of 10.32%. The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same period in the previous year, the business posted $0.73 EPS. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. On average, equities research analysts anticipate that Republic Services, Inc. will post 3.24 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.405 per share. The ex-dividend date of this dividend is Monday, September 30th. This is a boost from Republic Services’s previous quarterly dividend of $0.38. This represents a $1.62 annualized dividend and a dividend yield of 1.81%. Republic Services’s dividend payout ratio is currently 48.54%.

About Republic Services

Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.

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Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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