Garner Asset Management Corp Increases Holdings in Republic Services, Inc. (NYSE:RSG)

Garner Asset Management Corp raised its stake in shares of Republic Services, Inc. (NYSE:RSG) by 5.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,407 shares of the business services provider’s stock after buying an additional 227 shares during the quarter. Garner Asset Management Corp’s holdings in Republic Services were worth $885,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Cerity Partners LLC raised its stake in Republic Services by 60.1% during the third quarter. Cerity Partners LLC now owns 32,219 shares of the business services provider’s stock valued at $6,471,000 after buying an additional 12,100 shares during the last quarter. Great Valley Advisor Group Inc. raised its stake in Republic Services by 25.1% during the third quarter. Great Valley Advisor Group Inc. now owns 2,058 shares of the business services provider’s stock valued at $413,000 after buying an additional 413 shares during the last quarter. Meridian Wealth Management LLC purchased a new position in Republic Services during the third quarter valued at $233,000. Citigroup Inc. raised its stake in Republic Services by 13.8% during the third quarter. Citigroup Inc. now owns 252,827 shares of the business services provider’s stock valued at $50,778,000 after buying an additional 30,655 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Republic Services by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,237,525 shares of the business services provider’s stock valued at $248,545,000 after buying an additional 8,283 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insider Activity

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total value of $1,065,011.42. Following the transaction, the chief financial officer now directly owns 6,318 shares in the company, valued at $1,326,906.36. The trade was a 44.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Royal Bank of Canada lifted their target price on Republic Services from $211.00 to $219.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. StockNews.com lowered Republic Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. TD Cowen lifted their target price on Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Oppenheimer lifted their target price on Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, William Blair assumed coverage on Republic Services in a report on Thursday, October 3rd. They issued an “outperform” rating for the company. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $215.71.

Republic Services Stock Performance

NYSE:RSG opened at $216.79 on Friday. The stock has a 50-day simple moving average of $204.56 and a two-hundred day simple moving average of $198.93. Republic Services, Inc. has a 52-week low of $159.10 and a 52-week high of $216.86. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market capitalization of $67.89 billion, a PE ratio of 34.69, a P/E/G ratio of 3.27 and a beta of 0.70.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The business had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the previous year, the business earned $1.54 earnings per share. The business’s revenue was up 6.5% on a year-over-year basis. Analysts forecast that Republic Services, Inc. will post 6.24 EPS for the current year.

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a $0.58 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.07%. Republic Services’s payout ratio is 37.12%.

About Republic Services

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.