Horizon Investments LLC Grows Stock Position in Republic Services, Inc. (NYSE:RSG)

Horizon Investments LLC boosted its position in Republic Services, Inc. (NYSE:RSG) by 1.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,615 shares of the business services provider’s stock after purchasing an additional 62 shares during the period. Horizon Investments LLC’s holdings in Republic Services were worth $725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of RSG. Pathstone Holdings LLC increased its position in Republic Services by 2.7% in the third quarter. Pathstone Holdings LLC now owns 33,937 shares of the business services provider’s stock worth $6,816,000 after buying an additional 888 shares during the last quarter. Caprock Group LLC grew its position in shares of Republic Services by 21.9% in the third quarter. Caprock Group LLC now owns 4,828 shares of the business services provider’s stock valued at $970,000 after purchasing an additional 869 shares in the last quarter. Prospera Financial Services Inc grew its position in shares of Republic Services by 21.6% in the third quarter. Prospera Financial Services Inc now owns 4,896 shares of the business services provider’s stock valued at $984,000 after purchasing an additional 869 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its position in Republic Services by 16.0% during the third quarter. Fifth Third Wealth Advisors LLC now owns 2,193 shares of the business services provider’s stock worth $440,000 after buying an additional 303 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Republic Services during the third quarter worth about $3,323,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Gregg Brummer sold 6,293 shares of the firm’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 transaction, the chief operating officer now directly owns 10,416 shares of the company’s stock, valued at approximately $2,376,931.20. This trade represents a 37.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.09% of the company’s stock.

Republic Services Stock Performance

Republic Services stock opened at $234.70 on Thursday. The company has a market capitalization of $73.29 billion, a P/E ratio of 36.16, a PEG ratio of 3.64 and a beta of 0.73. Republic Services, Inc. has a twelve month low of $180.92 and a twelve month high of $240.95. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. The stock’s 50 day moving average is $223.82 and its 200 day moving average is $212.29.

Republic Services (NYSE:RSG) last released its quarterly earnings data 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 business had revenue of $4.05 billion for the quarter, compared to analysts’ expectations 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 firm posted $1.41 EPS. On average, equities research analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be issued a dividend of $0.58 per share. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $2.32 annualized dividend and a dividend yield of 0.99%. Republic Services’s payout ratio is 35.75%.

Analyst Upgrades and Downgrades

RSG has been the subject of several research analyst reports. Cibc World Mkts raised Republic Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 4th. Morgan Stanley boosted their target price on Republic Services from $220.00 to $230.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. The Goldman Sachs Group boosted 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. Argus set a $260.00 target price on Republic Services in a research note on Tuesday, February 18th. Finally, CIBC upgraded Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 price target on the stock in a report on Tuesday, March 4th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $236.88.

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.