Strategic Financial Concepts LLC Takes $9.41 Million Position in Republic Services, Inc. (NYSE:RSG)

Strategic Financial Concepts LLC bought a new stake in shares of Republic Services, Inc. (NYSE:RSG) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 46,781 shares of the business services provider’s stock, valued at approximately $9,411,000.

A number of other hedge funds have also made changes to their positions in the stock. FSA Wealth Management LLC acquired a new stake in shares of Republic Services during the 3rd quarter valued at $25,000. R Squared Ltd acquired a new position in shares of Republic Services in the fourth quarter worth $32,000. Truvestments Capital LLC acquired a new stake in Republic Services during the third quarter valued at $34,000. Ashton Thomas Securities LLC purchased a new position in Republic Services in the third quarter valued at about $39,000. Finally, Kieckhefer Group LLC acquired a new position in Republic Services in the 4th quarter worth about $50,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Stock Up 2.9 %

Shares of RSG stock opened at $230.98 on Friday. The stock has a 50 day moving average of $210.94 and a 200-day moving average of $207.33. The firm has a market cap of $72.33 billion, a PE ratio of 36.96, a price-to-earnings-growth ratio of 3.24 and a beta of 0.74. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. Republic Services, Inc. has a 12 month low of $177.03 and a 12 month high of $232.52.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.21. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The firm had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the prior year, the firm earned $1.41 EPS. On average, equities analysts predict that Republic Services, Inc. will post 6.25 EPS for the current year.

Republic Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be issued a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $2.32 annualized dividend and a yield of 1.00%. Republic Services’s dividend payout ratio (DPR) is 37.12%.

Insiders Place Their Bets

In related news, Director Katharine Weymouth sold 1,859 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $215.27, for a total value of $400,186.93. Following the sale, the director now owns 879 shares of the company’s stock, valued at $189,222.33. The trade was a 67.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total value of $1,065,011.42. Following the sale, 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 disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

RSG has been the subject of several recent research reports. Jefferies Financial Group boosted their price target on Republic Services from $235.00 to $244.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a “hold” rating to a “buy” rating and boosted their target price for the stock from $219.00 to $237.00 in a research report on Tuesday, December 10th. BMO Capital Markets upgraded shares of Republic Services from a “market perform” rating to an “outperform” rating and raised their price target for the company from $211.00 to $238.00 in a report on Friday, December 6th. CIBC upped their price objective on shares of Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, Morgan Stanley raised their target price on Republic Services from $220.00 to $230.00 and gave the company an “equal weight” rating in a report on Friday. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $225.38.

Republic Services 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.