Tectonic Advisors LLC Makes New $255,000 Investment in Republic Services, Inc. (NYSE:RSG)

by · The Markets Daily

Tectonic Advisors LLC purchased a new position in Republic Services, Inc. (NYSE:RSG – Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 1,786 shares of the business services provider’s stock, valued at approximately $255,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Bank Julius Baer & Co. Ltd Zurich increased its position in Republic Services by 87,079.9% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 169,300,747 shares of the business services provider’s stock worth $25,931,795,000 after buying an additional 169,106,550 shares during the period. BlackRock Inc. increased its position in shares of Republic Services by 0.3% during the second quarter. BlackRock Inc. now owns 20,421,314 shares of the business services provider’s stock valued at $3,127,933,000 after purchasing an additional 56,686 shares during the period. Vanguard Group Inc. increased its position in shares of Republic Services by 1.0% during the first quarter. Vanguard Group Inc. now owns 17,800,921 shares of the business services provider’s stock valued at $2,358,621,000 after purchasing an additional 168,696 shares during the period. State Street Corp increased its position in shares of Republic Services by 0.3% during the second quarter. State Street Corp now owns 8,964,102 shares of the business services provider’s stock valued at $1,377,389,000 after purchasing an additional 27,920 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Republic Services by 7.0% during the second quarter. JPMorgan Chase & Co. now owns 6,614,466 shares of the business services provider’s stock valued at $1,013,138,000 after purchasing an additional 433,931 shares during the period. 57.23% of the stock is owned by institutional investors.

Republic Services Price Performance

Republic Services stock opened at $163.72 on Thursday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.58 and a current ratio of 0.58. The firm has a market cap of $51.51 billion, a P/E ratio of 31.67, a P/E/G ratio of 2.79 and a beta of 0.67. The business’s fifty day moving average is $159.46 and its two-hundred day moving average is $151.92. Republic Services, Inc. has a 52 week low of $120.58 and a 52 week high of $167.17.

Republic Services (NYSE:RSG – Get Free Report) last posted its quarterly earnings data on Thursday, October 26th. The business services provider reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.13. Republic Services had a return on equity of 16.81% and a net margin of 11.17%. The company had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.81 billion. During the same quarter in the previous year, the firm earned $1.34 earnings per share. The business’s revenue was up 6.3% on a year-over-year basis. Equities research analysts forecast that Republic Services, Inc. will post 5.47 earnings per share for the current fiscal year.

Republic Services declared that its Board of Directors has initiated a stock repurchase plan on Thursday, October 26th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the business services provider to reacquire up to 6.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Republic Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be paid a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend is Friday, December 29th. Republic Services’s dividend payout ratio (DPR) is presently 41.39%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on RSG shares. StockNews.com started coverage on Republic Services in a research report on Thursday, October 5th. They set a “buy” rating on the stock. Stifel Nicolaus boosted their price objective on Republic Services from $175.00 to $187.00 and gave the company a “buy” rating in a research report on Tuesday, December 19th. Royal Bank of Canada boosted their price target on Republic Services from $163.00 to $166.00 and gave the company a “sector perform” rating in a research note on Monday, October 2nd. Wells Fargo & Company started coverage on Republic Services in a research note on Monday, November 27th. They issued an “overweight” rating and a $180.00 price target on the stock. Finally, Wolfe Research started coverage on Republic Services in a research note on Tuesday, October 17th. They issued a “peer perform” rating on the stock. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $164.77.

Check Out Our Latest Report on Republic Services

Republic Services Profile

(Free Report)

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States. 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.

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