ProVise Management Group LLC Sells 1,547 Shares of Republic Services, Inc. (RSG)

ProVise Management Group LLC trimmed its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 19.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,593 shares of the business services provider’s stock after selling 1,547 shares during the period. ProVise Management Group LLC’s holdings in Republic Services were worth $446,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. American Century Companies Inc. raised its stake in shares of Republic Services by 5.4% during the fourth quarter. American Century Companies Inc. now owns 7,882,739 shares of the business services provider’s stock worth $532,952,000 after buying an additional 405,985 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Republic Services by 0.3% during the third quarter. JPMorgan Chase & Co. now owns 6,833,445 shares of the business services provider’s stock worth $453,398,000 after buying an additional 23,456 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Republic Services by 2.2% during the third quarter. Wells Fargo & Company MN now owns 5,201,905 shares of the business services provider’s stock worth $343,639,000 after buying an additional 114,211 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Republic Services by 2.7% during the third quarter. Janus Henderson Group PLC now owns 3,847,676 shares of the business services provider’s stock worth $254,177,000 after buying an additional 102,801 shares during the last quarter. Finally, Gamco Investors INC. ET AL raised its stake in shares of Republic Services by 0.3% during the third quarter. Gamco Investors INC. ET AL now owns 2,663,050 shares of the business services provider’s stock worth $175,921,000 after buying an additional 7,903 shares during the last quarter. 59.31% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently weighed in on RSG. Credit Suisse Group dropped their price target on shares of Republic Services from $67.00 to $64.00 and set a “neutral” rating for the company in a research note on Monday. BMO Capital Markets dropped their price target on shares of Republic Services from $74.00 to $70.00 and set an “outperform” rating for the company in a research note on Friday, February 9th. Zacks Investment Research raised shares of Republic Services from a “hold” rating to a “strong-buy” rating and set a $75.00 price target for the company in a research note on Wednesday, February 7th. Bank of America boosted their price target on shares of Republic Services from $70.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. Finally, Stifel Nicolaus raised shares of Republic Services from a “hold” rating to a “buy” rating and boosted their price target for the stock from $70.00 to $73.00 in a research note on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $68.57.

In other Republic Services news, CAO Brian A. Goebel sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $67.57, for a total value of $135,140.00. Following the completion of the sale, the chief accounting officer now owns 6,696 shares of the company’s stock, valued at $452,448.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Donald W. Slager sold 98,132 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $64.19, for a total transaction of $6,299,093.08. Following the completion of the sale, the chief executive officer now directly owns 322,541 shares of the company’s stock, valued at approximately $20,703,906.79. The disclosure for this sale can be found here. Insiders sold 104,642 shares of company stock valued at $6,741,314 in the last ninety days. Insiders own 0.40% of the company’s stock.

Shares of Republic Services, Inc. (NYSE RSG) opened at $64.52 on Thursday. Republic Services, Inc. has a 12 month low of $58.06 and a 12 month high of $69.40. The company has a quick ratio of 0.51, a current ratio of 0.55 and a debt-to-equity ratio of 0.94. The company has a market cap of $20,959.19, a P/E ratio of 25.93, a price-to-earnings-growth ratio of 2.01 and a beta of 0.54.

Republic Services (NYSE:RSG) last issued its earnings results on Thursday, February 8th. The business services provider reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.04. Republic Services had a net margin of 12.73% and a return on equity of 10.61%. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the firm earned $0.57 earnings per share. The business’s quarterly revenue was up 7.6% on a year-over-year basis. equities research analysts forecast that Republic Services, Inc. will post 3.08 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Monday, April 2nd will be paid a $0.345 dividend. This represents a $1.38 annualized dividend and a yield of 2.14%. The ex-dividend date is Thursday, March 29th. Republic Services’s payout ratio is presently 36.41%.

Republic Services declared that its board has authorized a stock buyback plan on Thursday, November 2nd that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

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Republic Services Profile

Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.

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

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