Madison Investment Holdings Inc. Decreases Stake in Republic Services, Inc. (RSG)

Madison Investment Holdings Inc. cut its position in Republic Services, Inc. (NYSE:RSG) by 46.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 110,084 shares of the business services provider’s stock after selling 97,019 shares during the period. Madison Investment Holdings Inc.’s holdings in Republic Services were worth $6,914,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Blue Chip Partners Inc. increased its stake in shares of Republic Services by 0.6% in the first quarter. Blue Chip Partners Inc. now owns 4,738 shares of the business services provider’s stock worth $298,000 after buying an additional 26 shares during the last quarter. Sigma Planning Corp increased its stake in shares of Republic Services by 0.6% in the first quarter. Sigma Planning Corp now owns 7,332 shares of the business services provider’s stock worth $461,000 after buying an additional 43 shares during the last quarter. OLD Dominion Capital Management Inc. increased its stake in shares of Republic Services by 0.3% in the first quarter. OLD Dominion Capital Management Inc. now owns 24,758 shares of the business services provider’s stock worth $1,555,000 after buying an additional 83 shares during the last quarter. Ffcm LLC increased its stake in shares of Republic Services by 1.2% in the first quarter. Ffcm LLC now owns 8,274 shares of the business services provider’s stock worth $520,000 after buying an additional 99 shares during the last quarter. Finally, Cedar Wealth Management LLC increased its stake in shares of Republic Services by 3.0% in the first quarter. Cedar Wealth Management LLC now owns 4,620 shares of the business services provider’s stock worth $290,000 after buying an additional 134 shares during the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

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

Shares of Republic Services, Inc. (NYSE:RSG) traded up 0.47% during trading on Friday, reaching $64.73. The company’s stock had a trading volume of 278,472 shares. The company has a 50 day moving average price of $62.92 and a 200 day moving average price of $59.88. Republic Services, Inc. has a 52 week low of $48.43 and a 52 week high of $64.78. The firm has a market capitalization of $21.88 billion, a P/E ratio of 34.43 and a beta of 0.59.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, April 27th. The business services provider reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.02. The firm had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Republic Services had a return on equity of 9.62% and a net margin of 6.40%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.48 EPS. On average, equities research analysts expect that Republic Services, Inc. will post $2.38 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Monday, July 3rd will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.99%. The ex-dividend date is Thursday, June 29th. Republic Services’s dividend payout ratio (DPR) is presently 74.85%.

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A number of analysts have recently commented on the company. Credit Suisse Group AG set a $63.00 target price on Republic Services and gave the stock a “hold” rating in a research note on Sunday, April 30th. Zacks Investment Research upgraded Republic Services from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research note on Thursday, May 25th. Barclays PLC restated a “hold” rating and issued a $59.00 target price on shares of Republic Services in a research note on Friday, April 28th. Wedbush upped their target price on Republic Services from $62.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, March 30th. Finally, Stifel Nicolaus upped their target price on Republic Services from $60.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, February 13th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Republic Services currently has an average rating of “Hold” and a consensus price target of $66.33.

In related news, Director Tomago Collins sold 1,280 shares of the business’s stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $61.77, for a total value of $79,065.60. Following the transaction, the director now owns 9,823 shares in the company, valued at approximately $606,766.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.50% of the company’s stock.

Republic Services Company 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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