Cobblestone Capital Advisors LLC NY Purchases 37,208 Shares of Republic Services, Inc. (NYSE:RSG)

Cobblestone Capital Advisors LLC NY lifted its position in shares of Republic Services, Inc. (NYSE:RSG) by 1,815.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,257 shares of the business services provider’s stock after acquiring an additional 37,208 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Republic Services were worth $7,629,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RSG. YHB Investment Advisors Inc. bought a new position in Republic Services in the 1st quarter valued at approximately $29,000. EntryPoint Capital LLC bought a new position in Republic Services in the 1st quarter valued at approximately $29,000. Jones Financial Companies Lllp lifted its stake in Republic Services by 3,014.3% in the 4th quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 211 shares during the last quarter. Indiana Trust & Investment Management CO bought a new position in Republic Services in the 2nd quarter valued at approximately $45,000. Finally, Frazier Financial Advisors LLC bought a new position in shares of Republic Services during the fourth quarter valued at $50,000. Institutional investors own 57.73% of the company’s stock.

Insider Activity

In other news, Director Tomago Collins sold 3,200 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $203.01, for a total transaction of $649,632.00. Following the completion of the sale, the director now directly owns 17,486 shares of the company’s stock, valued at approximately $3,549,832.86. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.09% of the company’s stock.

Republic Services Stock Down 1.3 %

Shares of RSG traded down $2.61 during trading hours on Friday, hitting $202.82. The stock had a trading volume of 1,033,364 shares, compared to its average volume of 1,174,679. The firm has a market capitalization of $63.87 billion, a P/E ratio of 35.58, a price-to-earnings-growth ratio of 3.34 and a beta of 0.70. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.59 and a quick ratio of 0.59. Republic Services, Inc. has a 1-year low of $140.23 and a 1-year high of $208.69. The firm has a 50 day simple moving average of $200.65 and a 200-day simple moving average of $192.34.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.08. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. The business had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.03 billion. Sell-side analysts predict that Republic Services, Inc. will post 6.18 EPS for the current fiscal year.

Republic Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. This represents a $2.32 annualized dividend and a dividend yield of 1.14%. Republic Services’s dividend payout ratio (DPR) is currently 40.70%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. BMO Capital Markets increased their price objective on Republic Services from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft assumed coverage on Republic Services in a research report on Thursday, May 23rd. They set a “hold” rating and a $203.00 target price for the company. Robert W. Baird raised their target price on Republic Services from $208.00 to $210.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Stifel Nicolaus raised their target price on Republic Services from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, StockNews.com lowered Republic Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $211.00.

Republic Services Company 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.