Bowen Hanes & Co. Inc. raised its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 12.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 224,760 shares of the business services provider's stock after acquiring an additional 25,675 shares during the quarter. Bowen Hanes & Co. Inc. owned approximately 0.07% of Republic Services worth $45,217,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. FSA Wealth Management LLC purchased a new position in Republic Services in the 3rd quarter worth approximately $25,000. Arcadia Investment Management Corp MI lifted its holdings in shares of Republic Services by 200.0% in the fourth quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider's stock worth $27,000 after buying an additional 88 shares in the last quarter. R Squared Ltd bought a new position in shares of Republic Services during the fourth quarter worth $32,000. Truvestments Capital LLC purchased a new position in Republic Services during the third quarter valued at $34,000. Finally, Ashton Thomas Securities LLC bought a new stake in Republic Services in the 3rd quarter valued at $39,000. Institutional investors own 57.73% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on RSG. UBS Group raised their price objective on Republic Services from $212.00 to $240.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Jefferies Financial Group lifted their price objective on Republic Services from $235.00 to $244.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. Truist Financial reiterated a "buy" rating and set a $250.00 target price (up from $244.00) on shares of Republic Services in a research report on Friday, February 14th. William Blair reaffirmed an "outperform" rating on shares of Republic Services in a research note on Friday, February 14th. Finally, Argus set a $260.00 price objective on shares of Republic Services in a research note on Tuesday, February 18th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $236.88.
View Our Latest Research Report on RSG
Insider Activity at Republic Services
In related news, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total value of $1,436,062.60. Following the completion of the sale, the chief operating officer now directly owns 10,416 shares in the company, valued at $2,376,931.20. The trade was a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.09% of the stock is owned by company insiders.
Republic Services Trading Up 1.7 %
Shares of RSG stock traded up $3.97 on Monday, reaching $235.98. 788,136 shares of the company's stock were exchanged, compared to its average volume of 1,016,002. The company's fifty day simple moving average is $221.95 and its 200 day simple moving average is $211.74. The stock has a market capitalization of $73.69 billion, a PE ratio of 36.36, a P/E/G ratio of 3.64 and a beta of 0.73. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a 52 week low of $180.92 and a 52 week high of $240.95.
Republic Services (NYSE:RSG - Get Free Report) last issued its earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.37 by $0.21. The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.08 billion. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. During the same period in the previous year, the firm earned $1.41 earnings per share. As a group, analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current year.
Republic Services Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services's dividend payout ratio is presently 35.75%.
About Republic Services
(
Free Report)
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.
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