Edgestream Partners L.P. Boosts Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Edgestream Partners L.P. grew its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 101.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,373 shares of the business services provider's stock after buying an additional 13,788 shares during the quarter. Edgestream Partners L.P.'s holdings in Republic Services were worth $5,507,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in RSG. FSA Wealth Management LLC purchased a new stake in Republic Services during the third quarter valued at about $25,000. Arcadia Investment Management Corp MI raised its holdings in shares of Republic Services by 200.0% during the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider's stock valued at $27,000 after buying an additional 88 shares in the last quarter. R Squared Ltd bought a new stake in Republic Services in the 4th quarter worth approximately $32,000. Truvestments Capital LLC purchased a new stake in Republic Services in the third quarter worth approximately $34,000. Finally, Ashton Thomas Securities LLC bought a new position in Republic Services during the third quarter valued at approximately $39,000. 57.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RSG. Argus set a $260.00 price objective on shares of Republic Services in a research note on Tuesday, February 18th. Morgan Stanley upped their price target on shares of Republic Services from $220.00 to $230.00 and gave the company an "equal weight" rating in a research report on Friday, February 14th. Truist Financial reissued a "buy" rating and issued a $250.00 target price (up previously from $244.00) on shares of Republic Services in a research note on Friday, February 14th. Cibc World Mkts upgraded Republic Services from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 4th. Finally, Royal Bank of Canada upgraded Republic Services from a "sector perform" rating to an "outperform" rating and boosted their price objective for the company from $219.00 to $237.00 in a research report on Monday, January 6th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $236.88.

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Insider Transactions at Republic Services

In other news, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the completion of the transaction, the chief operating officer now directly owns 10,416 shares in the company, valued at approximately $2,376,931.20. This trade represents a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.09% of the company's stock.

Republic Services Trading Up 1.2 %

Shares of NYSE RSG traded up $2.79 during midday trading on Friday, hitting $234.28. 972,254 shares of the company traded hands, compared to its average volume of 1,052,239. Republic Services, Inc. has a 12-month low of $180.91 and a 12-month high of $240.95. The firm has a market cap of $73.16 billion, a P/E ratio of 36.10, a P/E/G ratio of 3.64 and a beta of 0.73. The stock has a 50-day moving average price of $218.91 and a 200 day moving average price of $210.84. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58.

Republic Services (NYSE:RSG - Get Free Report) last posted its earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.37 by $0.21. The firm had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. During the same quarter in the prior year, the business earned $1.41 EPS. As a group, analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services's dividend payout ratio is currently 35.75%.

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.