Wedgewood Investors Inc. PA Purchases Shares of 5,465 Republic Services, Inc. (NYSE:RSG)

Wedgewood Investors Inc. PA bought a new position in Republic Services, Inc. (NYSE:RSG - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm bought 5,465 shares of the business services provider's stock, valued at approximately $1,062,000. Republic Services makes up 1.3% of Wedgewood Investors Inc. PA's investment portfolio, making the stock its 21st largest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Unigestion Holding SA raised its holdings in shares of Republic Services by 2,178.2% in the 4th quarter. Unigestion Holding SA now owns 127,647 shares of the business services provider's stock valued at $21,048,000 after acquiring an additional 122,044 shares in the last quarter. Bank of Nova Scotia lifted its position in Republic Services by 52.3% in the 4th quarter. Bank of Nova Scotia now owns 214,504 shares of the business services provider's stock valued at $35,357,000 after acquiring an additional 73,651 shares in the last quarter. TCW Group Inc. purchased a new position in shares of Republic Services during the fourth quarter valued at approximately $17,903,000. Hsbc Holdings PLC lifted its holdings in Republic Services by 8.7% in the fourth quarter. Hsbc Holdings PLC now owns 456,726 shares of the business services provider's stock valued at $75,297,000 after acquiring an additional 36,484 shares during the period. Finally, Allianz Asset Management GmbH grew its holdings in Republic Services by 10.4% during the fourth quarter. Allianz Asset Management GmbH now owns 591,209 shares of the business services provider's stock valued at $97,496,000 after purchasing an additional 55,668 shares during the period. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Stock Performance

RSG stock traded down $0.64 during midday trading on Friday, hitting $206.27. The company's stock had a trading volume of 675,609 shares, compared to its average volume of 1,194,672. The stock has a market cap of $64.96 billion, a price-to-earnings ratio of 36.19, a PEG ratio of 3.26 and a beta of 0.69. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.05. Republic Services, Inc. has a 1 year low of $140.23 and a 1 year high of $208.00. The stock's 50-day moving average price is $197.97 and its 200 day moving average price is $190.47.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.61 earnings per share for the quarter, beating analysts' consensus estimates of $1.53 by $0.08. The business had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.03 billion. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. On average, equities analysts forecast that Republic Services, Inc. will post 6.18 EPS for the current year.

Republic Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be paid a $0.58 dividend. 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 dividend on an annualized basis and a dividend yield of 1.12%. Republic Services's payout ratio is currently 40.70%.

Analysts Set New Price Targets

RSG has been the topic of several analyst reports. Stifel Nicolaus upped their price target on shares of Republic Services from $215.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, July 25th. Royal Bank of Canada boosted their price objective on Republic Services from $201.00 to $211.00 and gave the company a "sector perform" rating in a report on Thursday, July 25th. Truist Financial raised shares of Republic Services from a "hold" rating to a "buy" rating and lifted their price target for the company from $192.00 to $220.00 in a research note on Thursday, July 11th. UBS Group boosted their price target on shares of Republic Services from $195.00 to $200.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 1st. Finally, BMO Capital Markets lifted their price objective on Republic Services from $209.00 to $211.00 and gave the company a "market perform" rating in a research note on Thursday, July 25th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Republic Services has an average rating of "Hold" and a consensus price target of $211.00.

Insiders Place Their Bets

In other news, Director Katharine Weymouth acquired 540 shares of the company's stock in a transaction on Tuesday, June 4th. The stock was bought at an average cost of $185.26 per share, with a total value of $100,040.40. Following the completion of the purchase, the director now directly owns 540 shares of the company's stock, valued at $100,040.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Tomago Collins sold 3,200 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $203.01, for a total transaction of $649,632.00. Following the sale, the director now owns 17,486 shares of the company's stock, valued at approximately $3,549,832.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Katharine Weymouth purchased 540 shares of the business's stock in a transaction that occurred on Tuesday, June 4th. The stock was bought at an average cost of $185.26 per share, with a total value of $100,040.40. Following the acquisition, the director now owns 540 shares in the company, valued at approximately $100,040.40. The disclosure for this purchase can be found here. Insiders own 0.09% of the company's stock.

About Republic Services

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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