SouthState Corp Buys 3,385 Shares of Republic Services, Inc. (NYSE:RSG)

SouthState Corp boosted its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 15.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,609 shares of the business services provider's stock after purchasing an additional 3,385 shares during the quarter. SouthState Corp's holdings in Republic Services were worth $4,977,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. YHB Investment Advisors Inc. bought a new stake in shares of Republic Services during the 1st quarter valued at $29,000. EntryPoint Capital LLC bought a new stake in shares of Republic Services during the 1st quarter valued at $29,000. Bogart Wealth LLC bought a new stake in shares of Republic Services during the 4th quarter valued at $30,000. Jones Financial Companies Lllp lifted its position in shares of Republic Services by 3,014.3% during the 4th quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider's stock valued at $36,000 after acquiring an additional 211 shares during the period. Finally, Indiana Trust & Investment Management CO bought a new stake in shares of Republic Services during the 2nd quarter valued at $45,000. 57.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on RSG shares. Deutsche Bank Aktiengesellschaft started 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. Oppenheimer dropped their price objective on Republic Services from $211.00 to $210.00 and set an "outperform" rating for the company in a research report on Thursday, July 25th. StockNews.com downgraded Republic Services from a "strong-buy" rating to a "buy" rating in a research report on Thursday, August 1st. Robert W. Baird upped their price objective on Republic Services from $208.00 to $210.00 and gave the stock a "neutral" rating in a research report on Thursday, July 25th. Finally, Raymond James dropped their price objective on Republic Services from $219.00 to $214.00 and set an "outperform" rating for the company in a research report on Thursday, July 25th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $211.00.

Republic Services Trading Down 1.1 %

Shares of RSG stock traded down $2.28 on Thursday, hitting $205.43. The company had a trading volume of 666,530 shares, compared to its average volume of 1,175,482. The firm has a market cap of $64.52 billion, a P/E ratio of 36.04, a P/E/G ratio of 3.34 and a beta of 0.70. The stock's 50-day moving average is $200.48 and its two-hundred day moving average is $192.18. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.59 and a current ratio of 0.59. Republic Services, Inc. has a twelve month low of $140.23 and a twelve month high of $208.69.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $4.03 billion. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. On average, equities research analysts anticipate that Republic Services, Inc. will post 6.18 earnings per share 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. Investors of record on Wednesday, October 2nd will be paid a dividend of $0.58 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $2.32 annualized dividend and a yield of 1.13%. This is a boost from Republic Services's previous quarterly dividend of $0.54. Republic Services's dividend payout ratio (DPR) is currently 37.54%.

Insider Buying and Selling

In other Republic Services news, Director Tomago Collins sold 3,200 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $203.01, for a total value of $649,632.00. Following the transaction, the director now owns 17,486 shares in the company, valued at $3,549,832.86. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is currently owned by insiders.

Republic Services 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.