Proficio Capital Partners LLC Invests $30.23 Million in Republic Services, Inc. (NYSE:RSG)

Proficio Capital Partners LLC purchased a new position in Republic Services, Inc. (NYSE:RSG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 150,264 shares of the business services provider's stock, valued at approximately $30,230,000.

Other institutional investors also recently bought and sold shares of the company. Stifel Financial Corp increased its stake in shares of Republic Services by 437.9% during the third quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider's stock valued at $364,449,000 after purchasing an additional 1,477,255 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Republic Services by 23.2% during the third quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider's stock valued at $1,205,883,000 after purchasing an additional 1,131,850 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Republic Services by 19.4% during the fourth quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider's stock valued at $626,553,000 after purchasing an additional 509,116 shares in the last quarter. National Bank of Canada FI increased its stake in shares of Republic Services by 544.7% during the third quarter. National Bank of Canada FI now owns 545,613 shares of the business services provider's stock valued at $109,580,000 after purchasing an additional 460,989 shares in the last quarter. Finally, Two Sigma Advisers LP increased its stake in shares of Republic Services by 169.3% during the third quarter. Two Sigma Advisers LP now owns 554,500 shares of the business services provider's stock valued at $111,366,000 after purchasing an additional 348,600 shares in the last quarter. 57.73% of the stock is owned by institutional investors.

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Republic Services Stock Performance

Shares of Republic Services stock traded down $1.90 on Tuesday, hitting $233.86. 946,122 shares of the company's stock were exchanged, compared to its average volume of 1,015,508. The company has a 50-day simple moving average of $222.65 and a 200-day simple moving average of $211.95. The stock has a market capitalization of $73.03 billion, a PE ratio of 36.03, a PEG ratio of 3.64 and a beta of 0.73. Republic Services, Inc. has a 1 year low of $180.92 and a 1 year high of $240.95. 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 announced its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, beating the consensus estimate 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 net margin of 12.74% and a return on equity of 18.28%. During the same period last year, the firm earned $1.41 EPS. As a group, equities analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Announces Dividend

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

Analyst Upgrades and Downgrades

RSG has been the subject of a number of analyst reports. BMO Capital Markets raised shares of Republic Services from a "market perform" rating to an "outperform" rating and raised their target price for the company from $211.00 to $238.00 in a research note on Friday, December 6th. Cibc World Mkts upgraded shares of Republic Services from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft upgraded shares of Republic Services from a "hold" rating to a "buy" rating and increased their price target for the company from $219.00 to $237.00 in a report on Tuesday, December 10th. UBS Group increased their price target on shares of Republic Services from $212.00 to $240.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Finally, Truist Financial reiterated a "buy" rating and set a $250.00 price target (up previously from $244.00) on shares of Republic Services in a report on Friday, February 14th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $236.88.

Insider Activity

In other news, COO Gregg Brummer sold 6,293 shares of the firm's stock in a transaction 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 sale, the chief operating officer now directly owns 10,416 shares in the company, valued at $2,376,931.20. This trade represents a 37.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.09% of the company's stock.

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.