Raymond James Financial Inc. Makes New Investment in Republic Services, Inc. (NYSE:RSG)

Raymond James Financial Inc. bought a new position in Republic Services, Inc. (NYSE:RSG - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 918,714 shares of the business services provider's stock, valued at approximately $184,827,000. Raymond James Financial Inc. owned 0.29% of Republic Services at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of RSG. Graypoint LLC increased its holdings in shares of Republic Services by 6.4% during the 3rd quarter. Graypoint LLC now owns 1,457 shares of the business services provider's stock worth $293,000 after purchasing an additional 87 shares during the period. Summit Global Investments increased its holdings in shares of Republic Services by 652.5% during the 3rd quarter. Summit Global Investments now owns 16,795 shares of the business services provider's stock worth $3,373,000 after purchasing an additional 14,563 shares during the period. Quantum Private Wealth LLC bought a new position in shares of Republic Services during the 3rd quarter worth about $201,000. Capital Performance Advisors LLP bought a new position in shares of Republic Services during the 3rd quarter worth about $62,000. Finally, Fiera Capital Corp bought a new position in shares of Republic Services during the 3rd quarter worth about $468,000. Institutional investors own 57.73% of the company's stock.

Analyst Ratings Changes

RSG has been the topic of several recent research reports. Cibc World Mkts upgraded shares of Republic Services from a "hold" rating to a "strong-buy" rating in a research 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 research note on Tuesday, December 10th. 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. BMO Capital Markets upgraded shares of Republic Services from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $211.00 to $238.00 in a research report on Friday, December 6th. Finally, Royal Bank of Canada upgraded shares of Republic Services from a "sector perform" rating to an "outperform" rating and raised their price target for the stock from $219.00 to $237.00 in a report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Republic Services has an average rating of "Moderate Buy" and a consensus price target of $236.88.

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Insider Buying and Selling

In related news, COO Gregg Brummer sold 6,293 shares of the business's 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 of the company's stock, valued at $2,376,931.20. The trade was a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.09% of the company's stock.

Republic Services Stock Performance

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

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

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Wednesday, April 2nd. Republic Services's dividend payout ratio (DPR) is 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.