Strategic Financial Concepts LLC Buys Shares of 46,781 Republic Services, Inc. (NYSE:RSG)

Strategic Financial Concepts LLC purchased a new stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 46,781 shares of the business services provider's stock, valued at approximately $9,411,000.

A number of other institutional investors have also modified their holdings of the company. Stifel Financial Corp boosted its stake in Republic Services by 437.9% in 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 acquiring an additional 1,477,255 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Republic Services by 23.2% during the 3rd 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 during the last quarter. International Assets Investment Management LLC boosted its position in shares of Republic Services by 83,671.9% in the 3rd quarter. International Assets Investment Management LLC now owns 538,653 shares of the business services provider's stock worth $108,183,000 after purchasing an additional 538,010 shares in the last quarter. Nordea Investment Management AB grew its stake in Republic Services by 19.4% during the 4th quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider's stock worth $626,553,000 after buying an additional 509,116 shares during the last quarter. Finally, National Bank of Canada FI increased its position in Republic Services by 544.7% during the 3rd quarter. National Bank of Canada FI now owns 545,613 shares of the business services provider's stock valued at $109,580,000 after buying an additional 460,989 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on RSG shares. William Blair restated an "outperform" rating on shares of Republic Services in a research note on Friday, February 14th. Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a "hold" rating to a "buy" rating and boosted their target price for the stock from $219.00 to $237.00 in a research report on Tuesday, December 10th. UBS Group raised their price target on shares of Republic Services from $212.00 to $240.00 and gave the stock a "neutral" rating in a report on Wednesday. Oppenheimer boosted their price objective on shares of Republic Services from $219.00 to $220.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Finally, Truist Financial restated 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. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $231.75.

Republic Services Stock Performance

NYSE:RSG traded up $1.04 during trading hours on Wednesday, reaching $229.59. The company had a trading volume of 1,133,366 shares, compared to its average volume of 1,003,249. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64. Republic Services, Inc. has a 1-year low of $179.62 and a 1-year high of $232.52. The business's 50 day moving average price is $211.64 and its 200-day moving average price is $207.96. The firm has a market cap of $71.90 billion, a PE ratio of 35.38, a price-to-earnings-growth ratio of 3.33 and a beta of 0.74.

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 (EPS) for the quarter, beating 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 net margin of 12.74% and a return on equity of 18.28%. During the same period in the previous year, the business posted $1.41 EPS. Research analysts forecast that Republic Services, Inc. will post 6.89 EPS 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. The ex-dividend date is Wednesday, April 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.01%. Republic Services's dividend payout ratio is presently 35.75%.

Insider Buying and Selling

In other Republic Services news, Director Katharine Weymouth sold 1,859 shares of the company's stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $215.27, for a total transaction of $400,186.93. Following the completion of the transaction, the director now directly owns 879 shares in the company, valued at approximately $189,222.33. This represents a 67.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.09% of the stock is currently owned by insiders.

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.