SVB Wealth LLC Takes $1.75 Million Position in Republic Services, Inc. (NYSE:RSG)

SVB Wealth LLC purchased a new stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,690 shares of the business services provider's stock, valued at approximately $1,748,000.

A number of other large investors have also modified their holdings of the company. Assenagon Asset Management S.A. increased its stake in shares of Republic Services by 15.2% in the third quarter. Assenagon Asset Management S.A. now owns 5,663 shares of the business services provider's stock valued at $1,137,000 after purchasing an additional 746 shares during the period. Farther Finance Advisors LLC raised its stake in Republic Services by 1.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 6,102 shares of the business services provider's stock valued at $1,226,000 after acquiring an additional 96 shares in the last quarter. Princeton Global Asset Management LLC boosted its position in Republic Services by 7.4% during the 3rd quarter. Princeton Global Asset Management LLC now owns 11,129 shares of the business services provider's stock worth $2,235,000 after acquiring an additional 769 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of Republic Services by 1.3% during the third quarter. Janney Montgomery Scott LLC now owns 55,581 shares of the business services provider's stock valued at $11,163,000 after purchasing an additional 726 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Republic Services by 7.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 417,756 shares of the business services provider's stock valued at $83,902,000 after purchasing an additional 29,273 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company's stock.

Republic Services Stock Down 0.1 %

Shares of RSG traded down $0.29 during mid-day trading on Wednesday, reaching $235.66. The company's stock had a trading volume of 1,367,735 shares, compared to its average volume of 1,051,725. Republic Services, Inc. has a 1 year low of $180.91 and a 1 year high of $240.95. The company has a market cap of $73.59 billion, a price-to-earnings ratio of 36.31, a price-to-earnings-growth ratio of 3.64 and a beta of 0.74. 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 business has a fifty day moving average of $217.11 and a 200 day moving average of $210.28.

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

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be issued a dividend of $0.58 per share. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.98%. Republic Services's dividend payout ratio is currently 35.75%.

Insider Activity at Republic Services

In related news, Director Katharine Weymouth sold 1,859 shares of the business's stock in a transaction dated Thursday, December 5th. The stock was 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 owns 879 shares of the company's stock, valued at approximately $189,222.33. The trade was a 67.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Gregg Brummer sold 6,293 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were 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 in the company, valued at $2,376,931.20. This trade represents a 37.66 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Truist Financial reissued a "buy" rating and set a $250.00 target price (up previously from $244.00) on shares of Republic Services in a research note on Friday, February 14th. UBS Group upped their target price on Republic Services from $212.00 to $240.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Morgan Stanley lifted their price target on Republic Services from $220.00 to $230.00 and gave the company an "equal weight" rating in a research report on Friday, February 14th. Deutsche Bank Aktiengesellschaft raised Republic Services from a "hold" rating to a "buy" rating and raised their target price for the company from $219.00 to $237.00 in a research note on Tuesday, December 10th. Finally, William Blair reissued an "outperform" rating on shares of Republic Services in a report on Friday, February 14th. Five 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.com, the company presently has an average rating of "Moderate Buy" and an average price target of $236.88.

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.