Allworth Financial LP Acquires 182 Shares of Republic Services, Inc. (NYSE:RSG)

Allworth Financial LP lifted its position in shares of Republic Services, Inc. (NYSE:RSG) by 35.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 699 shares of the business services provider’s stock after purchasing an additional 182 shares during the quarter. Allworth Financial LP’s holdings in Republic Services were worth $115,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Parcion Private Wealth LLC boosted its position in shares of Republic Services by 0.3% during the fourth quarter. Parcion Private Wealth LLC now owns 23,808 shares of the business services provider’s stock worth $3,926,000 after purchasing an additional 68 shares in the last quarter. Stokes Family Office LLC boosted its position in shares of Republic Services by 2.2% during the third quarter. Stokes Family Office LLC now owns 3,209 shares of the business services provider’s stock worth $457,000 after purchasing an additional 70 shares in the last quarter. WASHINGTON TRUST Co boosted its position in shares of Republic Services by 4.5% during the fourth quarter. WASHINGTON TRUST Co now owns 1,620 shares of the business services provider’s stock worth $267,000 after purchasing an additional 70 shares in the last quarter. FinTrust Capital Advisors LLC boosted its position in shares of Republic Services by 56.3% during the third quarter. FinTrust Capital Advisors LLC now owns 197 shares of the business services provider’s stock worth $28,000 after purchasing an additional 71 shares in the last quarter. Finally, Greenleaf Trust boosted its position in shares of Republic Services by 1.6% during the third quarter. Greenleaf Trust now owns 4,504 shares of the business services provider’s stock worth $642,000 after purchasing an additional 72 shares in the last quarter. 57.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on RSG. UBS Group cut shares of Republic Services from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $175.00 to $195.00 in a research report on Thursday, February 29th. Jefferies Financial Group boosted their price objective on shares of Republic Services from $213.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Scotiabank began coverage on shares of Republic Services in a research report on Monday, April 8th. They issued a “sector perform” rating and a $211.00 price objective on the stock. The Goldman Sachs Group boosted their price objective on shares of Republic Services from $182.00 to $209.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Finally, Truist Financial boosted their price objective on shares of Republic Services from $175.00 to $192.00 and gave the company a “hold” rating in a research report on Wednesday, February 28th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Republic Services presently has an average rating of “Moderate Buy” and a consensus target price of $198.15.

Republic Services Stock Down 0.7 %

Republic Services stock opened at $187.82 on Friday. The firm has a market capitalization of $59.16 billion, a PE ratio of 34.34, a P/E/G ratio of 3.31 and a beta of 0.68. The company’s 50-day moving average is $184.44 and its 200-day moving average is $167.27. Republic Services, Inc. has a fifty-two week low of $135.33 and a fifty-two week high of $192.57. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, February 27th. The business services provider reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.13. The company had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.73 billion. Republic Services had a net margin of 11.57% and a return on equity of 17.32%. Republic Services’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.13 EPS. Sell-side analysts anticipate that Republic Services, Inc. will post 6 earnings per share for the current year.

Republic Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Tuesday, April 2nd will be paid a dividend of $0.535 per share. The ex-dividend date of this dividend is Monday, April 1st. This represents a $2.14 annualized dividend and a dividend yield of 1.14%. Republic Services’s dividend payout ratio is presently 39.12%.

Insider Transactions at Republic Services

In related news, CEO Ark Jon Vander sold 5,446 shares of Republic Services stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the completion of the sale, the chief executive officer now owns 85,113 shares of the company’s stock, valued at approximately $15,669,303.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is owned by company 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.