Daiwa Securities Group Inc. Buys 1,498 Shares of Republic Services, Inc. (NYSE:RSG)

Daiwa Securities Group Inc. grew its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 8.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 19,572 shares of the business services provider’s stock after purchasing an additional 1,498 shares during the period. Daiwa Securities Group Inc.’s holdings in Republic Services were worth $3,228,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. FinTrust Capital Advisors LLC raised its holdings in shares of Republic Services by 56.3% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 197 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 71 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new position in Republic Services in the fourth quarter valued at about $34,000. BKM Wealth Management LLC acquired a new position in Republic Services during the fourth quarter worth about $37,000. Bruce G. Allen Investments LLC acquired a new position in Republic Services during the fourth quarter worth about $41,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Republic Services during the first quarter worth about $34,000. 57.73% of the stock is owned by institutional investors.

Republic Services Stock Up 0.4 %

Republic Services stock opened at $189.76 on Friday. The stock has a market cap of $59.77 billion, a PE ratio of 34.69, a price-to-earnings-growth ratio of 3.32 and a beta of 0.68. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. Republic Services, Inc. has a one year low of $135.33 and a one year high of $192.57. The stock has a fifty day moving average of $185.90 and a 200 day moving average of $169.01.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Tuesday, February 27th. The business services provider reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.13. The business had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.73 billion. Republic Services had a return on equity of 17.32% and a net margin of 11.57%. Republic Services’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.13 earnings per share. As a group, sell-side analysts predict that Republic Services, Inc. will post 6.01 EPS for the current year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Tuesday, April 2nd were given a dividend of $0.535 per share. The ex-dividend date was Monday, April 1st. This represents a $2.14 dividend on an annualized basis and a yield of 1.13%. Republic Services’s dividend payout ratio (DPR) is presently 39.12%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RSG shares. Wells Fargo & Company boosted their price target on Republic Services from $180.00 to $188.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. Morgan Stanley cut Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 price target on the stock. in a report on Friday, March 15th. Royal Bank of Canada assumed coverage on Republic Services in a research report on Monday, April 8th. They set a “sector perform” rating and a $198.00 target price on the stock. Truist Financial upped their target price on Republic Services from $175.00 to $192.00 and gave the stock a “hold” rating in a research report on Wednesday, February 28th. Finally, UBS Group lowered Republic Services from a “buy” rating to a “neutral” rating and increased their price target for the company from $175.00 to $195.00 in a research report on Thursday, February 29th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $199.77.

Insider Buying and Selling at Republic Services

In other news, CEO Ark Jon Vander sold 5,446 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $184.10, for a total value of $1,002,608.60. Following the sale, the chief executive officer now directly owns 85,113 shares in the company, valued at $15,669,303.30. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.09% of the company’s stock.

About Republic Services

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.