Rafferty Asset Management LLC Acquires 803 Shares of Republic Services, Inc. (NYSE:RSG)

Rafferty Asset Management LLC boosted its holdings in Republic Services, Inc. (NYSE:RSGFree Report) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,156 shares of the business services provider’s stock after purchasing an additional 803 shares during the period. Rafferty Asset Management LLC’s holdings in Republic Services were worth $2,829,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in RSG. NEOS Investment Management LLC grew its position in shares of Republic Services by 29.6% in the 4th quarter. NEOS Investment Management LLC now owns 2,891 shares of the business services provider’s stock valued at $477,000 after acquiring an additional 661 shares during the period. Jones Financial Companies Lllp grew its position in shares of Republic Services by 3,014.3% in the 4th quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 211 shares during the period. Steward Partners Investment Solutions LLC bought a new position in shares of Republic Services in the 4th quarter valued at about $482,000. Rathbones Group PLC grew its position in shares of Republic Services by 18.3% in the 4th quarter. Rathbones Group PLC now owns 50,672 shares of the business services provider’s stock valued at $8,356,000 after acquiring an additional 7,826 shares during the period. Finally, Schulz Wealth LTD. bought a new position in shares of Republic Services in the 4th quarter valued at about $234,000. Institutional investors own 57.73% of the company’s stock.

Insider Activity at Republic Services

In related news, CMO Amanda Hodges sold 6,500 shares of Republic Services stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the sale, the chief marketing officer now directly owns 6,831 shares of the company’s stock, valued at approximately $1,270,702.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CMO Amanda Hodges sold 6,500 shares of Republic Services stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the sale, the chief marketing officer now directly owns 6,831 shares of the company’s stock, valued at approximately $1,270,702.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Katharine Weymouth purchased 540 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were bought at an average cost of $185.26 per share, for a total transaction of $100,040.40. Following the completion of the acquisition, the director now directly owns 540 shares in the company, valued at approximately $100,040.40. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by insiders.

Republic Services Price Performance

Shares of NYSE:RSG opened at $186.95 on Friday. The firm has a 50 day moving average of $187.95 and a 200-day moving average of $178.11. The stock has a market capitalization of $58.88 billion, a PE ratio of 32.80, a PEG ratio of 3.14 and a beta of 0.68. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.05. Republic Services, Inc. has a 12 month low of $140.23 and a 12 month high of $196.76.

Republic Services (NYSE:RSGGet Free Report) last issued its earnings results on Tuesday, April 30th. The business services provider reported $1.45 EPS for the quarter, beating the consensus estimate of $1.35 by $0.10. The company had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Republic Services had a net margin of 11.81% and a return on equity of 17.56%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.24 EPS. On average, equities research analysts predict that Republic Services, Inc. will post 6.05 EPS for the current fiscal year.

Republic Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Tuesday, July 2nd will be issued a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Tuesday, July 2nd. Republic Services’s dividend payout ratio (DPR) is presently 37.54%.

Analyst Upgrades and Downgrades

RSG has been the subject of a number of analyst reports. Citigroup lifted their price objective on shares of Republic Services from $190.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Royal Bank of Canada assumed coverage on shares of Republic Services in a research note on Monday, April 8th. They set a “sector perform” rating and a $198.00 target price for the company. Oppenheimer raised their target price on shares of Republic Services from $202.00 to $204.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Truist Financial raised their target price on shares of Republic Services from $175.00 to $192.00 and gave the stock a “hold” rating in a research note on Wednesday, February 28th. Finally, Morgan Stanley cut shares of Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 target price for the company. in a research note on Friday, March 15th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.14.

Check Out Our Latest Research Report on RSG

About Republic Services

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

Receive News & Ratings for Republic Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Republic Services and related companies with MarketBeat.com's FREE daily email newsletter.