Private Advisor Group LLC Increases Position in Republic Services, Inc. (NYSE:RSG)

Private Advisor Group LLC boosted its stake in Republic Services, Inc. (NYSE:RSG) by 5.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,068 shares of the business services provider’s stock after acquiring an additional 885 shares during the period. Private Advisor Group LLC’s holdings in Republic Services were worth $3,511,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RSG. YHB Investment Advisors Inc. purchased a new stake in shares of Republic Services during the first quarter worth approximately $29,000. EntryPoint Capital LLC purchased a new position in Republic Services during the 1st quarter worth $29,000. Jones Financial Companies Lllp lifted its stake 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 worth $36,000 after acquiring an additional 211 shares during the period. Indiana Trust & Investment Management CO purchased a new stake in shares of Republic Services in the second quarter valued at about $45,000. Finally, Frazier Financial Advisors LLC acquired a new position in shares of Republic Services during the fourth quarter worth about $50,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Stock Down 0.7 %

RSG opened at $204.80 on Thursday. The business’s fifty day simple moving average is $201.38 and its 200 day simple moving average is $192.89. Republic Services, Inc. has a 52 week low of $140.23 and a 52 week high of $208.69. The firm has a market cap of $64.32 billion, a P/E ratio of 35.93, a PEG ratio of 3.26 and a beta of 0.70. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.05.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.08. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.03 billion. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. As a group, equities research analysts anticipate that Republic Services, Inc. will post 6.18 EPS for the current fiscal year.

Republic Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be issued a dividend of $0.58 per share. This is a boost from Republic Services’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.13%. Republic Services’s dividend payout ratio (DPR) is 37.54%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Truist Financial upgraded shares of Republic Services from a “hold” rating to a “buy” rating and raised their price objective for the company from $192.00 to $220.00 in a research report on Thursday, July 11th. Stifel Nicolaus lifted their price target on Republic Services from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Robert W. Baird increased their price objective on Republic Services from $208.00 to $210.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. BMO Capital Markets boosted their target price on shares of Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada upped their price target on shares of Republic Services from $201.00 to $211.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $211.00.

Insider Activity

In other Republic Services news, Director Tomago Collins sold 3,200 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $203.01, for a total value of $649,632.00. Following the sale, the director now directly owns 17,486 shares of the company’s stock, valued at approximately $3,549,832.86. The sale was disclosed in a filing with the SEC, which can be accessed through 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.