AE Wealth Management LLC Raises Position in Republic Services, Inc. (NYSE:RSG)

AE Wealth Management LLC lifted its stake in Republic Services, Inc. (NYSE:RSG) by 27.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,743 shares of the business services provider’s stock after purchasing an additional 585 shares during the quarter. AE Wealth Management LLC’s holdings in Republic Services were worth $533,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of RSG. Bridges Investment Management Inc. bought a new position in Republic Services during the 2nd quarter valued at about $1,888,000. Promethos Capital LLC grew its stake in shares of Republic Services by 129.5% during the second quarter. Promethos Capital LLC now owns 19,600 shares of the business services provider’s stock valued at $3,809,000 after buying an additional 11,060 shares during the last quarter. Garner Asset Management Corp lifted its stake in shares of Republic Services by 2.8% during the 2nd quarter. Garner Asset Management Corp now owns 4,180 shares of the business services provider’s stock worth $812,000 after acquiring an additional 113 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in Republic Services by 14.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 24,640 shares of the business services provider’s stock valued at $4,789,000 after acquiring an additional 3,058 shares during the period. Finally, Tredje AP fonden grew its position in Republic Services by 14.5% in the 2nd quarter. Tredje AP fonden now owns 47,500 shares of the business services provider’s stock valued at $9,231,000 after acquiring an additional 6,000 shares during the last quarter. Institutional investors own 57.73% of the company’s stock.

Insider Activity

In other Republic Services news, Director Tomago Collins sold 3,200 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $203.01, for a total transaction of $649,632.00. Following the completion of the transaction, the director now directly owns 17,486 shares in the company, valued at $3,549,832.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on RSG shares. Robert W. Baird boosted their target price on shares of Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Stifel Nicolaus increased their price objective on Republic Services from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. StockNews.com lowered shares of Republic Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Truist Financial upgraded shares of Republic Services from a “hold” rating to a “buy” rating and increased their price objective for the company from $192.00 to $220.00 in a research note on Thursday, July 11th. Finally, CIBC boosted their price objective on shares of Republic Services from $196.00 to $208.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $211.00.

Republic Services Price Performance

Shares of RSG opened at $200.80 on Friday. The company’s fifty day moving average price is $202.27 and its 200-day moving average price is $194.20. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a market capitalization of $63.24 billion, a PE ratio of 35.22, a price-to-earnings-growth ratio of 3.26 and a beta of 0.70. Republic Services, Inc. has a 1-year low of $140.23 and a 1-year high of $208.69.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.08. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. The business had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.03 billion. On average, equities research analysts predict that Republic Services, Inc. will post 6.18 EPS for the current year.

Republic Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be given a dividend of $0.58 per share. The ex-dividend date is Wednesday, October 2nd. This is a boost from Republic Services’s previous quarterly dividend of $0.54. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.16%. Republic Services’s dividend payout ratio (DPR) is 40.70%.

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.