Centaurus Financial Inc. Increases Stake in Republic Services, Inc. (NYSE:RSG)

Centaurus Financial Inc. grew its holdings in Republic Services, Inc. (NYSE:RSG) by 6.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,161 shares of the business services provider’s stock after buying an additional 186 shares during the period. Centaurus Financial Inc.’s holdings in Republic Services were worth $614,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Republic Services by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 18,254,878 shares of the business services provider’s stock worth $3,494,714,000 after purchasing an additional 101,518 shares in the last quarter. Capital World Investors increased its stake in Republic Services by 20.5% during the first quarter. Capital World Investors now owns 7,909,008 shares of the business services provider’s stock worth $1,514,100,000 after acquiring an additional 1,346,588 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Republic Services by 5.4% in the 2nd quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider’s stock valued at $351,480,000 after purchasing an additional 92,013 shares during the last quarter. TD Asset Management Inc increased its position in shares of Republic Services by 2.1% during the 2nd quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider’s stock worth $341,602,000 after purchasing an additional 35,650 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Republic Services by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,476,116 shares of the business services provider’s stock valued at $286,868,000 after acquiring an additional 3,809 shares during the period. 57.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Republic Services

In other Republic Services news, Director Tomago Collins sold 3,200 shares of Republic Services stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $203.01, for a total value of $649,632.00. Following the transaction, the director now directly owns 17,486 shares in the company, valued at approximately $3,549,832.86. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on RSG. Royal Bank of Canada raised their target price on Republic Services from $201.00 to $211.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. CIBC increased their price objective on Republic Services from $196.00 to $208.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Raymond James lowered their target price on Republic Services from $219.00 to $214.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Truist Financial upgraded Republic Services from a “hold” rating to a “buy” rating and lifted their price objective for the company from $192.00 to $220.00 in a research note on Thursday, July 11th. Finally, BMO Capital Markets boosted their price target on shares of Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.65.

Republic Services Price Performance

Shares of NYSE RSG opened at $200.67 on Friday. The stock has a market cap of $63.20 billion, a P/E ratio of 35.21, a P/E/G ratio of 3.20 and a beta of 0.69. Republic Services, Inc. has a twelve month low of $141.80 and a twelve month high of $208.69. The stock has a 50 day moving average of $202.55 and a two-hundred day moving average of $194.86. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.05.

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

Republic Services Increases Dividend

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

Republic Services Company 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.