HighTower Advisors LLC Raises Position in Republic Services, Inc. (NYSE:RSG)

HighTower Advisors LLC boosted its holdings in Republic Services, Inc. (NYSE:RSG) by 0.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,461 shares of the business services provider’s stock after acquiring an additional 102 shares during the quarter. HighTower Advisors LLC’s holdings in Republic Services were worth $5,525,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of RSG. FSA Wealth Management LLC purchased a new stake in Republic Services in the third quarter valued at approximately $25,000. Arcadia Investment Management Corp MI increased its holdings in shares of Republic Services by 200.0% in the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock worth $27,000 after buying an additional 88 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Republic Services during the 4th quarter valued at $32,000. Truvestments Capital LLC bought a new stake in shares of Republic Services during the 3rd quarter worth $34,000. Finally, Bank of Jackson Hole Trust purchased a new position in Republic Services in the fourth quarter worth $48,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Stock Performance

Republic Services stock opened at $234.70 on Thursday. Republic Services, Inc. has a fifty-two week low of $180.92 and a fifty-two week high of $240.95. The stock has a market cap of $73.29 billion, a price-to-earnings ratio of 36.16, a PEG ratio of 3.64 and a beta of 0.73. The stock’s 50 day simple moving average is $223.82 and its two-hundred day simple moving average is $212.29. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58.

Republic Services (NYSE:RSG) last announced its earnings results on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.21. The firm had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. During the same quarter in the previous year, the business posted $1.41 EPS. As a group, analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be given a $0.58 dividend. The ex-dividend date is Wednesday, April 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.99%. Republic Services’s dividend payout ratio is currently 35.75%.

Analysts Set New Price Targets

Several brokerages have issued reports on RSG. The Goldman Sachs Group lifted their price target on Republic Services from $239.00 to $265.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Truist Financial reaffirmed a “buy” rating and issued a $250.00 target price (up previously from $244.00) on shares of Republic Services in a research note on Friday, February 14th. William Blair reissued an “outperform” rating on shares of Republic Services in a research note on Friday, February 14th. Morgan Stanley upped their price objective on shares of Republic Services from $220.00 to $230.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Finally, Cibc World Mkts upgraded shares of Republic Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 4th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $236.88.

Insider Buying and Selling

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total value of $1,436,062.60. Following the sale, the chief operating officer now directly owns 10,416 shares of the company’s stock, valued at approximately $2,376,931.20. The trade was a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.09% of the stock is currently owned by company insiders.

Republic Services 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.