9,716 Shares in Republic Services, Inc. (NYSE:RSG) Bought by Bridges Investment Management Inc.

Bridges Investment Management Inc. bought a new stake in shares of Republic Services, Inc. (NYSE:RSG) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 9,716 shares of the business services provider’s stock, valued at approximately $1,888,000.

A number of other hedge funds also recently made changes to their positions in RSG. YHB Investment Advisors Inc. purchased a new stake in Republic Services during the first quarter worth about $29,000. EntryPoint Capital LLC purchased a new position in Republic Services in the first quarter valued at approximately $29,000. Jones Financial Companies Lllp grew its holdings in Republic Services by 3,014.3% during the fourth quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 211 shares during the period. Indiana Trust & Investment Management CO bought a new stake in shares of Republic Services in the second quarter valued at $45,000. Finally, J.Safra Asset Management Corp grew its stake in shares of Republic Services by 584.2% during the 1st quarter. J.Safra Asset Management Corp now owns 260 shares of the business services provider’s stock worth $50,000 after acquiring an additional 222 shares during the period. 57.73% of the stock is currently owned by institutional investors.

Republic Services Stock Up 0.2 %

Shares of NYSE:RSG opened at $201.39 on Friday. The firm has a fifty day moving average of $202.28 and a 200 day moving average of $193.72. Republic Services, Inc. has a 52-week low of $140.23 and a 52-week high of $208.69. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market capitalization of $63.42 billion, a PE ratio of 35.33, a price-to-earnings-growth ratio of 3.30 and a beta of 0.70.

Republic Services (NYSE:RSG) last announced its quarterly earnings data 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. The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.03 billion. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. As a group, 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 $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.15%. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. The ex-dividend date is Wednesday, October 2nd. Republic Services’s payout ratio is presently 40.70%.

Insider Activity at Republic Services

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

Analysts Set New Price Targets

Several equities research analysts have commented on RSG shares. Royal Bank of Canada upped their price objective on shares of Republic Services from $201.00 to $211.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Truist Financial upgraded shares of Republic Services from a “hold” rating to a “buy” rating and upped their price target for the company from $192.00 to $220.00 in a research note on Thursday, July 11th. TD Cowen lifted their price objective on shares of Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a research note on Monday, August 5th. StockNews.com lowered Republic Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Finally, Oppenheimer decreased their price objective on Republic Services from $211.00 to $210.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Republic Services currently has a consensus rating of “Hold” and a consensus price target of $211.00.

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.