Northwestern Mutual Wealth Management Co. Boosts Position in Republic Services, Inc. (NYSE:RSG)

Northwestern Mutual Wealth Management Co. increased its stake in Republic Services, Inc. (NYSE:RSG) by 158.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,171 shares of the business services provider’s stock after buying an additional 19,113 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Republic Services were worth $6,058,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Unigestion Holding SA increased its position in Republic Services by 2,178.2% during the 4th quarter. Unigestion Holding SA now owns 127,647 shares of the business services provider’s stock valued at $21,048,000 after purchasing an additional 122,044 shares during the period. Tower Research Capital LLC TRC increased its position in Republic Services by 123.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 38,869 shares of the business services provider’s stock valued at $6,410,000 after purchasing an additional 21,481 shares during the period. State Board of Administration of Florida Retirement System increased its position in Republic Services by 8.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 239,031 shares of the business services provider’s stock valued at $45,760,000 after purchasing an additional 19,414 shares during the period. Running Oak Capital LLC increased its position in Republic Services by 12.3% during the 1st quarter. Running Oak Capital LLC now owns 59,310 shares of the business services provider’s stock valued at $11,347,000 after purchasing an additional 6,475 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Republic Services by 32.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,296 shares of the business services provider’s stock valued at $18,052,000 after purchasing an additional 23,306 shares during the period. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Stock Performance

Shares of NYSE RSG opened at $200.09 on Thursday. 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, Inc. has a 12 month low of $140.23 and a 12 month high of $208.69. The company has a 50 day simple moving average of $202.09 and a two-hundred day simple moving average of $194.72. The stock has a market cap of $62.84 billion, a price-to-earnings ratio of 35.10, a PEG ratio of 3.20 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. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. The business had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $4.03 billion. As a group, analysts predict that Republic Services, Inc. will post 6.18 earnings per share for the current year.

Republic Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 1.16%. This is a boost 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 37.54%.

Wall Street Analyst Weigh In

A number of research firms have commented on RSG. Oppenheimer cut their target price on shares of Republic Services from $211.00 to $210.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. CIBC raised their price target on shares of Republic Services from $196.00 to $208.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Robert W. Baird raised their price target on shares of Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. BMO Capital Markets raised their price target on shares of Republic Services from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Finally, Truist Financial upgraded shares of Republic Services from a “hold” rating to a “buy” rating and raised their price target for the company from $192.00 to $220.00 in a report on Thursday, July 11th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Republic Services currently has an average rating of “Hold” and a consensus target price of $211.00.

Insider Buying and Selling at Republic Services

In other news, Director Tomago Collins sold 3,200 shares of Republic Services stock in a transaction that occurred 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 of the company’s stock, valued at approximately $3,549,832.86. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.09% of the company’s stock.

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.