Belpointe Asset Management LLC Raises Stake in Republic Services, Inc. (NYSE:RSG)

Belpointe Asset Management LLC lifted its position in shares of Republic Services, Inc. (NYSE:RSG) by 6.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,386 shares of the business services provider’s stock after purchasing an additional 429 shares during the period. Belpointe Asset Management LLC’s holdings in Republic Services were worth $1,538,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of RSG. Mirae Asset Global Investments Co. Ltd. increased its stake in Republic Services by 37.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,682 shares of the business services provider’s stock valued at $3,586,000 after purchasing an additional 4,827 shares during the last quarter. DnB Asset Management AS increased its holdings in shares of Republic Services by 65.1% in the 4th quarter. DnB Asset Management AS now owns 72,931 shares of the business services provider’s stock valued at $14,672,000 after acquiring an additional 28,764 shares during the period. Avanza Fonder AB acquired a new stake in Republic Services during the 4th quarter worth $4,430,000. Czech National Bank boosted its stake in shares of Republic Services by 6.1% during the fourth quarter. Czech National Bank now owns 44,134 shares of the business services provider’s stock worth $8,879,000 after buying an additional 2,548 shares during the period. Finally, Hickory Point Bank & Trust acquired a new position in Republic Services in the 4th quarter valued at about $790,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RSG. CIBC upgraded Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 price target for the company in a research note on Tuesday, March 4th. Stifel Nicolaus increased their target price on Republic Services from $240.00 to $257.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Scotiabank raised their price objective on shares of Republic Services from $233.00 to $250.00 and gave the company a “sector perform” rating in a research note on Tuesday, April 8th. Cibc World Mkts raised Republic Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 4th. Finally, Truist Financial reaffirmed a “buy” rating and set a $250.00 price target (up previously from $244.00) on shares of Republic Services in a research note on Friday, February 14th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $239.13.

Insider Activity at Republic Services

In other news, COO Gregg Brummer sold 6,293 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief operating officer now owns 10,416 shares of the company’s stock, valued at $2,376,931.20. This represents a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is owned by insiders.

Republic Services Trading Up 0.8 %

Shares of RSG opened at $245.79 on Tuesday. The stock’s fifty day simple moving average is $233.74 and its 200 day simple moving average is $217.10. Republic Services, Inc. has a twelve month low of $180.92 and a twelve month high of $249.73. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $76.76 billion, a P/E ratio of 37.87, a price-to-earnings-growth ratio of 3.64 and a beta of 0.62.

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

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be issued a dividend of $0.58 per share. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $2.32 annualized dividend and a dividend yield of 0.94%. Republic Services’s payout ratio is 35.75%.

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.