Guardian Capital LP Purchases 2,051 Shares of Republic Services, Inc. (NYSE:RSG)

Guardian Capital LP grew its stake in shares of Republic Services, Inc. (NYSE:RSG) by 1.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,450 shares of the business services provider’s stock after buying an additional 2,051 shares during the period. Guardian Capital LP’s holdings in Republic Services were worth $22,422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Republic Services in the 4th quarter worth approximately $553,039,000. Raymond James Financial Inc. acquired a new position in Republic Services during the fourth quarter valued at $184,827,000. Nordea Investment Management AB lifted its position in Republic Services by 19.4% during the fourth quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock valued at $626,553,000 after purchasing an additional 509,116 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Republic Services by 10.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,317,804 shares of the business services provider’s stock valued at $1,069,836,000 after buying an additional 499,237 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Republic Services by 13.1% in the fourth quarter. Northern Trust Corp now owns 2,426,215 shares of the business services provider’s stock valued at $488,106,000 after buying an additional 280,542 shares in the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Trading Up 0.6 %

Republic Services stock opened at $247.64 on Wednesday. The business’s 50-day simple moving average is $237.54 and its 200-day simple moving average is $220.16. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. The firm has a market capitalization of $77.38 billion, a PE ratio of 38.16, a PEG ratio of 3.64 and a beta of 0.62. Republic Services, Inc. has a 52 week low of $180.92 and a 52 week high of $249.73.

Republic Services (NYSE:RSG) last issued its earnings results on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.53 by $0.05. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The company had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the previous year, the company earned $1.45 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Wednesday, July 2nd will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Wednesday, July 2nd. Republic Services’s dividend payout ratio is presently 34.99%.

Wall Street Analyst Weigh In

RSG has been the subject of a number of research reports. Scotiabank boosted their target price on shares of Republic Services from $233.00 to $250.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 8th. Truist Financial raised their target price on Republic Services from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday, April 22nd. Jefferies Financial Group raised their target price on Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. William Blair reaffirmed an “outperform” rating on shares of Republic Services in a research note on Friday, April 25th. Finally, BMO Capital Markets boosted their target price on Republic Services from $260.00 to $268.00 and gave the stock an “outperform” rating in a research note on Friday, April 25th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $249.00.

Insider Activity at Republic Services

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the transaction, the chief operating officer now owns 10,416 shares of the company’s stock, valued at $2,376,931.20. The trade was a 37.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.11% of the stock is owned by 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.