Mizuho Securities USA LLC Acquires 6,054 Shares of Republic Services, Inc. (NYSE:RSG)

Mizuho Securities USA LLC increased its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 45.7% during the fourth quarter, HoldingsChannel reports. The firm owned 19,292 shares of the business services provider’s stock after buying an additional 6,054 shares during the period. Mizuho Securities USA LLC’s holdings in Republic Services were worth $3,881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. McGlone Suttner Wealth Management Inc. lifted its holdings in shares of Republic Services by 2.2% during the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 2,213 shares of the business services provider’s stock valued at $445,000 after purchasing an additional 48 shares in the last quarter. Access Financial Services Inc. lifted its holdings in Republic Services by 0.8% in the fourth quarter. Access Financial Services Inc. now owns 6,178 shares of the business services provider’s stock valued at $1,243,000 after acquiring an additional 51 shares during the period. Hantz Financial Services Inc. lifted its holdings in Republic Services by 1.0% in the third quarter. Hantz Financial Services Inc. now owns 5,099 shares of the business services provider’s stock valued at $1,024,000 after acquiring an additional 52 shares during the period. Tower Wealth Partners Inc. lifted its holdings in Republic Services by 3.3% in the fourth quarter. Tower Wealth Partners Inc. now owns 1,697 shares of the business services provider’s stock valued at $341,000 after acquiring an additional 54 shares during the period. Finally, First Horizon Advisors Inc. lifted its holdings in Republic Services by 11.6% in the third quarter. First Horizon Advisors Inc. now owns 529 shares of the business services provider’s stock valued at $106,000 after acquiring an additional 55 shares during the period. 57.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on RSG shares. UBS Group increased their target price on Republic Services from $212.00 to $240.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Jefferies Financial Group upped their price target on Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Argus set a $260.00 price target on Republic Services in a research report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and upped their price target for the stock from $219.00 to $237.00 in a research report on Tuesday, December 10th. Finally, Royal Bank of Canada upgraded Republic Services from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $219.00 to $237.00 in a research report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $236.88.

Insider Activity

In other news, COO Gregg Brummer sold 6,293 shares of the firm’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 value of $1,436,062.60. Following the completion of the sale, the chief operating officer now directly owns 10,416 shares of the company’s stock, valued at $2,376,931.20. This trade represents a 37.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.09% of the company’s stock.

Republic Services Stock Performance

NYSE RSG opened at $232.95 on Monday. The stock has a market capitalization of $72.75 billion, a PE ratio of 35.89, a P/E/G ratio of 3.64 and a beta of 0.73. The business has a 50 day simple moving average of $224.90 and a two-hundred day simple moving average of $212.70. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64. Republic Services, Inc. has a 1-year low of $180.92 and a 1-year high of $240.95.

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

Republic Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 1.00%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s dividend payout ratio is presently 35.75%.

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.