Steward Partners Investment Advisory LLC Has $2.72 Million Stake in Republic Services, Inc. (NYSE:RSG)

Steward Partners Investment Advisory LLC boosted its stake in shares of Republic Services, Inc. (NYSE:RSG) by 8.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,497 shares of the business services provider’s stock after acquiring an additional 1,022 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Republic Services were worth $2,715,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of RSG. FSA Wealth Management LLC acquired a new position in shares of Republic Services in the 3rd quarter valued at approximately $25,000. Arcadia Investment Management Corp MI boosted its holdings in shares of Republic Services by 200.0% in the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 88 shares in the last quarter. R Squared Ltd bought a new stake in shares of Republic Services during the 4th quarter worth $32,000. Truvestments Capital LLC acquired a new position in Republic Services during the third quarter worth about $34,000. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Republic Services during the 3rd quarter valued at approximately $39,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RSG. Truist Financial reiterated a “buy” rating and issued a $250.00 price target (up from $244.00) on shares of Republic Services in a research note on Friday, February 14th. BMO Capital Markets raised Republic Services from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $211.00 to $238.00 in a research note on Friday, December 6th. Deutsche Bank Aktiengesellschaft upgraded shares of Republic Services from a “hold” rating to a “buy” rating and lifted their target price for the stock from $219.00 to $237.00 in a research report on Tuesday, December 10th. Morgan Stanley upped their price target on shares of Republic Services from $220.00 to $230.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Finally, Royal Bank of Canada upgraded shares of Republic Services from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $219.00 to $237.00 in a report on Monday, January 6th. Five research 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 company. According to MarketBeat.com, Republic Services presently has an average rating of “Moderate Buy” and a consensus price target of $236.88.

Republic Services Stock Up 1.2 %

Shares of NYSE:RSG opened at $234.28 on Friday. The business’s 50-day moving average is $218.91 and its 200-day moving average is $210.80. Republic Services, Inc. has a 1 year low of $180.91 and a 1 year high of $240.95. The company has a market capitalization of $73.16 billion, a price-to-earnings ratio of 36.10, a P/E/G ratio of 3.64 and a beta of 0.73. 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 (NYSE:RSG) last issued its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.21. The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. During the same period in the previous year, the firm earned $1.41 earnings per share. Equities research analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Announces Dividend

The business 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 $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s payout ratio is 35.75%.

Insider Buying and Selling at Republic Services

In other news, COO Gregg Brummer sold 6,293 shares of the firm’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 directly owns 10,416 shares in the company, valued at $2,376,931.20. This trade represents a 37.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.09% of the company’s stock.

About Republic Services

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.