Spire Wealth Management lifted its position in shares of Republic Services, Inc. (NYSE:RSG – Free Report) by 110.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,547 shares of the business services provider’s stock after acquiring an additional 1,860 shares during the period. Spire Wealth Management’s holdings in Republic Services were worth $480,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in RSG. Maryland State Retirement & Pension System boosted its holdings in shares of Republic Services by 1.7% during the 1st quarter. Maryland State Retirement & Pension System now owns 16,313 shares of the business services provider’s stock valued at $2,206,000 after acquiring an additional 273 shares during the last quarter. First Interstate Bank purchased a new stake in Republic Services during the 1st quarter valued at $243,000. Cumberland Partners Ltd purchased a new position in shares of Republic Services in the 4th quarter worth $813,000. Brown Advisory Inc. increased its position in Republic Services by 2.5% during the first quarter. Brown Advisory Inc. now owns 11,909 shares of the business services provider’s stock valued at $1,610,000 after acquiring an additional 292 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in Republic Services by 6.0% in the first quarter. US Bancorp DE now owns 186,766 shares of the business services provider’s stock valued at $25,254,000 after acquiring an additional 10,629 shares during the period. 64.36% of the stock is currently owned by hedge funds and other institutional investors.
Republic Services Price Performance
Shares of Republic Services stock opened at $146.28 on Friday. The firm has a market cap of $46.27 billion, a PE ratio of 29.43, a PEG ratio of 2.83 and a beta of 0.66. Republic Services, Inc. has a 12 month low of $120.58 and a 12 month high of $156.65. The stock has a 50 day moving average of $149.17 and a 200 day moving average of $140.35. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.17.
Republic Services Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Monday, October 2nd will be issued a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 1.46%. This is an increase from Republic Services’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, September 29th. Republic Services’s dividend payout ratio is presently 39.84%.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on RSG shares. BMO Capital Markets upped their price target on shares of Republic Services from $158.00 to $160.00 and gave the company a “market perform” rating in a research report on Tuesday, August 1st. Citigroup increased their price target on shares of Republic Services from $177.00 to $178.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Oppenheimer upped their price objective on Republic Services from $158.00 to $159.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 1st. VNET Group reiterated a “maintains” rating on shares of Republic Services in a research report on Thursday, April 27th. Finally, Royal Bank of Canada upped their price target on Republic Services from $156.00 to $163.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 1st. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Republic Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $159.00.
Check Out Our Latest Research Report on Republic Services
Insider Buying and Selling
In other Republic Services news, CMO Amanda Hodges sold 2,712 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $148.66, for a total value of $403,165.92. Following the sale, the chief marketing officer now owns 4,969 shares in the company, valued at $738,691.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CMO Amanda Hodges sold 2,712 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $148.66, for a total value of $403,165.92. Following the transaction, the chief marketing officer now owns 4,969 shares of the company’s stock, valued at approximately $738,691.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Brian M. Delghiaccio sold 5,500 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $149.65, for a total transaction of $823,075.00. Following the completion of the sale, the chief financial officer now directly owns 5,071 shares of the company’s stock, valued at $758,875.15. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.
Republic Services Profile
Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States. 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.
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