EA Series Trust bought a new stake in Republic Services, Inc. (NYSE:RSG – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,728 shares of the business services provider’s stock, valued at approximately $265,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bangor Savings Bank boosted its holdings in Republic Services by 210.5% in the 2nd quarter. Bangor Savings Bank now owns 177 shares of the business services provider’s stock worth $27,000 after acquiring an additional 120 shares during the period. Horizons Wealth Management acquired a new stake in Republic Services during the 2nd quarter valued at $31,000. Strategic Investment Solutions Inc. IL purchased a new stake in Republic Services during the 1st quarter worth $34,000. TCI Wealth Advisors Inc. lifted its holdings in Republic Services by 242.7% in the 1st quarter. TCI Wealth Advisors Inc. now owns 281 shares of the business services provider’s stock worth $38,000 after buying an additional 199 shares in the last quarter. Finally, Colonial Trust Co SC boosted its position in Republic Services by 147.4% in the 1st quarter. Colonial Trust Co SC now owns 282 shares of the business services provider’s stock valued at $38,000 after buying an additional 168 shares during the last quarter. Institutional investors and hedge funds own 57.23% of the company’s stock.
Analysts Set New Price Targets
Several research analysts recently commented on the company. Oppenheimer boosted their price target on Republic Services from $159.00 to $161.00 and gave the stock an “outperform” rating in a research note on Monday, October 16th. Raymond James lifted their price target on shares of Republic Services from $154.00 to $167.00 and gave the stock an “outperform” rating in a research note on Friday, July 21st. Morgan Stanley increased their price objective on shares of Republic Services from $158.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, August 1st. Truist Financial upped their target price on shares of Republic Services from $146.00 to $155.00 and gave the company a “hold” rating in a research note on Wednesday, August 2nd. Finally, Royal Bank of Canada lifted their price target on Republic Services from $163.00 to $166.00 and gave the stock a “sector perform” rating in a research note on Monday, October 2nd. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $160.75.
Insider Activity
In related news, CMO Amanda Hodges sold 2,712 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $148.66, for a total transaction of $403,165.92. Following the sale, the chief marketing officer now owns 4,969 shares of the company’s stock, valued at $738,691.54. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Republic Services news, 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 value of $823,075.00. Following the sale, the chief financial officer now directly owns 5,071 shares in the company, valued at $758,875.15. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction 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 disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.
Republic Services Stock Performance
RSG opened at $144.42 on Tuesday. Republic Services, Inc. has a twelve month low of $120.58 and a twelve month high of $156.65. The stock has a market cap of $45.68 billion, a PE ratio of 29.06, a price-to-earnings-growth ratio of 2.82 and a beta of 0.66. The business’s 50 day moving average is $146.18 and its 200-day moving average is $145.93. 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 (NYSE:RSG – Get Free Report) last announced its quarterly earnings results on Monday, July 31st. The business services provider reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.09. The company had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.73 billion. Republic Services had a return on equity of 16.53% and a net margin of 10.91%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.32 EPS. On average, analysts predict that Republic Services, Inc. will post 5.35 earnings per share for the current year.
Republic Services Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Monday, October 2nd were paid a $0.535 dividend. This is a positive change from Republic Services’s previous quarterly dividend of $0.50. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date was Friday, September 29th. Republic Services’s dividend payout ratio is currently 43.06%.
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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