Strategic Financial Concepts LLC Invests $97,000 in Republic Services, Inc. (NYSE:RSG)

Strategic Financial Concepts LLC purchased a new position in shares of Republic Services, Inc. (NYSE:RSG) in the 2nd quarter, Holdings Channel reports. The fund purchased 49,659 shares of the business services provider’s stock, valued at approximately $97,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. YHB Investment Advisors Inc. bought a new position in Republic Services in the 1st quarter valued at about $29,000. EntryPoint Capital LLC bought a new position in Republic Services in the 1st quarter valued at about $29,000. Jones Financial Companies Lllp grew its position in Republic Services by 3,014.3% in the 4th quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider’s stock valued at $36,000 after buying an additional 211 shares in the last quarter. Indiana Trust & Investment Management CO bought a new position in Republic Services in the 2nd quarter valued at about $45,000. Finally, Frazier Financial Advisors LLC bought a new position in Republic Services in the 4th quarter valued at about $50,000. Institutional investors own 57.73% of the company’s stock.

Republic Services Price Performance

RSG stock opened at $206.31 on Wednesday. The firm has a 50-day moving average of $201.16 and a two-hundred day moving average of $192.81. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $64.80 billion, a PE ratio of 36.19, a P/E/G ratio of 3.26 and a beta of 0.70. Republic Services, Inc. has a one year low of $140.23 and a one year high of $208.69.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.61 EPS for the quarter, topping the consensus estimate of $1.53 by $0.08. The business had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $4.03 billion. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. On average, analysts forecast that Republic Services, Inc. will post 6.18 earnings per share for the current year.

Republic Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd will be issued a dividend of $0.58 per share. This is a boost from Republic Services’s previous quarterly dividend of $0.54. This represents a $2.32 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Wednesday, October 2nd. Republic Services’s dividend payout ratio (DPR) is currently 37.54%.

Analyst Upgrades and Downgrades

RSG has been the subject of a number of recent analyst reports. CIBC increased their target price on shares of Republic Services from $196.00 to $208.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Robert W. Baird raised their price objective on shares of Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Truist Financial upgraded shares of Republic Services from a “hold” rating to a “buy” rating and raised their price objective for the company from $192.00 to $220.00 in a research report on Thursday, July 11th. TD Cowen raised their price objective on shares of Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Finally, Oppenheimer reduced their price objective on shares of Republic Services from $211.00 to $210.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $211.00.

Insider Buying and Selling

In related news, Director Tomago Collins sold 3,200 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $203.01, for a total transaction of $649,632.00. Following the completion of the sale, the director now directly owns 17,486 shares in the company, valued at $3,549,832.86. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.09% of the stock is currently owned by corporate 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.