Thoroughbred Financial Services LLC Acquires New Position in Republic Services, Inc. (NYSE:RSG)

Thoroughbred Financial Services LLC bought a new position in shares of Republic Services, Inc. (NYSE:RSG) during the second quarter, HoldingsChannel reports. The firm bought 1,428 shares of the business services provider’s stock, valued at approximately $277,000.

Several other hedge funds also recently made changes to their positions in the company. YHB Investment Advisors Inc. acquired a new position in shares of Republic Services in the 1st quarter valued at about $29,000. EntryPoint Capital LLC acquired a new position in Republic Services in the first quarter valued at approximately $29,000. Jones Financial Companies Lllp grew its holdings in shares of Republic Services by 3,014.3% during the fourth quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 211 shares during the last quarter. Indiana Trust & Investment Management CO acquired a new stake in shares of Republic Services during the 2nd quarter worth approximately $45,000. Finally, Frazier Financial Advisors LLC bought a new stake in shares of Republic Services in the 4th quarter worth approximately $50,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Analysts Set New Price Targets

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

Republic Services Stock Down 1.8 %

NYSE RSG opened at $201.75 on Wednesday. The company has a market capitalization of $63.36 billion, a P/E ratio of 35.39, a PEG ratio of 3.29 and a beta of 0.70. Republic Services, Inc. has a 12 month low of $140.23 and a 12 month high of $208.69. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.59 and a quick ratio of 0.59. The company’s 50 day simple moving average is $202.17 and its 200 day simple moving average is $193.52.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.08. The company had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.03 billion. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. Equities research analysts expect that Republic Services, Inc. will post 6.18 earnings per share for the current fiscal 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 paid a $0.58 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 1.15%. This is a boost from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s dividend payout ratio (DPR) is currently 37.54%.

Insider Buying and Selling at Republic Services

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 value of $649,632.00. Following the completion of the transaction, the director now owns 17,486 shares of the company’s stock, valued at approximately $3,549,832.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.09% of the company’s stock.

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.