Commonwealth Equity Services LLC Grows Holdings in Republic Services, Inc. (NYSE:RSG)

Commonwealth Equity Services LLC grew its stake in shares of Republic Services, Inc. (NYSE:RSG) by 28.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 45,684 shares of the business services provider’s stock after buying an additional 10,072 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Republic Services were worth $9,191,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Wellington Management Group LLP lifted its stake in Republic Services by 23.2% during the third quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider’s stock worth $1,205,883,000 after purchasing an additional 1,131,850 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Republic Services by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,507,521 shares of the business services provider’s stock valued at $903,316,000 after buying an additional 73,207 shares in the last quarter. Nordea Investment Management AB lifted its position in Republic Services by 19.4% in the 4th quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock worth $626,553,000 after buying an additional 509,116 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Republic Services by 1.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,546,088 shares of the business services provider’s stock worth $509,462,000 after acquiring an additional 25,350 shares in the last quarter. Finally, Stifel Financial Corp lifted its holdings in shares of Republic Services by 437.9% in the 3rd quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock worth $364,449,000 after acquiring an additional 1,477,255 shares during the last quarter. 57.73% of the stock is owned by institutional investors.

Insider Buying and Selling at Republic Services

In related news, COO Gregg Brummer sold 6,293 shares of the company’s stock in a transaction that occurred on 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 sale, the chief operating officer now owns 10,416 shares in the company, valued at $2,376,931.20. This represents a 37.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on RSG shares. William Blair reiterated an “outperform” rating on shares of Republic Services in a research report on Friday, February 14th. Morgan Stanley boosted their target price on Republic Services from $220.00 to $230.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and raised their price target for the stock from $219.00 to $237.00 in a research report on Tuesday, December 10th. Truist Financial reissued a “buy” rating and set a $250.00 price objective (up previously from $244.00) on shares of Republic Services in a research note on Friday, February 14th. Finally, UBS Group lifted their target price on shares of Republic Services from $212.00 to $240.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $236.88.

Republic Services Stock Up 0.3 %

RSG stock opened at $234.70 on Thursday. Republic Services, Inc. has a fifty-two week low of $180.92 and a fifty-two week high of $240.95. The company has a market capitalization of $73.29 billion, a price-to-earnings ratio of 36.16, a price-to-earnings-growth ratio of 3.64 and a beta of 0.73. The business’s 50 day moving average price is $223.82 and its two-hundred day moving average price is $212.29. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.21. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the prior year, the company earned $1.41 earnings per share. As a group, analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The firm also recently disclosed 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 of this dividend is Wednesday, April 2nd. Republic Services’s dividend payout ratio (DPR) is presently 35.75%.

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.