B. Riley Wealth Advisors Inc. grew its stake in shares of Republic Services, Inc. (NYSE:RSG – Get Rating) by 285.2% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 30,461 shares of the business services provider’s stock after acquiring an additional 22,553 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Republic Services were worth $4,144,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of RSG. D.A. Davidson & CO. acquired a new position in shares of Republic Services during the 1st quarter worth $203,000. Synovus Financial Corp boosted its holdings in Republic Services by 1.9% in the first quarter. Synovus Financial Corp now owns 14,255 shares of the business services provider’s stock worth $1,890,000 after acquiring an additional 260 shares in the last quarter. Vontobel Holding Ltd. boosted its holdings in Republic Services by 34.6% in the first quarter. Vontobel Holding Ltd. now owns 3,885 shares of the business services provider’s stock worth $523,000 after acquiring an additional 998 shares in the last quarter. Blair William & Co. IL lifted its holdings in shares of Republic Services by 1.6% in the first quarter. Blair William & Co. IL now owns 31,162 shares of the business services provider’s stock valued at $4,129,000 after purchasing an additional 495 shares in the last quarter. Finally, Moors & Cabot Inc. increased its position in shares of Republic Services by 2.9% during the first quarter. Moors & Cabot Inc. now owns 6,726 shares of the business services provider’s stock valued at $891,000 after acquiring an additional 187 shares during the last quarter. 57.14% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of analysts have issued reports on RSG shares. Royal Bank of Canada raised their target price on Republic Services from $131.00 to $134.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 16th. Morgan Stanley decreased their price objective on Republic Services from $150.00 to $144.00 and set an “overweight” rating on the stock in a report on Wednesday, January 4th. StockNews.com initiated coverage on Republic Services in a report on Thursday. They set a “buy” rating on the stock. UBS Group cut Republic Services from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 10th. Finally, Robert W. Baird upped their price objective on Republic Services from $136.00 to $142.00 and gave the company a “neutral” rating in a research report on Thursday, February 16th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $145.33.
Republic Services Price Performance
Republic Services (NYSE:RSG – Get Rating) last posted its quarterly earnings data on Wednesday, February 15th. The business services provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.02 by $0.11. Republic Services had a net margin of 11.01% and a return on equity of 16.72%. The business had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same period in the previous year, the firm posted $1.02 earnings per share. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. As a group, analysts predict that Republic Services, Inc. will post 5.18 earnings per share for the current fiscal year.
Republic Services Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 14th. Investors of record on Monday, April 3rd will be given a dividend of $0.495 per share. The ex-dividend date of this dividend is Friday, March 31st. This represents a $1.98 dividend on an annualized basis and a yield of 1.48%. Republic Services’s dividend payout ratio is presently 42.22%.
Insider Activity at Republic Services
In other news, Director Jennifer M. Kirk acquired 1,000 shares of the business’s stock in a transaction on Tuesday, February 21st. The stock was bought at an average price of $129.60 per share, with a total value of $129,600.00. Following the completion of the acquisition, the director now owns 4,449 shares of the company’s stock, valued at $576,590.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is currently owned by insiders.
Republic Services Company Profile
Republic Services, Inc engages in the provision of services in the domestic non-hazardous solid waste industry. It provides integrated waste management services, which offers non-hazardous solid waste collection, transfer, recycling, disposal and energy services. The firm operates through the following segments: Group 1, Group 2, and Corporate Entities & Other.
- Get a free copy of the StockNews.com research report on Republic Services (RSG)
- Don’t Miss Out: $2 Trillion Could be Headed to the Banking Sector
- A Weakening Economy Suggests Caution Before Buying Five Below
- Williams-Sonoma: Time To Buy At Rock-Bottom Prices
- Why DraftKings Could Keep Outperforming in 2023
- Charles Schwab And The Safest 30% You Can Make This Year
Want to see what other hedge funds are holding RSG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Republic Services, Inc. (NYSE:RSG – Get Rating).
Receive News & Ratings for Republic Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Republic Services and related companies with MarketBeat.com's FREE daily email newsletter.