Checchi Capital Advisers LLC raised its position in Republic Services, Inc. (NYSE:RSG – Free Report) by 4.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,551 shares of the business services provider’s stock after buying an additional 160 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Republic Services were worth $544,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in 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 position in Republic Services by 1.9% during the 1st quarter. Synovus Financial Corp now owns 14,255 shares of the business services provider’s stock worth $1,890,000 after buying an additional 260 shares during the period. Vontobel Holding Ltd. grew its stake in shares of 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 purchasing an additional 998 shares during the last quarter. Blair William & Co. IL lifted its stake 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 worth $4,129,000 after acquiring an additional 495 shares during the period. Finally, Moors & Cabot Inc. boosted its holdings in Republic Services by 2.9% in 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. 57.23% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts recently commented on RSG shares. Raymond James raised their target price on Republic Services from $154.00 to $167.00 and gave the stock an “outperform” rating in a research note on Friday, July 21st. BMO Capital Markets raised their price target on shares of Republic Services from $158.00 to $160.00 and gave the stock a “market perform” rating in a report on Tuesday, August 1st. Oppenheimer increased their price objective on shares of Republic Services from $159.00 to $161.00 and gave the stock an “outperform” rating in a research report on Monday, October 16th. Wolfe Research assumed coverage on Republic Services in a research report on Tuesday, October 17th. They issued a “peer perform” rating for the company. Finally, Truist Financial lifted their price target on shares of Republic Services from $146.00 to $155.00 and gave the company a “hold” rating in a research report on Wednesday, August 2nd. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Republic Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $160.36.
Republic Services Trading Up 1.2 %
Shares of RSG stock opened at $158.91 on Friday. The company’s fifty day simple moving average is $148.61 and its two-hundred day simple moving average is $147.65. The stock has a market capitalization of $50.00 billion, a price-to-earnings ratio of 30.74, a PEG ratio of 2.88 and a beta of 0.67. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.58 and a quick ratio of 0.58. Republic Services, Inc. has a 1 year low of $120.58 and a 1 year high of $160.04.
Republic Services (NYSE:RSG – Get Free Report) last issued its quarterly earnings data on Thursday, October 26th. The business services provider reported $1.54 EPS for the quarter, beating the consensus estimate of $1.41 by $0.13. The company had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.81 billion. Republic Services had a net margin of 11.17% and a return on equity of 16.81%. Republic Services’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.34 earnings per share. As a group, analysts anticipate that Republic Services, Inc. will post 5.47 earnings per share for the current year.
Republic Services Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd will be issued a $0.535 dividend. The ex-dividend date is Friday, December 29th. This represents a $2.14 annualized dividend and a dividend yield of 1.35%. Republic Services’s payout ratio is currently 41.39%.
Republic Services announced that its board has initiated a share repurchase program on Thursday, October 26th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the business services provider to purchase up to 6.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
Republic Services Company 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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