Tower Wealth Partners Inc. Buys Shares of 1,269 Republic Services, Inc. (NYSE:RSG)

Tower Wealth Partners Inc. acquired a new stake in shares of Republic Services, Inc. (NYSE:RSGFree Report) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 1,269 shares of the business services provider’s stock, valued at approximately $209,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stokes Family Office LLC grew its position in Republic Services by 2.2% during the third quarter. Stokes Family Office LLC now owns 3,209 shares of the business services provider’s stock worth $457,000 after buying an additional 70 shares in the last quarter. WASHINGTON TRUST Co grew its position in Republic Services by 4.5% during the fourth quarter. WASHINGTON TRUST Co now owns 1,620 shares of the business services provider’s stock worth $267,000 after buying an additional 70 shares in the last quarter. FinTrust Capital Advisors LLC boosted its holdings in shares of Republic Services by 56.3% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 197 shares of the business services provider’s stock worth $28,000 after purchasing an additional 71 shares in the last quarter. Greenleaf Trust boosted its holdings in shares of Republic Services by 1.6% in the 3rd quarter. Greenleaf Trust now owns 4,504 shares of the business services provider’s stock worth $642,000 after purchasing an additional 72 shares in the last quarter. Finally, Sound View Wealth Advisors Group LLC boosted its holdings in shares of Republic Services by 4.0% in the 3rd quarter. Sound View Wealth Advisors Group LLC now owns 1,968 shares of the business services provider’s stock worth $280,000 after purchasing an additional 75 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors.

Insider Activity at Republic Services

In related news, CEO Ark Jon Vander sold 5,446 shares of Republic Services stock in a transaction on Monday, March 4th. The stock was sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the transaction, the chief executive officer now directly owns 85,113 shares in the company, valued at $15,669,303.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

RSG has been the subject of a number of research reports. The Goldman Sachs Group upped their price objective on Republic Services from $182.00 to $209.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. UBS Group lowered Republic Services from a “buy” rating to a “neutral” rating and boosted their target price for the company from $175.00 to $195.00 in a research note on Thursday, February 29th. BMO Capital Markets boosted their target price on Republic Services from $173.00 to $195.00 and gave the company a “market perform” rating in a research note on Wednesday, February 28th. Jefferies Financial Group boosted their target price on Republic Services from $213.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Finally, Wells Fargo & Company boosted their target price on Republic Services from $180.00 to $188.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Republic Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $197.17.

Get Our Latest Stock Report on RSG

Republic Services Stock Down 0.6 %

Shares of NYSE:RSG opened at $189.83 on Tuesday. Republic Services, Inc. has a 52-week low of $133.81 and a 52-week high of $192.57. The firm has a market capitalization of $59.72 billion, a P/E ratio of 34.70, a P/E/G ratio of 3.35 and a beta of 0.68. The stock has a 50 day moving average price of $180.95 and a 200-day moving average price of $164.70. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56.

Republic Services (NYSE:RSGGet Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The business services provider reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.13. The company had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.73 billion. Republic Services had a return on equity of 17.32% and a net margin of 11.57%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.13 EPS. As a group, equities research analysts anticipate that Republic Services, Inc. will post 6 EPS for the current fiscal year.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Tuesday, April 2nd will be given a dividend of $0.535 per share. The ex-dividend date is Monday, April 1st. This represents a $2.14 annualized dividend and a yield of 1.13%. Republic Services’s dividend payout ratio (DPR) is presently 39.12%.

Republic Services Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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