OLD National Bancorp IN Has $989,000 Stake in Republic Services, Inc. (NYSE:RSG)

OLD National Bancorp IN boosted its position in shares of Republic Services, Inc. (NYSE:RSG) by 7.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,998 shares of the business services provider’s stock after buying an additional 431 shares during the period. OLD National Bancorp IN’s holdings in Republic Services were worth $989,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of RSG. Capital Investment Advisors LLC boosted its stake in shares of Republic Services by 65.1% in the 3rd quarter. Capital Investment Advisors LLC now owns 2,679 shares of the business services provider’s stock valued at $382,000 after purchasing an additional 1,056 shares in the last quarter. Avior Wealth Management LLC boosted its stake in shares of Republic Services by 54.4% in the 3rd quarter. Avior Wealth Management LLC now owns 7,833 shares of the business services provider’s stock valued at $1,116,000 after purchasing an additional 2,759 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Republic Services by 232.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 17,038 shares of the business services provider’s stock valued at $2,428,000 after purchasing an additional 11,915 shares in the last quarter. Cornerstone Wealth Group LLC acquired a new stake in shares of Republic Services in the 3rd quarter valued at approximately $2,472,000. Finally, Capital Asset Advisory Services LLC boosted its stake in shares of Republic Services by 24.6% in the 3rd quarter. Capital Asset Advisory Services LLC now owns 2,723 shares of the business services provider’s stock valued at $399,000 after purchasing an additional 538 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Ark Jon Vander sold 5,446 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $184.10, for a total value of $1,002,608.60. Following the transaction, the chief executive officer now directly owns 85,113 shares of the company’s stock, valued at approximately $15,669,303.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RSG. Royal Bank of Canada began coverage on shares of Republic Services in a research note on Monday, April 8th. They issued a “sector perform” rating and a $198.00 price target on the stock. Truist Financial raised their price objective on shares of Republic Services from $175.00 to $192.00 and gave the company a “hold” rating in a report on Wednesday, February 28th. Jefferies Financial Group raised their price objective on shares of Republic Services from $213.00 to $225.00 and gave the company a “buy” rating in a report on Monday, March 18th. Morgan Stanley lowered shares of Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 price objective for the company. in a report on Friday, March 15th. Finally, Scotiabank began coverage on shares of Republic Services in a report on Monday, April 8th. They issued a “sector perform” rating and a $211.00 price objective for the company. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Republic Services currently has an average rating of “Moderate Buy” and an average price target of $199.77.

Republic Services Stock Performance

NYSE RSG opened at $190.62 on Wednesday. The company has a fifty day simple moving average of $186.59 and a 200 day simple moving average of $169.85. Republic Services, Inc. has a 12-month low of $135.33 and a 12-month high of $192.99. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. The company has a market cap of $60.04 billion, a P/E ratio of 34.85, a PEG ratio of 3.35 and a beta of 0.68.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Tuesday, February 27th. The business services provider reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.13. The business had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.73 billion. Republic Services had a net margin of 11.57% and a return on equity of 17.32%. Republic Services’s revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.13 EPS. Sell-side analysts predict that Republic Services, Inc. will post 6.01 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Tuesday, April 2nd were issued a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend was Monday, April 1st. Republic Services’s dividend payout ratio is 39.12%.

Republic Services Company 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.