RWA Wealth Partners LLC Takes Position in Republic Services, Inc. (NYSE:RSG)

RWA Wealth Partners LLC purchased a new stake in Republic Services, Inc. (NYSE:RSG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,164 shares of the business services provider’s stock, valued at approximately $357,000.

A number of other large investors also recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its stake in shares of Republic Services by 0.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,658,978 shares of the business services provider’s stock valued at $948,971,000 after purchasing an additional 44,512 shares during the period. Morgan Stanley increased its position in shares of Republic Services by 4.1% in the 3rd quarter. Morgan Stanley now owns 5,054,359 shares of the business services provider’s stock valued at $720,297,000 after buying an additional 197,654 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Republic Services by 2.9% in the 3rd quarter. Nordea Investment Management AB now owns 3,790,052 shares of the business services provider’s stock valued at $547,473,000 after buying an additional 107,499 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Republic Services by 0.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,727,719 shares of the business services provider’s stock valued at $531,237,000 after buying an additional 13,166 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Republic Services by 4.8% in the 3rd quarter. Northern Trust Corp now owns 2,376,009 shares of the business services provider’s stock valued at $338,605,000 after buying an additional 109,437 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Trading Up 0.8 %

Republic Services stock opened at $193.52 on Friday. Republic Services, Inc. has a 52 week low of $135.33 and a 52 week high of $193.82. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market capitalization of $60.95 billion, a P/E ratio of 35.38, a PEG ratio of 3.36 and a beta of 0.68. The stock has a 50-day simple moving average of $187.13 and a 200 day simple moving average of $170.17.

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

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders 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 dividend yield of 1.11%. The ex-dividend date was Monday, April 1st. Republic Services’s dividend payout ratio is presently 39.12%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Royal Bank of Canada assumed coverage on Republic Services in a report on Monday, April 8th. They set a “sector perform” rating and a $198.00 target price for the company. Truist Financial lifted their price target on Republic Services from $175.00 to $192.00 and gave the company a “hold” rating in a research note on Wednesday, February 28th. Scotiabank assumed coverage on Republic Services in a research note on Monday, April 8th. They issued a “sector perform” rating and a $211.00 price target on the stock. BMO Capital Markets lifted their price target 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. Finally, The Goldman Sachs Group lifted their price target on Republic Services from $209.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Republic Services currently has an average rating of “Moderate Buy” and a consensus target price of $199.77.

Insider Transactions at Republic Services

In other news, CEO Ark Jon Vander sold 5,446 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 85,113 shares in the company, valued at $15,669,303.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Republic Services 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.