Republic Services, Inc. (NYSE:RSG) Stake Increased by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC grew its stake in shares of Republic Services, Inc. (NYSE:RSG) by 57.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,226 shares of the business services provider’s stock after acquiring an additional 3,007 shares during the period. Kestra Private Wealth Services LLC’s holdings in Republic Services were worth $1,357,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. FinTrust Capital Advisors LLC lifted its stake in Republic Services by 56.3% during the third 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 during the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in shares of Republic Services in the 4th quarter worth about $34,000. BKM Wealth Management LLC acquired a new position in shares of Republic Services in the 4th quarter valued at about $37,000. Bruce G. Allen Investments LLC bought a new stake in shares of Republic Services during the 4th quarter valued at about $41,000. Finally, Millburn Ridgefield Corp acquired a new stake in Republic Services during the third quarter worth about $36,000. Institutional investors own 57.73% of the company’s stock.

Insider Transactions at Republic Services

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

Republic Services Trading Down 0.5 %

Shares of Republic Services stock opened at $185.51 on Friday. The business has a fifty day simple moving average of $188.01 and a 200-day simple moving average of $171.68. The firm has a market cap of $58.42 billion, a price-to-earnings ratio of 32.55, a price-to-earnings-growth ratio of 3.25 and a beta of 0.67. Republic Services, Inc. has a fifty-two week low of $140.07 and a fifty-two week high of $196.76. The company has a quick ratio of 0.56, a current ratio of 0.53 and a debt-to-equity ratio of 1.05.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Tuesday, April 30th. The business services provider reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.10. Republic Services had a net margin of 11.81% and a return on equity of 17.56%. The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the prior year, the company earned $1.24 EPS. Republic Services’s revenue was up 7.8% on a year-over-year basis. On average, equities analysts forecast that Republic Services, Inc. will post 6.02 EPS for the current fiscal year.

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, July 2nd will be issued a $0.535 dividend. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a $2.14 annualized dividend and a dividend yield of 1.15%. Republic Services’s dividend payout ratio is currently 37.54%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. The Goldman Sachs Group upped their target price on Republic Services from $209.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. BMO Capital Markets raised 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. Oppenheimer increased their price objective on shares of Republic Services from $202.00 to $204.00 and gave the stock an “outperform” rating in a report on Wednesday. Scotiabank boosted their target price on shares of Republic Services from $211.00 to $213.00 and gave the company a “sector perform” rating in a research note on Wednesday. Finally, Truist Financial raised their price target on shares of Republic Services from $175.00 to $192.00 and gave the company a “hold” rating in a research note on Wednesday, February 28th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $201.00.

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.