Retirement Guys Formula LLC Makes New $704,000 Investment in Republic Services, Inc. (NYSE:RSG)

by · The Cerbat Gem

Retirement Guys Formula LLC acquired a new stake in Republic Services, Inc. (NYSE:RSG – Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,507 shares of the business services provider’s stock, valued at approximately $704,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Republic Services by 0.6% during the first quarter. Vanguard Group Inc. now owns 18,254,878 shares of the business services provider’s stock valued at $3,494,714,000 after acquiring an additional 101,518 shares during the last quarter. Capital World Investors grew its holdings in Republic Services by 20.5% in the first quarter. Capital World Investors now owns 7,909,008 shares of the business services provider’s stock worth $1,514,100,000 after purchasing an additional 1,346,588 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Republic Services by 2.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,520,738 shares of the business services provider’s stock valued at $506,265,000 after purchasing an additional 57,040 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Republic Services by 5.4% during the second quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider’s stock valued at $351,480,000 after purchasing an additional 92,013 shares in the last quarter. Finally, TD Asset Management Inc lifted its position in shares of Republic Services by 2.1% during the second quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider’s stock valued at $341,602,000 after purchasing an additional 35,650 shares in the last quarter. Institutional investors own 57.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Scotiabank initiated coverage on shares of Republic Services in a research note on Friday, October 4th. They set a “sector perform” rating and a $224.00 price objective for the company. William Blair initiated coverage on shares of Republic Services in a report on Thursday, October 3rd. They issued an “outperform” rating for the company. Royal Bank of Canada increased their price objective on shares of Republic Services from $201.00 to $211.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. BMO Capital Markets upped their target price on shares of Republic Services from $209.00 to $211.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Finally, StockNews.com cut shares of Republic Services from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Republic Services has an average rating of “Moderate Buy” and an average price target of $212.18.

Read Our Latest Stock Report on RSG

Insider Activity at Republic Services

In other news, Director Tomago Collins sold 3,200 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $203.01, for a total transaction of $649,632.00. Following the sale, the director now directly owns 17,486 shares in the company, valued at approximately $3,549,832.86. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is currently owned by company insiders.

Republic Services Price Performance

Shares of Republic Services stock traded down $0.84 during trading on Monday, reaching $203.96. The company’s stock had a trading volume of 231,311 shares, compared to its average volume of 1,137,645. The business has a 50 day moving average price of $203.92 and a 200-day moving average price of $195.94. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $64.23 billion, a P/E ratio of 35.62, a price-to-earnings-growth ratio of 3.30 and a beta of 0.69. Republic Services, Inc. has a 12-month low of $142.65 and a 12-month high of $208.69.

Republic Services (NYSE:RSG – Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.08. The business had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.03 billion. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. As a group, sell-side analysts anticipate that Republic Services, Inc. will post 6.18 EPS for the current year.

Republic Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd were paid a $0.58 dividend. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.14%. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s dividend payout ratio (DPR) is 40.70%.

About Republic Services

(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.

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