Seaview Investment Managers LLC Makes New Investment in Republic Services, Inc. (NYSE:RSG)

Seaview Investment Managers LLC acquired a new position in shares of Republic Services, Inc. (NYSE:RSG) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 48,915 shares of the business services provider’s stock, valued at approximately $9,506,000. Republic Services comprises approximately 2.9% of Seaview Investment Managers LLC’s holdings, making the stock its 18th largest position.

Several other institutional investors have also recently bought and sold shares of RSG. YHB Investment Advisors Inc. acquired a new position in Republic Services during the first quarter worth $29,000. EntryPoint Capital LLC acquired a new position in Republic Services during the first quarter worth $29,000. Jones Financial Companies Lllp raised its holdings in Republic Services by 3,014.3% during the fourth quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider’s stock worth $36,000 after buying an additional 211 shares during the last quarter. Indiana Trust & Investment Management CO bought a new stake in shares of Republic Services in the 2nd quarter worth $45,000. Finally, Frazier Financial Advisors LLC bought a new stake in shares of Republic Services in the 4th quarter worth $50,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Price Performance

NYSE RSG opened at $205.30 on Tuesday. The firm’s 50-day simple moving average is $200.90 and its two-hundred day simple moving average is $192.66. The company has a market cap of $64.48 billion, a PE ratio of 36.02, a price-to-earnings-growth ratio of 3.26 and a beta of 0.70. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.05. Republic Services, Inc. has a 52 week low of $140.23 and a 52 week high of $208.69.

Republic Services (NYSE:RSG) last announced its earnings results on Wednesday, July 24th. The business services provider reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 12.11% and a return on equity of 17.81%. Research analysts predict that Republic Services, Inc. will post 6.18 earnings per share for the current year.

Republic Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $2.32 annualized dividend and a yield of 1.13%. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s dividend payout ratio (DPR) is currently 37.54%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Truist Financial upgraded shares of Republic Services from a “hold” rating to a “buy” rating and upped their target price for the stock from $192.00 to $220.00 in a research note on Thursday, July 11th. BMO Capital Markets upped their target price on shares of Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Raymond James reduced their target price on shares of Republic Services from $219.00 to $214.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. CIBC upped their target price on shares of Republic Services from $196.00 to $208.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Finally, TD Cowen increased their price target on shares of Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Republic Services has a consensus rating of “Hold” and a consensus price target of $211.00.

Insider Buying and Selling at Republic Services

In other Republic Services news, Director Tomago Collins sold 3,200 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 17,486 shares of the company’s stock, valued at $3,549,832.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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.