Webster Bank N. A. Makes New Investment in Republic Services, Inc. (NYSE:RSG)

Webster Bank N. A. acquired a new position in shares of Republic Services, Inc. (NYSE:RSG) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 156 shares of the business services provider’s stock, valued at approximately $31,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. McGlone Suttner Wealth Management Inc. raised its position in shares of Republic Services by 52.4% during the 3rd quarter. McGlone Suttner Wealth Management Inc. now owns 2,165 shares of the business services provider’s stock worth $435,000 after buying an additional 744 shares in the last quarter. Ayrshire Capital Management LLC lifted its position in shares of Republic Services by 7.4% during the 3rd quarter. Ayrshire Capital Management LLC now owns 27,541 shares of the business services provider’s stock valued at $5,531,000 after acquiring an additional 1,902 shares during the last quarter. Carnegie Investment Counsel boosted its stake in shares of Republic Services by 4.6% during the 3rd quarter. Carnegie Investment Counsel now owns 77,720 shares of the business services provider’s stock worth $15,607,000 after acquiring an additional 3,453 shares in the last quarter. Mechanics Bank Trust Department raised its position in shares of Republic Services by 0.7% during the third quarter. Mechanics Bank Trust Department now owns 25,012 shares of the business services provider’s stock worth $5,023,000 after purchasing an additional 170 shares during the period. Finally, Perfromance Wealth Partners LLC lifted its holdings in shares of Republic Services by 23.3% during the third quarter. Perfromance Wealth Partners LLC now owns 1,355 shares of the business services provider’s stock valued at $272,000 after purchasing an additional 256 shares during the last quarter. 57.73% of the stock is owned by institutional investors.

Republic Services Trading Up 0.7 %

Shares of RSG stock opened at $204.44 on Monday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.05. Republic Services, Inc. has a 1 year low of $142.65 and a 1 year high of $208.69. The firm’s fifty day simple moving average is $203.28 and its 200 day simple moving average is $195.40. The firm has a market capitalization of $64.21 billion, a P/E ratio of 34.24, a price-to-earnings-growth ratio of 3.26 and a beta of 0.69.

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

Republic Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 1.13%. The ex-dividend date is Wednesday, October 2nd. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s dividend payout ratio is 38.86%.

Wall Street Analyst Weigh In

Several research firms have issued reports on RSG. Scotiabank assumed coverage on Republic Services in a report on Friday, October 4th. They set a “sector perform” rating and a $224.00 price objective on the stock. Truist Financial raised shares of Republic Services from a “hold” rating to a “buy” rating and raised their price objective for the stock from $192.00 to $220.00 in a research note on Thursday, July 11th. CIBC lifted their price target on Republic Services from $196.00 to $208.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Oppenheimer reduced their price target on shares of Republic Services from $211.00 to $210.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Finally, William Blair initiated coverage on shares of Republic Services in a research report on Thursday, October 3rd. They issued an “outperform” rating for the company. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $211.65.

Insider Activity

In other Republic Services news, Director Tomago Collins sold 3,200 shares of the 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 directly owns 17,486 shares in the company, valued at $3,549,832.86. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.