Tower Wealth Partners Inc. Has $330,000 Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Tower Wealth Partners Inc. grew its position in Republic Services, Inc. (NYSE:RSG) by 3.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,643 shares of the business services provider’s stock after buying an additional 56 shares during the period. Tower Wealth Partners Inc.’s holdings in Republic Services were worth $330,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. TD Asset Management Inc grew its position in shares of Republic Services by 424.7% in the 1st quarter. TD Asset Management Inc now owns 1,722,107 shares of the business services provider’s stock valued at $329,680,000 after purchasing an additional 1,393,918 shares during the period. Capital World Investors increased its position in shares of Republic Services by 20.5% during 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 acquiring an additional 1,346,588 shares in the last quarter. M&G Plc bought a new stake in Republic Services in the 1st quarter valued at $130,892,000. International Assets Investment Management LLC boosted its stake in Republic Services by 83,671.9% in the 3rd quarter. International Assets Investment Management LLC now owns 538,653 shares of the business services provider’s stock worth $108,183,000 after purchasing an additional 538,010 shares during the period. Finally, Earnest Partners LLC increased its holdings in Republic Services by 16.9% during the 1st quarter. Earnest Partners LLC now owns 1,262,519 shares of the business services provider’s stock worth $241,697,000 after purchasing an additional 182,645 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Stock Performance

Shares of NYSE RSG opened at $198.58 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.59 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $62.19 billion, a P/E ratio of 31.77, a P/E/G ratio of 3.04 and a beta of 0.70. Republic Services, Inc. has a 12 month low of $148.36 and a 12 month high of $208.69. The stock has a 50 day moving average of $203.43 and a 200-day moving average of $196.74.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.20. The firm had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.54 earnings per share. As a group, equities research analysts predict that Republic Services, Inc. will post 6.23 EPS for the current year.

Republic Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a $0.58 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 annualized dividend and a yield of 1.17%. Republic Services’s dividend payout ratio is currently 37.12%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RSG. CIBC upped their price objective on Republic Services from $208.00 to $217.00 and gave the stock a “neutral” rating in a research report on Wednesday. BMO Capital Markets upped their price target on Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. TD Cowen lifted their price objective on shares of Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a report on Monday, August 5th. Truist Financial increased their target price on shares of Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, William Blair started coverage on shares of Republic Services in a research report on Thursday, October 3rd. They issued an “outperform” rating for the company. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $215.71.

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.