Ayrshire Capital Management LLC Acquires 1,902 Shares of Republic Services, Inc. (NYSE:RSG)

Ayrshire Capital Management LLC lifted its holdings in Republic Services, Inc. (NYSE:RSG) by 7.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,541 shares of the business services provider’s stock after acquiring an additional 1,902 shares during the period. Republic Services accounts for about 2.6% of Ayrshire Capital Management LLC’s portfolio, making the stock its 22nd biggest holding. Ayrshire Capital Management LLC’s holdings in Republic Services were worth $5,531,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in RSG. TD Asset Management Inc boosted its stake in shares of Republic Services by 424.7% in the first quarter. TD Asset Management Inc now owns 1,722,107 shares of the business services provider’s stock worth $329,680,000 after acquiring an additional 1,393,918 shares during the period. Capital World Investors boosted its stake in 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 valued at $1,514,100,000 after buying an additional 1,346,588 shares during the last quarter. M&G Plc bought a new position in Republic Services during the first quarter valued at approximately $130,892,000. Earnest Partners LLC boosted its stake in Republic Services by 16.9% during the first quarter. Earnest Partners LLC now owns 1,262,519 shares of the business services provider’s stock valued at $241,697,000 after buying an additional 182,645 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in Republic Services by 235.4% during the first quarter. SG Americas Securities LLC now owns 255,007 shares of the business services provider’s stock valued at $48,819,000 after buying an additional 178,969 shares during the last quarter. Institutional investors own 57.73% of the company’s stock.

Republic Services Trading Up 0.7 %

RSG opened at $204.44 on Friday. The stock’s fifty day moving average is $203.28 and its two-hundred day moving average is $195.37. The company has a market capitalization of $64.38 billion, a P/E ratio of 35.87, a PEG ratio of 3.29 and a beta of 0.69. Republic Services, Inc. has a 52 week low of $142.65 and a 52 week high of $208.69. 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 (NYSE:RSG) last released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.61 EPS for the quarter, topping the consensus estimate of $1.53 by $0.08. The company 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%. Analysts forecast that Republic Services, Inc. will post 6.18 earnings per share for the current year.

Republic Services Increases Dividend

The business also recently announced 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. This represents a $2.32 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Wednesday, October 2nd. This is a boost from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s dividend payout ratio (DPR) is 40.70%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Truist Financial raised Republic Services from a “hold” rating to a “buy” rating and increased their price target for the company from $192.00 to $220.00 in a research note on Thursday, July 11th. TD Cowen upped their price objective on Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a research report on Monday, August 5th. CIBC upped their price objective on Republic Services from $196.00 to $208.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Royal Bank of Canada upped their price objective on Republic Services from $201.00 to $211.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Finally, Robert W. Baird upped their price objective on Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.65.

Insider Buying and Selling at Republic Services

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 sale, the director now owns 17,486 shares of the company’s stock, valued at approximately $3,549,832.86. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.