Financial Perspectives Inc Has $73,000 Position in Republic Services, Inc. (NYSE:RSG)

Financial Perspectives Inc boosted its stake in Republic Services, Inc. (NYSE:RSG) by 2,029.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 362 shares of the business services provider’s stock after buying an additional 345 shares during the quarter. Financial Perspectives Inc’s holdings in Republic Services were worth $73,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of RSG. Wellington Management Group LLP boosted its position in Republic Services by 23.2% during the third quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider’s stock valued at $1,205,883,000 after purchasing an additional 1,131,850 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Republic Services by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,507,521 shares of the business services provider’s stock valued at $903,316,000 after buying an additional 73,207 shares in the last quarter. Nordea Investment Management AB increased its holdings in Republic Services by 19.4% in the fourth quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock worth $626,553,000 after buying an additional 509,116 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Republic Services by 1.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,546,088 shares of the business services provider’s stock valued at $509,462,000 after acquiring an additional 25,350 shares in the last quarter. Finally, Stifel Financial Corp grew its position in Republic Services by 437.9% in the third quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock worth $364,449,000 after acquiring an additional 1,477,255 shares in the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Republic Services news, Director Katharine Weymouth sold 1,859 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total transaction of $400,186.93. Following the completion of the transaction, the director now directly owns 879 shares in the company, valued at $189,222.33. This represents a 67.90 % 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. 0.09% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

RSG has been the subject of several analyst reports. Morgan Stanley lifted their price objective on shares of Republic Services from $220.00 to $230.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. The Goldman Sachs Group upped their price target on Republic Services from $239.00 to $265.00 and gave the stock a “buy” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and boosted their target price for the stock from $219.00 to $237.00 in a report on Tuesday, December 10th. Royal Bank of Canada upgraded Republic Services from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $219.00 to $237.00 in a report on Monday, January 6th. Finally, CIBC boosted their price objective on shares of Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Republic Services presently has an average rating of “Moderate Buy” and an average target price of $231.75.

Republic Services Price Performance

Shares of NYSE:RSG opened at $229.59 on Thursday. The business’s 50 day moving average is $212.03 and its 200-day moving average is $208.11. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $71.90 billion, a PE ratio of 35.38, a PEG ratio of 3.33 and a beta of 0.74. Republic Services, Inc. has a 1-year low of $179.62 and a 1-year high of $232.52.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.21. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The company had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the prior year, the company posted $1.41 EPS. Sell-side analysts predict that Republic Services, Inc. will post 6.89 earnings per share for the current year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be paid a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.01%. Republic Services’s dividend payout ratio is currently 35.75%.

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.