J.Safra Asset Management Corp Boosts Stock Position in Republic Services, Inc. (NYSE:RSG)

J.Safra Asset Management Corp lifted its holdings in Republic Services, Inc. (NYSE:RSG) by 25.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,233 shares of the business services provider’s stock after purchasing an additional 254 shares during the quarter. J.Safra Asset Management Corp’s holdings in Republic Services were worth $248,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. FSA Wealth Management LLC bought a new position in shares of Republic Services during the 3rd quarter valued at approximately $25,000. Arcadia Investment Management Corp MI increased its position in Republic Services by 200.0% during the fourth quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 88 shares during the last quarter. R Squared Ltd bought a new position in Republic Services during the fourth quarter valued at $32,000. Truvestments Capital LLC bought a new position in Republic Services during the third quarter valued at $34,000. Finally, Ashton Thomas Securities LLC bought a new position in Republic Services during the 3rd quarter valued at about $39,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RSG has been the topic of a number of analyst reports. Argus set a $260.00 target price on Republic Services in a research note on Tuesday, February 18th. Truist Financial reiterated a “buy” rating and set a $250.00 price objective (up from $244.00) on shares of Republic Services in a research note on Friday, February 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Republic Services from a “hold” rating to a “buy” rating and raised their price target for the company from $219.00 to $237.00 in a report on Tuesday, December 10th. Morgan Stanley increased their price target on Republic Services from $220.00 to $230.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Finally, The Goldman Sachs Group lifted their price objective on shares of Republic Services from $239.00 to $265.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $236.88.

Insider Transactions at Republic Services

In related news, Director Katharine Weymouth sold 1,859 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $215.27, for a total transaction of $400,186.93. Following the completion of the sale, the director now directly owns 879 shares of the company’s stock, valued at approximately $189,222.33. This represents a 67.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Gregg Brummer sold 6,293 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total value of $1,436,062.60. Following the completion of the sale, the chief operating officer now owns 10,416 shares of the company’s stock, valued at approximately $2,376,931.20. This trade represents a 37.66 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Republic Services Stock Down 1.7 %

Shares of NYSE RSG opened at $235.55 on Wednesday. The firm’s 50-day moving average is $217.11 and its two-hundred day moving average is $210.28. The company has a market capitalization of $73.56 billion, a PE ratio of 36.29, a price-to-earnings-growth ratio of 3.64 and a beta of 0.74. Republic Services, Inc. has a 12-month low of $180.91 and a 12-month high of $240.95. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64.

Republic Services (NYSE:RSG) last released its earnings results 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 for the quarter, compared to analyst estimates of $4.08 billion. During the same period in the prior year, the firm earned $1.41 EPS. Equities analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Announces Dividend

The company 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. This represents a $2.32 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services’s dividend payout ratio is currently 35.75%.

About Republic Services

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.