SlateStone Wealth LLC Increases Position in Republic Services, Inc. (NYSE:RSG)

SlateStone Wealth LLC increased its stake in shares of Republic Services, Inc. (NYSE:RSG) by 30.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,325 shares of the business services provider’s stock after acquiring an additional 1,000 shares during the quarter. SlateStone Wealth LLC’s holdings in Republic Services were worth $713,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RSG. Magellan Asset Management Ltd boosted its position in shares of Republic Services by 1,497,159.0% during the third quarter. Magellan Asset Management Ltd now owns 913,328 shares of the business services provider’s stock worth $130,158,000 after acquiring an additional 913,267 shares during the last quarter. FMR LLC boosted its position in shares of Republic Services by 34.4% during the third quarter. FMR LLC now owns 2,202,405 shares of the business services provider’s stock worth $313,865,000 after acquiring an additional 563,761 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new position in Republic Services during the fourth quarter valued at $77,417,000. Envestnet Asset Management Inc. lifted its position in Republic Services by 50.9% during the third quarter. Envestnet Asset Management Inc. now owns 900,653 shares of the business services provider’s stock valued at $128,352,000 after purchasing an additional 303,754 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted its position in Republic Services by 1,383.0% during the third quarter. Panagora Asset Management Inc. now owns 241,098 shares of the business services provider’s stock valued at $34,359,000 after purchasing an additional 224,841 shares during the last quarter. Institutional investors own 57.73% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on RSG shares. Oppenheimer increased their price objective on shares of Republic Services from $182.00 to $195.00 and gave the company an “outperform” rating in a research report on Wednesday, February 28th. The Goldman Sachs Group increased their target price on shares of Republic Services from $209.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Truist Financial increased their target price on shares of Republic Services from $175.00 to $192.00 and gave the company a “hold” rating in a research note on Wednesday, February 28th. Scotiabank started coverage on shares of Republic Services in a research note on Monday, April 8th. They issued a “sector perform” rating and a $211.00 target price on the stock. Finally, Morgan Stanley downgraded shares of Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 target price on the stock. in a research note on Friday, March 15th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $199.77.

Republic Services Stock Down 0.2 %

Shares of NYSE:RSG traded down $0.38 during trading on Tuesday, reaching $191.38. The stock had a trading volume of 598,451 shares, compared to its average volume of 1,193,875. Republic Services, Inc. has a one year low of $135.33 and a one year high of $192.99. The company has a market capitalization of $60.28 billion, a P/E ratio of 35.06, a PEG ratio of 3.32 and a beta of 0.68. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. The firm’s 50-day simple moving average is $186.29 and its 200 day simple moving average is $169.53.

Republic Services (NYSE:RSG) last released its earnings results on Tuesday, February 27th. The business services provider reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.13. Republic Services had a net margin of 11.57% and a return on equity of 17.32%. The company had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.73 billion. During the same period last year, the business earned $1.13 EPS. Republic Services’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, research analysts expect that Republic Services, Inc. will post 6.01 EPS for the current fiscal year.

Republic Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Tuesday, April 2nd were paid a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend was Monday, April 1st. Republic Services’s payout ratio is 39.12%.

Insider Buying and Selling at Republic Services

In other news, CEO Ark Jon Vander sold 5,446 shares of Republic Services stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the completion of the transaction, the chief executive officer now directly owns 85,113 shares of the company’s stock, valued at approximately $15,669,303.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.09% of the company’s stock.

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.