Trueblood Wealth Management LLC Has $1.65 Million Stock Position in Republic Services, Inc. (NYSE:RSG)

Trueblood Wealth Management LLC lifted its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 3.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,483 shares of the business services provider’s stock after purchasing an additional 267 shares during the quarter. Republic Services makes up about 0.9% of Trueblood Wealth Management LLC’s holdings, making the stock its 22nd biggest position. Trueblood Wealth Management LLC’s holdings in Republic Services were worth $1,649,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in RSG. Unigestion Holding SA boosted its position in shares of Republic Services by 2,178.2% during the 4th quarter. Unigestion Holding SA now owns 127,647 shares of the business services provider’s stock valued at $21,048,000 after acquiring an additional 122,044 shares in the last quarter. Bank of Nova Scotia boosted its stake in Republic Services by 52.3% during the 4th quarter. Bank of Nova Scotia now owns 214,504 shares of the business services provider’s stock worth $35,357,000 after acquiring an additional 73,651 shares during the last quarter. TCW Group Inc. acquired a new position in shares of Republic Services in the 4th quarter valued at approximately $17,903,000. Hsbc Holdings PLC raised its position in Republic Services by 8.7% in the 4th quarter. Hsbc Holdings PLC now owns 456,726 shares of the business services provider’s stock valued at $75,297,000 after buying an additional 36,484 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in Republic Services by 10.4% during the fourth quarter. Allianz Asset Management GmbH now owns 591,209 shares of the business services provider’s stock worth $97,496,000 after acquiring an additional 55,668 shares in the last quarter. Institutional investors own 57.73% of the company’s stock.

Republic Services Price Performance

NYSE RSG opened at $204.80 on Thursday. Republic Services, Inc. has a 52-week low of $140.23 and a 52-week high of $208.69. The firm’s 50 day moving average price is $201.38 and its 200-day moving average price is $192.89. The company has a market cap of $64.32 billion, a PE ratio of 35.93, a P/E/G ratio of 3.26 and a beta of 0.70. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.59 and a current ratio of 0.59.

Republic Services (NYSE:RSG) last posted 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. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.03 billion. Sell-side analysts forecast that Republic Services, Inc. will post 6.18 EPS for the current fiscal year.

Republic Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 1.13%. The ex-dividend date is Wednesday, October 2nd. This is an increase from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s dividend payout ratio (DPR) is currently 37.54%.

Insider Activity

In other Republic Services news, Director Tomago Collins sold 3,200 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were 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. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on RSG. BMO Capital Markets lifted their price objective on shares of Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Stifel Nicolaus lifted their target price on Republic Services from $215.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. StockNews.com lowered shares of Republic Services from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Truist Financial upgraded shares of Republic Services from a “hold” rating to a “buy” rating and increased their price objective for the company from $192.00 to $220.00 in a research note on Thursday, July 11th. Finally, Royal Bank of Canada increased their price objective on Republic Services from $201.00 to $211.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $211.00.

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.