Daiwa Securities Group Inc. Increases Stock Position in Republic Services, Inc. (NYSE:RSG)

Daiwa Securities Group Inc. raised its position in Republic Services, Inc. (NYSE:RSG) by 6.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,124 shares of the business services provider’s stock after buying an additional 1,814 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Republic Services were worth $5,658,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. CWA Asset Management Group LLC purchased a new position in Republic Services during the 3rd quarter worth $345,000. Assetmark Inc. boosted its stake in shares of Republic Services by 8.2% during the third quarter. Assetmark Inc. now owns 18,319 shares of the business services provider’s stock worth $3,679,000 after buying an additional 1,394 shares during the period. Atria Investments Inc increased its position in Republic Services by 7.8% in the 3rd quarter. Atria Investments Inc now owns 12,179 shares of the business services provider’s stock valued at $2,446,000 after acquiring an additional 881 shares during the period. Mesirow Financial Investment Management Inc. purchased a new stake in Republic Services during the 3rd quarter valued at approximately $273,000. Finally, Sigma Planning Corp lifted its position in Republic Services by 34.9% during the 3rd quarter. Sigma Planning Corp now owns 5,270 shares of the business services provider’s stock worth $1,058,000 after acquiring an additional 1,364 shares during the period. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Stock Down 0.5 %

Republic Services stock opened at $230.47 on Thursday. The firm has a market capitalization of $71.97 billion, a price-to-earnings ratio of 35.51, a price-to-earnings-growth ratio of 3.64 and a beta of 0.73. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. Republic Services, Inc. has a fifty-two week low of $180.91 and a fifty-two week high of $240.95. The stock’s fifty day moving average is $220.75 and its two-hundred day moving average is $211.38.

Republic Services (NYSE:RSG) last posted its earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.21. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The firm had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same period last year, the firm posted $1.41 EPS. Analysts predict that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RSG. BMO Capital Markets raised Republic Services from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $211.00 to $238.00 in a report on Friday, December 6th. Cibc World Mkts upgraded shares of Republic Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 4th. Morgan Stanley boosted their price target on shares of Republic Services from $220.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. UBS Group raised their price objective on shares of Republic Services from $212.00 to $240.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Finally, Truist Financial reiterated a “buy” rating and set a $250.00 target price (up previously from $244.00) on shares of Republic Services in a research report on Friday, February 14th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Republic Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.88.

Insiders Place Their Bets

In related news, COO Gregg Brummer sold 6,293 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the sale, the chief operating officer now owns 10,416 shares of the company’s stock, valued at $2,376,931.20. This trade represents a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is currently owned by company insiders.

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.