Beacon Pointe Advisors LLC Increases Holdings in Republic Services, Inc. (NYSE:RSG)

Beacon Pointe Advisors LLC raised its position in shares of Republic Services, Inc. (NYSE:RSG) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,663 shares of the business services provider’s stock after purchasing an additional 107 shares during the period. Beacon Pointe Advisors LLC’s holdings in Republic Services were worth $938,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in RSG. Arcadia Investment Management Corp MI lifted its stake in Republic Services by 200.0% in the fourth quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock worth $27,000 after acquiring an additional 88 shares during the period. R Squared Ltd purchased a new stake in shares of Republic Services in the 4th quarter worth approximately $32,000. New Age Alpha Advisors LLC increased its holdings in Republic Services by 70.2% during the fourth quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider’s stock valued at $36,000 after buying an additional 73 shares during the period. Generali Asset Management SPA SGR bought a new position in Republic Services in the fourth quarter worth approximately $45,000. Finally, Bank of Jackson Hole Trust purchased a new stake in Republic Services during the fourth quarter worth $48,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Trading Up 0.4 %

Republic Services stock opened at $250.42 on Friday. Republic Services, Inc. has a 52 week low of $180.92 and a 52 week high of $252.40. The stock has a 50-day moving average price of $238.62 and a 200 day moving average price of $220.98. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $78.26 billion, a price-to-earnings ratio of 38.59, a price-to-earnings-growth ratio of 3.64 and a beta of 0.62.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.53 by $0.05. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The business had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the prior year, the firm earned $1.45 EPS. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. Sell-side analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Wednesday, July 2nd will be issued a $0.58 dividend. The ex-dividend date is Wednesday, July 2nd. This represents a $2.32 annualized dividend and a dividend yield of 0.93%. Republic Services’s dividend payout ratio (DPR) is presently 34.99%.

Insider Transactions at Republic Services

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total value of $1,436,062.60. Following the completion of the transaction, the chief operating officer now directly owns 10,416 shares of the company’s stock, valued at approximately $2,376,931.20. The trade was a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on RSG shares. Stifel Nicolaus boosted their price target on Republic Services from $240.00 to $257.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Jefferies Financial Group increased their price target on shares of Republic Services from $235.00 to $244.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Truist Financial boosted their price objective on shares of Republic Services from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday, April 22nd. CIBC upgraded shares of Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 target price for the company in a research note on Tuesday, March 4th. Finally, Scotiabank upped their price target on Republic Services from $233.00 to $250.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $249.00.

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.