Legacy Advisors LLC Makes New Investment in Republic Services, Inc. (NYSE:RSG)

Legacy Advisors LLC purchased a new stake in Republic Services, Inc. (NYSE:RSG) in the 1st quarter, Holdings Channel.com reports. The firm purchased 870 shares of the business services provider’s stock, valued at approximately $211,000.

Other institutional investors also recently made changes to their positions in the company. DnB Asset Management AS increased its stake in shares of Republic Services by 65.1% in the fourth quarter. DnB Asset Management AS now owns 72,931 shares of the business services provider’s stock valued at $14,672,000 after purchasing an additional 28,764 shares during the period. Hickory Point Bank & Trust acquired a new stake in Republic Services in the 4th quarter valued at about $790,000. Uniting Wealth Partners LLC acquired a new stake in Republic Services during the fourth quarter valued at approximately $266,000. Sowell Financial Services LLC bought a new stake in shares of Republic Services during the 1st quarter worth $260,000. Finally, BNP Paribas Financial Markets boosted its position in shares of Republic Services by 3.4% in the 4th quarter. BNP Paribas Financial Markets now owns 435,835 shares of the business services provider’s stock valued at $87,681,000 after purchasing an additional 14,273 shares during the period. 57.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RSG has been the topic of several research analyst reports. BMO Capital Markets reiterated an “outperform” rating and set a $280.00 price objective (up from $268.00) on shares of Republic Services in a research report on Monday, June 9th. Robert W. Baird boosted their price target on Republic Services from $232.00 to $245.00 and gave the company a “neutral” rating in a research note on Friday, April 25th. Truist Financial increased their target price on shares of Republic Services from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, April 22nd. UBS Group lifted their price target on shares of Republic Services from $240.00 to $250.00 and gave the company a “neutral” rating in a research report on Friday, April 11th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $266.00 price objective on shares of Republic Services in a research report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $252.68.

Republic Services Stock Performance

NYSE:RSG opened at $244.12 on Thursday. The stock has a market capitalization of $76.29 billion, a P/E ratio of 36.82, a price-to-earnings-growth ratio of 3.84 and a beta of 0.63. Republic Services, Inc. has a 1 year low of $188.82 and a 1 year high of $258.75. The firm has a 50 day moving average of $248.84 and a 200-day moving average of $231.71. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.10.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, April 24th. The business services provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.05. Republic Services had a net margin of 12.88% and a return on equity of 18.28%. The firm had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter last year, the company posted $1.45 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, sell-side 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, July 15th. Shareholders of record on Wednesday, July 2nd will be issued a dividend of $0.58 per share. The ex-dividend date is Wednesday, July 2nd. This represents a $2.32 annualized dividend and a yield of 0.95%. Republic Services’s dividend payout ratio is currently 34.99%.

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.