SVB Wealth LLC Grows Position in Republic Services, Inc. (NYSE:RSG)

SVB Wealth LLC grew its stake in Republic Services, Inc. (NYSE:RSG) by 17.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,201 shares of the business services provider’s stock after acquiring an additional 1,212 shares during the quarter. SVB Wealth LLC’s holdings in Republic Services were worth $1,570,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Capital World Investors lifted its holdings in Republic Services by 416.9% in the fourth quarter. Capital World Investors now owns 6,562,420 shares of the business services provider’s stock valued at $1,082,209,000 after acquiring an additional 5,292,862 shares during the period. Norges Bank bought a new position in shares of Republic Services during the fourth quarter worth $358,837,000. TD Asset Management Inc grew its position in shares of Republic Services by 424.7% during the first quarter. TD Asset Management Inc now owns 1,722,107 shares of the business services provider’s stock valued at $329,680,000 after purchasing an additional 1,393,918 shares in the last quarter. M&G Plc purchased a new stake in shares of Republic Services in the first quarter valued at $130,892,000. Finally, Corient Private Wealth LLC grew its position in Republic Services by 136.5% in the 4th quarter. Corient Private Wealth LLC now owns 361,900 shares of the business services provider’s stock valued at $59,681,000 after acquiring an additional 208,902 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Stock Up 0.9 %

Shares of NYSE RSG traded up $1.76 during midday trading on Tuesday, reaching $193.92. 105,204 shares of the company’s stock were exchanged, compared to its average volume of 1,205,814. The stock has a market capitalization of $60.90 billion, a PE ratio of 33.72, a price-to-earnings-growth ratio of 3.18 and a beta of 0.69. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.59 and a current ratio of 0.59. The business’s fifty day moving average price is $192.37 and its two-hundred day moving average price is $186.36. Republic Services, Inc. has a 52-week low of $140.23 and a 52-week high of $206.54.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, April 30th. The business services provider reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.10. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the previous year, the company posted $1.24 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. Analysts forecast that Republic Services, Inc. will post 6.17 EPS for the current year.

Republic Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.20%. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. The ex-dividend date is Wednesday, October 2nd. Republic Services’s dividend payout ratio (DPR) is 37.54%.

Insiders Place Their Bets

In other Republic Services news, Director Katharine Weymouth acquired 540 shares of Republic Services stock in a transaction that occurred on Tuesday, June 4th. The stock was purchased at an average cost of $185.26 per share, with a total value of $100,040.40. Following the purchase, the director now owns 540 shares in the company, valued at $100,040.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CMO Amanda Hodges sold 6,500 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $186.02, for a total value of $1,209,130.00. Following the sale, the chief marketing officer now owns 6,831 shares in the company, valued at $1,270,702.62. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Katharine Weymouth bought 540 shares of Republic Services stock in a transaction that occurred on Tuesday, June 4th. The stock was bought at an average price of $185.26 per share, with a total value of $100,040.40. Following the purchase, the director now owns 540 shares of the company’s stock, valued at approximately $100,040.40. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

RSG has been the topic of several research reports. Robert W. Baird lifted their price objective on shares of Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Stifel Nicolaus upped their target price on Republic Services from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. BMO Capital Markets upped their price objective on shares of Republic Services from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft started coverage on shares of Republic Services in a research report on Thursday, May 23rd. They issued a “hold” rating and a $203.00 price objective for the company. Finally, Truist Financial upgraded shares of Republic Services from a “hold” rating to a “buy” rating and upped their price target for the stock from $192.00 to $220.00 in a research report on Thursday, July 11th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $211.69.

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.