Choate Investment Advisors Has $634,000 Holdings in Republic Services, Inc. (NYSE:RSG)

Choate Investment Advisors lifted its position in shares of Republic Services, Inc. (NYSE:RSG) by 8.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,150 shares of the business services provider’s stock after purchasing an additional 250 shares during the period. Choate Investment Advisors’ holdings in Republic Services were worth $634,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. FSA Wealth Management LLC acquired a new stake in shares of Republic Services during the third quarter worth $25,000. Arcadia Investment Management Corp MI raised its stake in Republic Services by 200.0% in the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock worth $27,000 after purchasing an additional 88 shares in the last quarter. R Squared Ltd bought a new stake in Republic Services in the 4th quarter valued at about $32,000. Truvestments Capital LLC acquired a new position in shares of Republic Services during the 3rd quarter worth approximately $34,000. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of Republic Services in the fourth quarter valued at approximately $48,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.09% of the company’s stock.

Republic Services Trading Up 1.2 %

RSG opened at $232.08 on Monday. The company’s 50 day moving average price is $221.95 and its two-hundred day moving average price is $211.74. The firm has a market capitalization of $72.48 billion, a price-to-earnings ratio of 35.76, a PEG ratio of 3.64 and a beta of 0.73. Republic Services, Inc. has a fifty-two week low of $180.91 and a fifty-two week high of $240.95. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.21. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. During the same period in the prior year, the business posted $1.41 earnings per share. As a group, research analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current 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 issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services’s payout ratio is presently 35.75%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Cibc World Mkts upgraded Republic Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and raised their price target for the stock from $219.00 to $237.00 in a research report on Tuesday, December 10th. The Goldman Sachs Group increased their price objective on shares of Republic Services from $239.00 to $265.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Morgan Stanley upped their price target on shares of Republic Services from $220.00 to $230.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Finally, Truist Financial restated a “buy” rating and set a $250.00 price objective (up from $244.00) on shares of Republic Services in a research report on Friday, February 14th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.88.

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.