Keel Point LLC Buys Shares of 1,279 Republic Services, Inc. (NYSE:RSG)

Keel Point LLC purchased a new position in Republic Services, Inc. (NYSE:RSG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,279 shares of the business services provider’s stock, valued at approximately $211,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. D.A. Davidson & CO. bought a new stake in Republic Services in the 1st quarter worth approximately $203,000. Synovus Financial Corp lifted its holdings in shares of Republic Services by 1.9% in the 1st quarter. Synovus Financial Corp now owns 14,255 shares of the business services provider’s stock worth $1,890,000 after acquiring an additional 260 shares during the last quarter. Vontobel Holding Ltd. boosted its stake in shares of Republic Services by 34.6% in the 1st quarter. Vontobel Holding Ltd. now owns 3,885 shares of the business services provider’s stock valued at $523,000 after purchasing an additional 998 shares in the last quarter. Blair William & Co. IL lifted its stake in Republic Services by 1.6% in the first quarter. Blair William & Co. IL now owns 31,162 shares of the business services provider’s stock worth $4,129,000 after purchasing an additional 495 shares during the last quarter. Finally, Moors & Cabot Inc. increased its holdings in shares of Republic Services by 2.9% in the first quarter. Moors & Cabot Inc. now owns 6,726 shares of the business services provider’s stock worth $891,000 after buying an additional 187 shares during the period. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on RSG shares. Royal Bank of Canada began coverage on Republic Services in a research note on Monday, April 8th. They issued a “sector perform” rating and a $198.00 price target on the stock. Truist Financial upped their price target on shares of Republic Services from $175.00 to $192.00 and gave the company a “hold” rating in a report on Wednesday, February 28th. Morgan Stanley lowered shares of Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 price target on the stock. in a report on Friday, March 15th. UBS Group lowered Republic Services from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $175.00 to $195.00 in a research report on Thursday, February 29th. Finally, Wells Fargo & Company raised their target price on shares of Republic Services from $180.00 to $188.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Republic Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.77.

Republic Services Stock Up 0.8 %

Shares of Republic Services stock opened at $188.95 on Thursday. The company has a 50-day simple moving average of $185.28 and a two-hundred day simple moving average of $168.34. The stock has a market capitalization of $59.52 billion, a PE ratio of 34.54, a price-to-earnings-growth ratio of 3.28 and a beta of 0.68. Republic Services, Inc. has a 52-week low of $135.33 and a 52-week high of $192.57. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Tuesday, February 27th. The business services provider reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.13. The company had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.73 billion. Republic Services had a net margin of 11.57% and a return on equity of 17.32%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.13 EPS. On average, analysts anticipate that Republic Services, Inc. will post 6.01 EPS for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Tuesday, April 2nd were issued a $0.535 dividend. The ex-dividend date of this dividend was Monday, April 1st. This represents a $2.14 annualized dividend and a yield of 1.13%. Republic Services’s payout ratio is 39.12%.

Insider Buying and Selling at Republic Services

In other news, CEO Ark Jon Vander sold 5,446 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the completion of the transaction, the chief executive officer now directly owns 85,113 shares of the company’s stock, valued at $15,669,303.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.09% of the company’s stock.

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.