Howard Capital Management Inc. Increases Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Howard Capital Management Inc. raised its stake in Republic Services, Inc. (NYSE:RSG) by 5.9% during the 4th quarter, HoldingsChannel reports. The firm owned 1,231 shares of the business services provider’s stock after acquiring an additional 69 shares during the period. Howard Capital Management Inc.’s holdings in Republic Services were worth $248,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FSA Wealth Management LLC purchased a new position in shares of Republic Services in the 3rd quarter valued at approximately $25,000. Arcadia Investment Management Corp MI lifted its holdings in shares of 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 valued at $27,000 after buying an additional 88 shares during the period. R Squared Ltd acquired a new stake in shares of Republic Services in the 4th quarter valued at approximately $32,000. Truvestments Capital LLC acquired a new stake in shares of Republic Services in the 3rd quarter valued at approximately $34,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Republic Services in the 3rd quarter valued at approximately $39,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction 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 sale, the chief operating officer now owns 10,416 shares of the company’s stock, valued at $2,376,931.20. The trade was a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Katharine Weymouth sold 1,859 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $215.27, for a total value of $400,186.93. Following the sale, the director now directly owns 879 shares of the company’s stock, valued at approximately $189,222.33. This trade represents a 67.90 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Republic Services Stock Performance

NYSE RSG opened at $233.50 on Wednesday. Republic Services, Inc. has a fifty-two week low of $180.91 and a fifty-two week high of $234.03. The stock has a market cap of $72.92 billion, a price-to-earnings ratio of 35.98, a price-to-earnings-growth ratio of 3.64 and a beta of 0.74. The business has a fifty day moving average of $213.92 and a 200-day moving average of $209.09. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.21. The company had revenue of $4.05 billion during the quarter, compared to analysts’ expectations 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 previous year, the firm posted $1.41 earnings per share. As a group, analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services’s dividend payout ratio is currently 35.75%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RSG. William Blair reissued an “outperform” rating on shares of Republic Services in a report on Friday, February 14th. Deutsche Bank Aktiengesellschaft raised Republic Services from a “hold” rating to a “buy” rating and raised their price target for the company from $219.00 to $237.00 in a report on Tuesday, December 10th. Truist Financial reissued a “buy” rating and issued a $250.00 price target (up from $244.00) on shares of Republic Services in a report on Friday, February 14th. UBS Group lifted their price objective on Republic Services from $212.00 to $240.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Finally, CIBC lifted their price objective on Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $233.41.

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.