Advisors Asset Management Inc. Buys 6,697 Shares of Republic Services, Inc. (NYSE:RSG)

Advisors Asset Management Inc. lifted its stake in shares of Republic Services, Inc. (NYSE:RSG) by 21.8% in the fourth quarter, HoldingsChannel reports. The fund owned 37,427 shares of the business services provider’s stock after acquiring an additional 6,697 shares during the period. Advisors Asset Management Inc.’s holdings in Republic Services were worth $7,530,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FSA Wealth Management LLC purchased a new stake in shares of Republic Services in the third quarter worth $25,000. Arcadia Investment Management Corp MI boosted its holdings 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 buying an additional 88 shares during the period. R Squared Ltd purchased a new stake in Republic Services in the 4th quarter worth $32,000. Truvestments Capital LLC purchased a new position in shares of Republic Services in the third quarter valued at about $34,000. Finally, Bank of Jackson Hole Trust bought a new position in shares of Republic Services in the fourth quarter worth about $48,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Morgan Stanley boosted their price target on Republic Services from $220.00 to $230.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. BMO Capital Markets raised shares of Republic Services from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $211.00 to $238.00 in a report on Friday, December 6th. The Goldman Sachs Group lifted their price target on shares of Republic Services from $239.00 to $265.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. CIBC upgraded Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 price objective for the company in a research report on Tuesday, March 4th. Finally, Truist Financial reissued a “buy” rating and set a $250.00 price target (up from $244.00) on shares of Republic Services in a research note on Friday, February 14th. Five equities research 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $236.88.

Insider Transactions at Republic Services

In related news, COO Gregg Brummer sold 6,293 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total value of $1,436,062.60. Following 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Republic Services Trading Down 0.8 %

Shares of RSG opened at $233.86 on Wednesday. The company’s fifty day simple moving average is $223.26 and its 200-day simple moving average is $212.13. The company has a market cap of $73.03 billion, a P/E ratio of 36.03, a P/E/G ratio of 3.64 and a beta of 0.73. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a twelve month low of $180.92 and a twelve month high of $240.95.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 12.74% and a return on equity of 18.28%. During the same quarter last year, the firm earned $1.41 earnings per share. As a group, analysts expect that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Announces Dividend

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

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.