Keel Point LLC Makes New Investment in Republic Services, Inc. (NYSE:RSG)

Keel Point LLC acquired a new position in Republic Services, Inc. (NYSE:RSG) in the fourth quarter, Holdings Channel.com reports. The fund acquired 1,279 shares of the business services provider’s stock, valued at approximately $211,000.

Other institutional investors have also recently made changes to their positions in the company. Parcion Private Wealth LLC increased its stake in Republic Services by 0.3% during the 4th quarter. Parcion Private Wealth LLC now owns 23,808 shares of the business services provider’s stock valued at $3,926,000 after purchasing an additional 68 shares in the last quarter. Stokes Family Office LLC raised its stake in Republic Services by 2.2% in the 3rd quarter. Stokes Family Office LLC now owns 3,209 shares of the business services provider’s stock worth $457,000 after acquiring an additional 70 shares during the last quarter. WASHINGTON TRUST Co grew its stake in Republic Services by 4.5% during the 4th quarter. WASHINGTON TRUST Co now owns 1,620 shares of the business services provider’s stock valued at $267,000 after purchasing an additional 70 shares during the last quarter. FinTrust Capital Advisors LLC increased its holdings in shares of Republic Services by 56.3% in the third quarter. FinTrust Capital Advisors LLC now owns 197 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 71 shares during the period. Finally, Greenleaf Trust lifted its holdings in shares of Republic Services by 1.6% during the third quarter. Greenleaf Trust now owns 4,504 shares of the business services provider’s stock worth $642,000 after purchasing an additional 72 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Trading Up 0.8 %

Shares of RSG stock opened at $188.95 on Thursday. Republic Services, Inc. has a 1-year low of $135.33 and a 1-year high of $192.57. The company has a market cap of $59.52 billion, a price-to-earnings ratio of 34.54, a PEG ratio of 3.28 and a beta of 0.68. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a 50 day simple moving average of $185.28 and a 200-day simple moving average of $168.34.

Republic Services (NYSE:RSG) last posted 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. Republic Services had a net margin of 11.57% and a return on equity of 17.32%. The company had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.73 billion. During the same period in the prior year, the business posted $1.13 earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities research analysts expect that Republic Services, Inc. will post 6.01 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company 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. This represents a $2.14 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Monday, April 1st. Republic Services’s payout ratio is 39.12%.

Analysts Set New Price Targets

Several brokerages recently weighed in on RSG. The Goldman Sachs Group increased their price target on shares of Republic Services from $209.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday. Truist Financial increased their price objective on shares of Republic Services from $175.00 to $192.00 and gave the stock a “hold” rating in a research note on Wednesday, February 28th. Oppenheimer boosted their target price on shares of Republic Services from $182.00 to $195.00 and gave the company an “outperform” rating in a research report on Wednesday, February 28th. Morgan Stanley downgraded Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 price target on the stock. in a research report on Friday, March 15th. Finally, Wells Fargo & Company boosted their price objective on Republic Services from $180.00 to $188.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $199.77.

Insiders Place Their Bets

In other news, CEO Ark Jon Vander sold 5,446 shares of Republic Services stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $184.10, for a total value of $1,002,608.60. Following the sale, the chief executive officer now directly owns 85,113 shares of the company’s stock, valued at $15,669,303.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is owned by company insiders.

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.