Summit Trail Advisors LLC Boosts Position in Republic Services, Inc. (NYSE:RSG)

Summit Trail Advisors LLC boosted its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 10.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,339 shares of the business services provider’s stock after buying an additional 126 shares during the quarter. Summit Trail Advisors LLC’s holdings in Republic Services were worth $260,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Republic Services by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 18,254,878 shares of the business services provider’s stock worth $3,494,714,000 after buying an additional 101,518 shares during the last quarter. Capital World Investors raised its position in Republic Services by 20.5% during the 1st quarter. Capital World Investors now owns 7,909,008 shares of the business services provider’s stock worth $1,514,100,000 after buying an additional 1,346,588 shares during the last quarter. TD Asset Management Inc increased its holdings in shares of Republic Services by 2.1% during the 2nd quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider’s stock valued at $341,602,000 after purchasing an additional 35,650 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Republic Services by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,476,116 shares of the business services provider’s stock valued at $286,868,000 after purchasing an additional 3,809 shares in the last quarter. Finally, Earnest Partners LLC increased its holdings in shares of Republic Services by 16.9% during the 1st quarter. Earnest Partners LLC now owns 1,262,519 shares of the business services provider’s stock valued at $241,697,000 after purchasing an additional 182,645 shares in the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on RSG shares. Truist Financial raised shares of Republic Services from a “hold” rating to a “buy” rating and lifted their target price for the company from $192.00 to $220.00 in a report on Thursday, July 11th. Raymond James cut their target price on shares of Republic Services from $219.00 to $214.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Stifel Nicolaus lifted their target price on shares of Republic Services from $215.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Oppenheimer dropped their price target on shares of Republic Services from $211.00 to $210.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Finally, StockNews.com cut shares of Republic Services from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $211.00.

Insider Transactions at Republic Services

In other news, Director Tomago Collins sold 3,200 shares of Republic Services stock in a transaction on Friday, August 16th. The stock was sold at an average price of $203.01, for a total transaction of $649,632.00. Following the transaction, the director now owns 17,486 shares in the company, valued at approximately $3,549,832.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.09% of the company’s stock.

Republic Services Trading Up 0.3 %

Shares of RSG opened at $203.39 on Wednesday. Republic Services, Inc. has a 52-week low of $140.23 and a 52-week high of $208.69. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.05. The firm’s fifty day moving average is $202.29 and its two-hundred day moving average is $194.13. The stock has a market cap of $64.05 billion, a PE ratio of 35.68, a price-to-earnings-growth ratio of 3.30 and a beta of 0.70.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.61 EPS for the quarter, topping the consensus estimate of $1.53 by $0.08. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. The business had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.03 billion. Research analysts forecast that Republic Services, Inc. will post 6.18 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Wednesday, October 2nd. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s payout ratio is currently 40.70%.

Republic Services 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.