NewEdge Advisors LLC Acquires 8,845 Shares of Republic Services, Inc. (NYSE:RSG)

NewEdge Advisors LLC lifted its position in Republic Services, Inc. (NYSE:RSG) by 52.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,771 shares of the business services provider’s stock after buying an additional 8,845 shares during the quarter. NewEdge Advisors LLC’s holdings in Republic Services were worth $5,008,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Unigestion Holding SA raised its position in Republic Services by 2,178.2% in the fourth quarter. Unigestion Holding SA now owns 127,647 shares of the business services provider’s stock worth $21,048,000 after purchasing an additional 122,044 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Republic Services by 123.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 38,869 shares of the business services provider’s stock valued at $6,410,000 after acquiring an additional 21,481 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in Republic Services by 8.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 239,031 shares of the business services provider’s stock valued at $45,760,000 after purchasing an additional 19,414 shares during the period. Running Oak Capital LLC lifted its holdings in Republic Services by 12.3% in the first quarter. Running Oak Capital LLC now owns 59,310 shares of the business services provider’s stock valued at $11,347,000 after buying an additional 6,475 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Republic Services by 32.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,296 shares of the business services provider’s stock worth $18,052,000 after buying an additional 23,306 shares during the period. 57.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Republic Services

In related news, Director Tomago Collins sold 3,200 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $203.01, for a total transaction of $649,632.00. Following the transaction, the director now directly owns 17,486 shares in the company, valued at approximately $3,549,832.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.

Republic Services Trading Up 0.2 %

Shares of RSG opened at $201.28 on Wednesday. The company has a market capitalization of $63.22 billion, a P/E ratio of 35.31, a P/E/G ratio of 3.20 and a beta of 0.70. The firm’s 50 day simple moving average is $202.08 and its 200 day simple moving average is $194.68. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.59 and a quick ratio of 0.59. Republic Services, Inc. has a 1-year low of $140.23 and a 1-year high of $208.69.

Republic Services (NYSE:RSG) last announced its earnings results on Wednesday, July 24th. The business services provider reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.08. The company had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.03 billion. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. Sell-side 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 announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Wednesday, October 2nd. This is an increase from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s payout ratio is 37.54%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on RSG shares. Truist Financial raised shares of Republic Services from a “hold” rating to a “buy” rating and upped their target price for the stock from $192.00 to $220.00 in a research note on Thursday, July 11th. BMO Capital Markets increased their target price on Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. CIBC lifted their price objective on shares of Republic Services from $196.00 to $208.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Royal Bank of Canada increased their price objective on shares of Republic Services from $201.00 to $211.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. Finally, Robert W. Baird raised their target price on Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $211.00.

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.