Republic Services, Inc. (NYSE:RSG) Shares Purchased by Garner Asset Management Corp

Garner Asset Management Corp grew its position in Republic Services, Inc. (NYSE:RSG) by 2.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,180 shares of the business services provider’s stock after acquiring an additional 113 shares during the period. Garner Asset Management Corp’s holdings in Republic Services were worth $812,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Beacon Pointe Advisors LLC boosted its position in Republic Services by 2.6% during the fourth quarter. Beacon Pointe Advisors LLC now owns 5,508 shares of the business services provider’s stock worth $908,000 after purchasing an additional 140 shares in the last quarter. Financial Advocates Investment Management acquired a new position in shares of Republic Services during the 4th quarter worth approximately $233,000. Brown Advisory Inc. lifted its position in shares of Republic Services by 6.2% during the 4th quarter. Brown Advisory Inc. now owns 11,542 shares of the business services provider’s stock valued at $1,903,000 after buying an additional 678 shares in the last quarter. Gladstone Institutional Advisory LLC grew its stake in Republic Services by 19.8% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 1,785 shares of the business services provider’s stock valued at $294,000 after acquiring an additional 295 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in Republic Services by 4.4% in the 4th quarter. Wells Fargo & Company MN now owns 247,955 shares of the business services provider’s stock worth $40,890,000 after acquiring an additional 10,509 shares in the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Trading Down 1.3 %

RSG opened at $199.18 on Thursday. The business’s 50 day moving average is $202.21 and its two-hundred day moving average is $193.56. The firm has a market cap of $62.56 billion, a price-to-earnings ratio of 34.94, a price-to-earnings-growth ratio of 3.29 and a beta of 0.70. 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.

Republic Services (NYSE:RSG) last released 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 during the quarter, compared to analysts’ expectations of $4.03 billion. On average, research analysts predict that Republic Services, Inc. will post 6.18 EPS for the current year.

Republic Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd will be issued a dividend of $0.58 per share. This is a boost from Republic Services’s previous quarterly dividend of $0.54. This represents a $2.32 annualized dividend and a yield of 1.16%. The ex-dividend date is Wednesday, October 2nd. Republic Services’s dividend payout ratio is currently 37.54%.

Insider Buying and Selling at Republic Services

In other news, Director Tomago Collins sold 3,200 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $203.01, for a total value of $649,632.00. Following the completion of the sale, the director now directly owns 17,486 shares of the company’s stock, valued at approximately $3,549,832.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

RSG has been the subject of several research reports. Deutsche Bank Aktiengesellschaft started coverage on Republic Services in a research note on Thursday, May 23rd. They set a “hold” rating and a $203.00 price objective for the company. Royal Bank of Canada upped their price target on Republic Services from $201.00 to $211.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Oppenheimer reduced their price target on Republic Services from $211.00 to $210.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Truist Financial raised Republic Services from a “hold” rating to a “buy” rating and boosted their target price for the company from $192.00 to $220.00 in a research report on Thursday, July 11th. Finally, Raymond James cut their price target on shares of Republic Services from $219.00 to $214.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average 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.