IMS Capital Management Takes Position in Republic Services, Inc. (NYSE:RSG)

IMS Capital Management acquired a new position in Republic Services, Inc. (NYSE:RSG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,003 shares of the business services provider’s stock, valued at approximately $206,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Republic Services by 0.6% during the first quarter. Vanguard Group Inc. now owns 18,254,878 shares of the business services provider’s stock valued at $3,494,714,000 after acquiring an additional 101,518 shares in the last quarter. Capital World Investors grew its holdings in shares of Republic Services by 20.5% during the first quarter. Capital World Investors now owns 7,909,008 shares of the business services provider’s stock valued at $1,514,100,000 after buying an additional 1,346,588 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Republic Services by 5.4% in the second quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider’s stock valued at $351,480,000 after purchasing an additional 92,013 shares during the period. TD Asset Management Inc increased its holdings in Republic Services by 2.1% in the 2nd quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider’s stock worth $341,602,000 after buying an additional 35,650 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Republic Services by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 1,476,116 shares of the business services provider’s stock worth $286,868,000 after purchasing an additional 3,809 shares during the last quarter. 57.73% of the stock is owned by institutional investors.

Insider Transactions at Republic Services

In other news, Director Tomago Collins sold 3,200 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 17,486 shares in the company, valued at approximately $3,549,832.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on RSG shares. Oppenheimer cut their price target on Republic Services from $211.00 to $210.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Raymond James reduced their price target on Republic Services from $219.00 to $214.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. StockNews.com lowered Republic Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. 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. Finally, Truist Financial upgraded shares of Republic Services from a “hold” rating to a “buy” rating and raised their price target for the company from $192.00 to $220.00 in a research report on Thursday, July 11th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $211.00.

Republic Services Trading Up 0.7 %

Shares of NYSE:RSG opened at $200.84 on Tuesday. 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, Inc. has a fifty-two week low of $140.23 and a fifty-two week high of $208.69. The company’s 50-day moving average price is $202.03 and its 200 day moving average price is $194.58. The company has a market cap of $63.25 billion, a PE ratio of 35.24, a P/E/G ratio of 3.26 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 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.08. The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.03 billion. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. Sell-side analysts anticipate that Republic Services, Inc. will post 6.18 earnings per share for the current year.

Republic Services Increases Dividend

The firm 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 is an increase from Republic Services’s previous quarterly dividend of $0.54. This represents a $2.32 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Wednesday, October 2nd. Republic Services’s payout ratio is presently 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.