New Jersey Better Educational Savings Trust Makes New $231,000 Investment in Republic Services, Inc. (NYSE:RSG)

New Jersey Better Educational Savings Trust bought a new position in shares of Republic Services, Inc. (NYSE:RSG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,400 shares of the business services provider’s stock, valued at approximately $231,000.

Several other hedge funds have also recently modified their holdings of RSG. Magellan Asset Management Ltd grew its stake in Republic Services by 1,497,159.0% in the 3rd quarter. Magellan Asset Management Ltd now owns 913,328 shares of the business services provider’s stock valued at $130,158,000 after buying an additional 913,267 shares in the last quarter. FMR LLC grew its stake in Republic Services by 34.4% in the 3rd quarter. FMR LLC now owns 2,202,405 shares of the business services provider’s stock valued at $313,865,000 after buying an additional 563,761 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc purchased a new position in Republic Services in the 4th quarter valued at approximately $77,417,000. Envestnet Asset Management Inc. grew its stake in Republic Services by 50.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 900,653 shares of the business services provider’s stock valued at $128,352,000 after buying an additional 303,754 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its position in shares of Republic Services by 1,383.0% during the 3rd quarter. Panagora Asset Management Inc. now owns 241,098 shares of the business services provider’s stock valued at $34,359,000 after purchasing an additional 224,841 shares in the last quarter. Institutional investors own 57.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RSG shares. Truist Financial boosted their price target on shares of Republic Services from $175.00 to $192.00 and gave the company a “hold” rating in a research report on Wednesday, February 28th. Morgan Stanley lowered shares of Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 price target for the company. in a research report on Friday, March 15th. Oppenheimer boosted their price target 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. Royal Bank of Canada assumed coverage on shares of Republic Services in a research report on Monday, April 8th. They set a “sector perform” rating and a $198.00 price target for the company. Finally, BMO Capital Markets upped their target price on shares of Republic Services from $173.00 to $195.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 28th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Republic Services presently has an average rating of “Moderate Buy” and an average price target of $199.77.

Republic Services Trading Up 0.8 %

Republic Services stock traded up $1.53 during mid-day trading on Thursday, hitting $193.52. The company’s stock had a trading volume of 1,358,375 shares, compared to its average volume of 1,205,295. 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 market cap of $60.95 billion, a price-to-earnings ratio of 34.69, a price-to-earnings-growth ratio of 3.33 and a beta of 0.68. The business has a 50 day moving average price of $186.86 and a 200-day moving average price of $170.01. Republic Services, Inc. has a 12 month low of $135.33 and a 12 month high of $193.82.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Tuesday, February 27th. The business services provider reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.13. The business had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.73 billion. Republic Services had a net margin of 11.57% and a return on equity of 17.32%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.13 earnings per share. As a group, analysts forecast that Republic Services, Inc. will post 6.01 EPS for the current year.

Republic Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Tuesday, April 2nd were paid a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend was Monday, April 1st. Republic Services’s dividend payout ratio (DPR) is 39.12%.

Insider Activity

In other news, CEO Ark Jon Vander sold 5,446 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the completion of the transaction, 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 legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.09% of the company’s stock.

Republic Services Company 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.