OP Asset Management Ltd bought a new stake in Republic Services, Inc. (NYSE:RSG – Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 23,039 shares of the business services provider’s stock, valued at approximately $5,046,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Laurel Wealth Advisors LLC acquired a new position in Republic Services during the 4th quarter valued at approximately $25,000. Wealth Watch Advisors INC acquired a new stake in Republic Services in the third quarter worth $26,000. Ameriflex Group Inc. bought a new stake in Republic Services in the third quarter valued at $29,000. Prosperity Bancshares Inc acquired a new position in shares of Republic Services during the fourth quarter valued at $30,000. Finally, Sound Income Strategies LLC bought a new position in shares of Republic Services during the fourth quarter worth about $32,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.
Republic Services Stock Up 1.4%
RSG stock opened at $216.46 on Friday. The firm’s 50-day moving average is $207.25 and its two-hundred day moving average is $214.06. The company has a market capitalization of $66.60 billion, a price-to-earnings ratio of 31.06, a price-to-earnings-growth ratio of 3.51 and a beta of 0.41. Republic Services, Inc. has a 52 week low of $196.41 and a 52 week high of $246.82. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11.
Republic Services Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Thursday, July 2nd will be given a dividend of $0.625 per share. The ex-dividend date is Thursday, July 2nd. This represents a $2.50 annualized dividend and a dividend yield of 1.2%. Republic Services’s dividend payout ratio (DPR) is 36.15%.
Analysts Set New Price Targets
A number of research firms have issued reports on RSG. UBS Group reduced their target price on shares of Republic Services from $240.00 to $223.00 and set a “neutral” rating for the company in a research note on Tuesday, May 12th. Royal Bank Of Canada lifted their price target on Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Wolfe Research started coverage on Republic Services in a report on Friday, March 13th. They issued a “peer perform” rating for the company. Argus downgraded Republic Services from a “buy” rating to a “hold” rating in a research note on Monday, May 11th. Finally, Citigroup reduced their price target on Republic Services from $253.00 to $247.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Eleven research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Republic Services currently has an average rating of “Moderate Buy” and an average price target of $243.26.
Read Our Latest Research Report on RSG
Insider Buying and Selling at Republic Services
In other Republic Services news, Director Sandra M. Volpe sold 1,800 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $211.28, for a total value of $380,304.00. Following the sale, the director directly owned 58 shares in the company, valued at approximately $12,254.24. The trade was a 96.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Cascade Investment, L.L.C. acquired 60,700 shares of Republic Services stock in a transaction dated Monday, May 18th. The shares were acquired at an average price of $213.31 per share, with a total value of $12,947,917.00. Following the transaction, the insider owned 110,803,982 shares in the company, valued at approximately $23,635,597,400.42. This represents a 0.05% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders bought 987,150 shares of company stock valued at $202,366,682. Insiders own 0.12% of the company’s stock.
Republic Services Company Profile
Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.
Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.
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