Tower Wealth Partners Inc. Has $341,000 Stock Position in Republic Services, Inc. (NYSE:RSG)

Tower Wealth Partners Inc. boosted its stake in Republic Services, Inc. (NYSE:RSG) by 3.3% in the fourth quarter, Holdings Channel reports. The firm owned 1,697 shares of the business services provider’s stock after purchasing an additional 54 shares during the quarter. Tower Wealth Partners Inc.’s holdings in Republic Services were worth $341,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of RSG. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Republic Services by 37.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,682 shares of the business services provider’s stock valued at $3,586,000 after purchasing an additional 4,827 shares in the last quarter. TCW Group Inc. lifted its position in shares of Republic Services by 13.0% during the 3rd quarter. TCW Group Inc. now owns 114,582 shares of the business services provider’s stock worth $23,013,000 after buying an additional 13,138 shares during the last quarter. Avanza Fonder AB bought a new position in Republic Services in the fourth quarter valued at about $4,430,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Republic Services during the third quarter worth about $6,102,000. Finally, Czech National Bank lifted its holdings in shares of Republic Services by 6.1% in the fourth quarter. Czech National Bank now owns 44,134 shares of the business services provider’s stock worth $8,879,000 after acquiring an additional 2,548 shares during the last quarter. Institutional investors own 57.73% of the company’s stock.

Insider Transactions at Republic Services

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total value of $1,436,062.60. Following the completion of the sale, the chief operating officer now owns 10,416 shares of the company’s stock, valued at approximately $2,376,931.20. This trade represents a 37.66 % decrease in their ownership of the stock. 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 Trading Up 1.2 %

NYSE:RSG opened at $234.28 on Monday. Republic Services, Inc. has a 52 week low of $180.91 and a 52 week high of $240.95. The firm’s fifty day moving average is $218.91 and its 200-day moving average is $210.88. The firm has a market cap of $73.16 billion, a P/E ratio of 36.10, a P/E/G ratio of 3.64 and a beta of 0.73. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58.

Republic Services (NYSE:RSG) last released its earnings results on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.37 by $0.21. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The business had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter last year, the firm posted $1.41 earnings per share. Equities analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be issued a dividend of $0.58 per share. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $2.32 annualized dividend and a dividend yield of 0.99%. Republic Services’s dividend payout ratio is currently 35.75%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RSG. Royal Bank of Canada raised shares of Republic Services from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $219.00 to $237.00 in a report on Monday, January 6th. Truist Financial reiterated a “buy” rating and set a $250.00 price target (up from $244.00) on shares of Republic Services in a report on Friday, February 14th. BMO Capital Markets raised Republic Services from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $211.00 to $238.00 in a report on Friday, December 6th. The Goldman Sachs Group upped their target price on Republic Services from $239.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Finally, Argus set a $260.00 price target on Republic Services in a report on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $236.88.

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.