NEOS Investment Management LLC Buys 2,486 Shares of Republic Services, Inc. (NYSE:RSG)

NEOS Investment Management LLC boosted its stake in shares of Republic Services, Inc. (NYSE:RSG) by 29.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 10,823 shares of the business services provider’s stock after purchasing an additional 2,486 shares during the period. NEOS Investment Management LLC’s holdings in Republic Services were worth $2,171,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in RSG. FSA Wealth Management LLC bought a new position in shares of Republic Services during the third quarter valued at $25,000. Arcadia Investment Management Corp MI increased its stake in Republic Services by 200.0% during the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 88 shares in the last quarter. R Squared Ltd purchased a new position in Republic Services in the fourth quarter worth about $32,000. Generali Asset Management SPA SGR bought a new position in shares of Republic Services in the fourth quarter worth approximately $45,000. Finally, Bank of Jackson Hole Trust purchased a new stake in shares of Republic Services during the fourth quarter valued at approximately $48,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Price Performance

Shares of Republic Services stock opened at $238.37 on Friday. The stock’s fifty day moving average is $227.72 and its 200 day moving average is $213.75. Republic Services, Inc. has a one year low of $180.92 and a one year high of $241.09. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. The stock has a market cap of $74.44 billion, a P/E ratio of 36.73, a P/E/G ratio of 3.64 and a beta of 0.73.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.21. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The firm had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same period in the previous year, the firm earned $1.41 EPS. Sell-side analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s dividend payout ratio (DPR) is 35.75%.

Insider Buying and Selling

In related news, COO Gregg Brummer sold 6,293 shares of the business’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 transaction, the chief operating officer now directly owns 10,416 shares of the company’s stock, valued at approximately $2,376,931.20. The trade was a 37.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

RSG has been the topic of several analyst reports. William Blair reaffirmed an “outperform” rating on shares of Republic Services in a research report on Friday, February 14th. Cibc World Mkts raised Republic Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 4th. Truist Financial reiterated a “buy” rating and issued a $250.00 price objective (up from $244.00) on shares of Republic Services in a report on Friday, February 14th. UBS Group upped their target price on shares of Republic Services from $212.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, Jefferies Financial Group boosted their price objective on shares of Republic Services from $235.00 to $244.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $236.88.

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.