Delta Financial Group Inc. Purchases New Shares in Republic Services, Inc. (NYSE:RSG)

Delta Financial Group Inc. purchased a new position in Republic Services, Inc. (NYSE:RSG) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,057 shares of the business services provider’s stock, valued at approximately $213,000.

Other institutional investors also recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. boosted its stake in Republic Services by 2.2% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 2,213 shares of the business services provider’s stock valued at $445,000 after acquiring an additional 48 shares during the last quarter. Simmons Bank raised its holdings in shares of Republic Services by 2.8% in the 3rd quarter. Simmons Bank now owns 1,895 shares of the business services provider’s stock worth $381,000 after purchasing an additional 51 shares during the period. Access Financial Services Inc. lifted its stake in Republic Services by 0.8% in the fourth quarter. Access Financial Services Inc. now owns 6,178 shares of the business services provider’s stock valued at $1,243,000 after purchasing an additional 51 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in Republic Services by 1.0% during the third quarter. Hantz Financial Services Inc. now owns 5,099 shares of the business services provider’s stock valued at $1,024,000 after purchasing an additional 52 shares during the period. Finally, Venturi Wealth Management LLC increased its position in Republic Services by 16.5% in the third quarter. Venturi Wealth Management LLC now owns 382 shares of the business services provider’s stock worth $77,000 after buying an additional 54 shares during the last quarter. Institutional investors own 57.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and increased their price target for the stock from $219.00 to $237.00 in a research note on Tuesday, December 10th. Argus set a $260.00 target price on shares of Republic Services in a research report on Tuesday, February 18th. Truist Financial reissued a “buy” rating and issued a $250.00 price target (up previously from $244.00) on shares of Republic Services in a research report on Friday, February 14th. William Blair reaffirmed an “outperform” rating on shares of Republic Services in a report on Friday, February 14th. Finally, The Goldman Sachs Group boosted their target price on shares of Republic Services from $239.00 to $265.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $233.41.

Insider Buying and Selling at Republic Services

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the transaction, the chief operating officer now directly owns 10,416 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director Katharine Weymouth sold 1,859 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total transaction of $400,186.93. Following the completion of the sale, the director now owns 879 shares of the company’s stock, valued at approximately $189,222.33. The trade was a 67.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Republic Services Stock Performance

NYSE:RSG opened at $230.73 on Monday. The stock has a market cap of $72.05 billion, a P/E ratio of 35.55, a PEG ratio of 3.64 and a beta of 0.74. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. The business’s 50-day moving average price is $212.87 and its two-hundred day moving average price is $208.65. Republic Services, Inc. has a twelve month low of $180.91 and a twelve month high of $232.52.

Republic Services (NYSE:RSG) last announced its earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.21. The business had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.08 billion. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. During the same period in the previous year, the business posted $1.41 earnings per share. As a group, equities analysts predict that Republic Services, Inc. will post 6.86 EPS for the current fiscal 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 $0.58 dividend. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 1.01%. Republic Services’s dividend payout ratio is presently 35.75%.

About Republic Services

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.