Avalon Trust Co Buys New Stake in Republic Services, Inc. (NYSE:RSG)

Avalon Trust Co purchased a new position in Republic Services, Inc. (NYSE:RSG) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 400 shares of the business services provider’s stock, valued at approximately $80,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Choate Investment Advisors raised its holdings in shares of Republic Services by 8.6% in the fourth quarter. Choate Investment Advisors now owns 3,150 shares of the business services provider’s stock worth $634,000 after buying an additional 250 shares during the last quarter. Natixis Advisors LLC raised its holdings in shares of Republic Services by 6.9% in the fourth quarter. Natixis Advisors LLC now owns 141,764 shares of the business services provider’s stock worth $28,520,000 after buying an additional 9,124 shares during the last quarter. Aviso Financial Inc. raised its holdings in shares of Republic Services by 3.8% in the fourth quarter. Aviso Financial Inc. now owns 14,977 shares of the business services provider’s stock worth $3,013,000 after buying an additional 546 shares during the last quarter. LBP AM SA raised its holdings in shares of Republic Services by 49.9% in the fourth quarter. LBP AM SA now owns 115,479 shares of the business services provider’s stock worth $23,232,000 after buying an additional 38,448 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in shares of Republic Services by 28.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 45,684 shares of the business services provider’s stock worth $9,191,000 after buying an additional 10,072 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Stock Up 1.2 %

Shares of NYSE RSG opened at $232.08 on Friday. The company’s 50-day simple moving average is $221.95 and its 200-day simple moving average is $211.71. Republic Services, Inc. has a 52-week low of $180.91 and a 52-week high of $240.95. The firm has a market cap of $72.48 billion, a price-to-earnings ratio of 35.76, a price-to-earnings-growth ratio of 3.64 and a beta of 0.73. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04.

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 for 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 quarter last year, the business earned $1.41 earnings per share. Equities analysts predict that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s dividend payout ratio is currently 35.75%.

Wall Street Analyst Weigh In

RSG has been the subject of a number of research analyst reports. William Blair reaffirmed an “outperform” rating on shares of Republic Services in a report on Friday, February 14th. Truist Financial reiterated a “buy” rating and issued a $250.00 price objective (up previously from $244.00) on shares of Republic Services in a research note on Friday, February 14th. Royal Bank of Canada upgraded shares of Republic Services from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $219.00 to $237.00 in a research note on Monday, January 6th. Morgan Stanley increased their price objective on shares of Republic Services from $220.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Finally, Argus set a $260.00 price objective on shares of Republic Services in a research note on Tuesday, February 18th. 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $236.88.

Insider Transactions at Republic Services

In other news, COO Gregg Brummer sold 6,293 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were 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. This trade represents a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 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.