LPL Financial LLC Raises Stock Holdings in Republic Services, Inc. (NYSE:RSG)

LPL Financial LLC grew its holdings in Republic Services, Inc. (NYSE:RSG) by 12.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 358,348 shares of the business services provider’s stock after buying an additional 40,634 shares during the quarter. LPL Financial LLC owned 0.11% of Republic Services worth $72,092,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in RSG. FSA Wealth Management LLC acquired a new position in Republic Services during the third quarter worth $25,000. Arcadia Investment Management Corp MI increased its stake in shares of Republic Services by 200.0% during the fourth quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock worth $27,000 after purchasing an additional 88 shares in the last quarter. R Squared Ltd acquired a new position in shares of Republic Services during the 4th quarter worth about $32,000. Truvestments Capital LLC purchased a new position in Republic Services in the 3rd quarter valued at about $34,000. Finally, Generali Asset Management SPA SGR purchased a new stake in Republic Services during the 4th quarter worth approximately $45,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Price Performance

Shares of RSG opened at $237.79 on Thursday. The firm has a 50-day simple moving average of $226.67 and a two-hundred day simple moving average of $213.33. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64. Republic Services, Inc. has a 1-year low of $180.92 and a 1-year high of $240.95. The stock has a market cap of $74.26 billion, a PE ratio of 36.64, a P/E/G ratio of 3.64 and a beta of 0.73.

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 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 company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the previous year, the company earned $1.41 earnings per share. As a group, analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services’s dividend payout ratio is currently 35.75%.

Insiders Place Their Bets

In related news, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer now owns 10,416 shares in the company, valued at approximately $2,376,931.20. The trade was a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Truist Financial restated a “buy” rating and issued a $250.00 target price (up previously from $244.00) on shares of Republic Services in a research report on Friday, February 14th. The Goldman Sachs Group lifted their target price on shares of Republic Services from $239.00 to $265.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Morgan Stanley raised their price target 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. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and upped their price target for the company from $219.00 to $237.00 in a research report on Tuesday, December 10th. Finally, CIBC upgraded Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 price objective on the stock in a research report on Tuesday, March 4th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average 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.