First Commonwealth Financial Corp PA Buys 108 Shares of Republic Services, Inc. (NYSE:RSG)

First Commonwealth Financial Corp PA boosted its stake in Republic Services, Inc. (NYSE:RSG) by 2.9% during the 4th quarter, HoldingsChannel reports. The fund owned 3,829 shares of the business services provider’s stock after acquiring an additional 108 shares during the quarter. First Commonwealth Financial Corp PA’s holdings in Republic Services were worth $770,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. lifted its holdings in shares of Republic Services by 2.2% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 2,213 shares of the business services provider’s stock worth $445,000 after acquiring an additional 48 shares during the period. Access Financial Services Inc. raised its position in Republic Services by 0.8% during 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 in the last quarter. Tower Wealth Partners Inc. lifted its stake in Republic Services by 3.3% during the fourth quarter. Tower Wealth Partners Inc. now owns 1,697 shares of the business services provider’s stock worth $341,000 after purchasing an additional 54 shares during the last quarter. Umpqua Bank increased its stake in shares of Republic Services by 3.2% in the 4th quarter. Umpqua Bank now owns 1,808 shares of the business services provider’s stock valued at $374,000 after purchasing an additional 56 shares during the last quarter. Finally, Fidelis Capital Partners LLC raised its holdings in shares of Republic Services by 3.9% during the 4th quarter. Fidelis Capital Partners LLC now owns 1,579 shares of the business services provider’s stock worth $349,000 after buying an additional 59 shares in the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, COO Gregg Brummer sold 6,293 shares of the business’s stock in a transaction 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 owns 10,416 shares in the company, valued at $2,376,931.20. The trade was a 37.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.09% of the company’s stock.

Republic Services Price Performance

Republic Services stock opened at $243.88 on Thursday. The firm has a market cap of $76.16 billion, a P/E ratio of 37.58, a P/E/G ratio of 3.64 and a beta of 0.62. The stock’s 50 day moving average is $234.67 and its 200 day moving average is $217.48. 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 one year low of $180.92 and a one year high of $249.73.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.21. The company 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 period in the prior year, the firm posted $1.41 EPS. As a group, research analysts expect that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd were issued a $0.58 dividend. The ex-dividend date of this dividend was Wednesday, April 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 0.95%. Republic Services’s payout ratio is currently 35.75%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RSG. Stifel Nicolaus lifted their target price on Republic Services from $240.00 to $257.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Truist Financial reaffirmed 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. UBS Group increased their price objective on shares of Republic Services from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Friday, April 11th. Morgan Stanley boosted their target price 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, Scotiabank raised their price objective on Republic Services from $233.00 to $250.00 and gave the company a “sector perform” rating in a report on Tuesday, April 8th. Five research 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’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $239.13.

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.