Welch & Forbes LLC Invests $210,000 in Republic Services, Inc. (NYSE:RSG)

Welch & Forbes LLC bought a new position in shares of Republic Services, Inc. (NYSE:RSG) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,273 shares of the business services provider’s stock, valued at approximately $210,000.

Several other large investors have also recently added to or reduced their stakes in RSG. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Republic Services by 0.3% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,150 shares of the business services provider’s stock worth $4,147,000 after buying an additional 66 shares during the last quarter. Parcion Private Wealth LLC boosted its holdings in Republic Services by 0.3% in the fourth quarter. Parcion Private Wealth LLC now owns 23,808 shares of the business services provider’s stock valued at $3,926,000 after acquiring an additional 68 shares during the last quarter. Stokes Family Office LLC boosted its position in Republic Services by 2.2% during the third quarter. Stokes Family Office LLC now owns 3,209 shares of the business services provider’s stock valued at $457,000 after acquiring an additional 70 shares during the last quarter. WASHINGTON TRUST Co raised its holdings in shares of Republic Services by 4.5% during the fourth quarter. WASHINGTON TRUST Co now owns 1,620 shares of the business services provider’s stock valued at $267,000 after purchasing an additional 70 shares during the period. Finally, Greenleaf Trust increased its holdings in shares of Republic Services by 1.6% during the third quarter. Greenleaf Trust now owns 4,504 shares of the business services provider’s stock valued at $642,000 after acquiring an additional 72 shares in the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Stock Down 0.1 %

RSG stock traded down $0.11 during midday trading on Wednesday, hitting $188.45. The stock had a trading volume of 427,698 shares, compared to its average volume of 1,244,209. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.53 and a quick ratio of 0.53. The firm has a market cap of $59.35 billion, a price-to-earnings ratio of 33.08, a price-to-earnings-growth ratio of 3.22 and a beta of 0.67. The business has a 50-day moving average of $188.14 and a two-hundred day moving average of $172.87. Republic Services, Inc. has a 52-week low of $140.07 and a 52-week high of $196.76.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Tuesday, April 30th. The business services provider reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.10. The company had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.89 billion. Republic Services had a net margin of 11.81% and a return on equity of 17.56%. Republic Services’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the business earned $1.24 EPS. As a group, equities research analysts forecast that Republic Services, Inc. will post 6.05 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, July 2nd will be issued a $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 1.14%. The ex-dividend date is Tuesday, July 2nd. Republic Services’s dividend payout ratio (DPR) is 37.54%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wells Fargo & Company lifted their price target on Republic Services from $180.00 to $188.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. Citigroup boosted their target price on Republic Services from $190.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. UBS Group lifted their price target on Republic Services from $195.00 to $200.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Truist Financial increased their price objective on Republic Services from $175.00 to $192.00 and gave the company a “hold” rating in a research note on Wednesday, February 28th. Finally, BMO Capital Markets lifted their target price on shares of Republic Services from $173.00 to $195.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 28th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Republic Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.00.

Insider Activity

In related news, CEO Ark Jon Vander sold 5,446 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the sale, the chief executive officer now directly owns 85,113 shares of the company’s stock, valued at approximately $15,669,303.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Republic Services news, CMO Amanda Hodges sold 6,500 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the sale, the chief marketing officer now directly owns 6,831 shares in the company, valued at approximately $1,270,702.62. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ark Jon Vander sold 5,446 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $184.10, for a total value of $1,002,608.60. Following the completion of the transaction, the chief executive officer now owns 85,113 shares of the company’s stock, valued at approximately $15,669,303.30. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

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.