Frazier Financial Advisors LLC Purchases New Position in Republic Services, Inc. (NYSE:RSG)

Frazier Financial Advisors LLC bought a new position in shares of Republic Services, Inc. (NYSE:RSG) during the 4th quarter, Holdings Channel reports. The firm bought 304 shares of the business services provider’s stock, valued at approximately $50,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RSG. Norges Bank acquired a new position in shares of Republic Services during the fourth quarter valued at $358,837,000. Magellan Asset Management Ltd boosted its position in shares of Republic Services by 1,497,159.0% in the 3rd quarter. Magellan Asset Management Ltd now owns 913,328 shares of the business services provider’s stock worth $130,158,000 after purchasing an additional 913,267 shares during the last quarter. FMR LLC grew its position in shares of Republic Services by 34.4% during the 3rd quarter. FMR LLC now owns 2,202,405 shares of the business services provider’s stock worth $313,865,000 after buying an additional 563,761 shares during the period. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of Republic Services during the fourth quarter worth $77,417,000. Finally, Envestnet Asset Management Inc. grew its stake in Republic Services by 50.9% in the third quarter. Envestnet Asset Management Inc. now owns 900,653 shares of the business services provider’s stock valued at $128,352,000 after acquiring an additional 303,754 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on RSG shares. Truist Financial upped their target price on shares of Republic Services from $175.00 to $192.00 and gave the stock a “hold” rating in a research note on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft initiated coverage on Republic Services in a report on Thursday. They set a “hold” rating and a $203.00 target price on the stock. Jefferies Financial Group upped their price objective on Republic Services from $213.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Royal Bank of Canada initiated coverage on shares of Republic Services in a research report on Monday, April 8th. They set a “sector perform” rating and a $198.00 price target on the stock. Finally, Scotiabank boosted their price objective on shares of Republic Services from $211.00 to $213.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 1st. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $201.14.

Insider Buying and Selling

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

Republic Services Price Performance

NYSE:RSG traded down $0.15 during trading hours on Thursday, hitting $186.62. The company’s stock had a trading volume of 165,479 shares, compared to its average volume of 1,199,027. 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 company has a market capitalization of $58.77 billion, a P/E ratio of 32.77, a PEG ratio of 3.01 and a beta of 0.67. Republic Services, Inc. has a twelve month low of $140.07 and a twelve month high of $196.76. The stock has a fifty day simple moving average of $188.80 and a 200-day simple moving average of $175.76.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, April 30th. The business services provider reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.10. The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.89 billion. Republic Services had a return on equity of 17.56% and a net margin of 11.81%. Republic Services’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the business posted $1.24 EPS. On average, analysts anticipate that Republic Services, Inc. will post 6.05 EPS for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, July 2nd will be issued a dividend of $0.535 per share. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a $2.14 dividend on an annualized basis and a yield of 1.15%. Republic Services’s payout ratio is currently 37.54%.

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.