Stratos Wealth Partners LTD. Boosts Stock Position in Republic Services, Inc. (NYSE:RSG)

Stratos Wealth Partners LTD. lifted its stake in shares of Republic Services, Inc. (NYSE:RSG) by 1.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,284 shares of the business services provider’s stock after purchasing an additional 852 shares during the period. Stratos Wealth Partners LTD.’s holdings in Republic Services were worth $12,509,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the company. Aaron Wealth Advisors LLC boosted its stake in shares of Republic Services by 57.3% in the third quarter. Aaron Wealth Advisors LLC now owns 1,641 shares of the business services provider’s stock worth $330,000 after acquiring an additional 598 shares during the last quarter. V Square Quantitative Management LLC boosted its stake in Republic Services by 11.3% during the 3rd quarter. V Square Quantitative Management LLC now owns 2,843 shares of the business services provider’s stock worth $571,000 after purchasing an additional 288 shares during the last quarter. CHB Investment Group LLC purchased a new stake in shares of Republic Services during the third quarter worth $2,806,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Republic Services by 5.7% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 28,962 shares of the business services provider’s stock valued at $5,817,000 after buying an additional 1,569 shares during the last quarter. Finally, Heirloom Wealth Management lifted its stake in shares of Republic Services by 2.0% in the third quarter. Heirloom Wealth Management now owns 75,508 shares of the business services provider’s stock worth $15,165,000 after buying an additional 1,497 shares in the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Republic Services

In related news, Director Tomago Collins sold 3,200 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $203.01, for a total value of $649,632.00. Following the completion of the transaction, the director now directly owns 17,486 shares of the company’s stock, valued at $3,549,832.86. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Raymond James dropped their price objective on shares of Republic Services from $219.00 to $214.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. William Blair initiated coverage on Republic Services in a report on Thursday, October 3rd. They issued an “outperform” rating for the company. Oppenheimer lowered their price objective on Republic Services from $211.00 to $210.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Truist Financial raised shares of Republic Services from a “hold” rating to a “buy” rating and upped their price objective for the company from $192.00 to $220.00 in a report on Thursday, July 11th. Finally, TD Cowen raised their price target on shares of Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $211.65.

Republic Services Stock Performance

Shares of RSG opened at $204.73 on Friday. Republic Services, Inc. has a 1 year low of $142.65 and a 1 year high of $208.69. The stock has a market capitalization of $64.30 billion, a PE ratio of 34.29, a PEG ratio of 3.30 and a beta of 0.69. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a 50-day simple moving average of $203.92 and a 200-day simple moving average of $195.85.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.08. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. The company had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.03 billion. On average, analysts predict that Republic Services, Inc. will post 6.18 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 1.13%. This is an increase from Republic Services’s previous quarterly dividend of $0.54. The ex-dividend date was Wednesday, October 2nd. Republic Services’s payout ratio is 38.86%.

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.