Assetmark Inc. Buys 24,091 Shares of Republic Services, Inc. (NYSE:RSG)

Assetmark Inc. boosted its stake in shares of Republic Services, Inc. (NYSE:RSG) by 131.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,410 shares of the business services provider’s stock after acquiring an additional 24,091 shares during the period. Assetmark Inc.’s holdings in Republic Services were worth $8,532,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. FSA Wealth Management LLC acquired a new position in Republic Services in the third quarter valued at about $25,000. Arcadia Investment Management Corp MI increased its holdings in Republic Services by 200.0% in the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock valued at $27,000 after buying an additional 88 shares during the period. R Squared Ltd acquired a new position in shares of Republic Services in the 4th quarter valued at approximately $32,000. Truvestments Capital LLC bought a new stake in shares of Republic Services during the 3rd quarter worth approximately $34,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Republic Services during the 3rd quarter worth approximately $39,000. 57.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Republic Services

In other news, COO Gregg Brummer sold 6,293 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total value of $1,436,062.60. Following the transaction, the chief operating officer now directly owns 10,416 shares of the company’s stock, valued at $2,376,931.20. The trade was a 37.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.09% of the company’s stock.

Republic Services Stock Up 1.2 %

Shares of NYSE:RSG opened at $234.28 on Friday. The business has a fifty day simple moving average of $218.91 and a 200 day simple moving average of $210.80. Republic Services, Inc. has a 12-month low of $180.91 and a 12-month high of $240.95. The firm has a market cap of $73.16 billion, a P/E ratio of 36.10, a P/E/G ratio of 3.64 and a beta of 0.73. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04.

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, topping 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 return on equity of 18.28% and a net margin of 12.74%. During the same period in the previous year, the firm earned $1.41 earnings per share. Analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be issued a $0.58 dividend. The ex-dividend date is Wednesday, April 2nd. This represents a $2.32 annualized dividend and a yield of 0.99%. Republic Services’s payout ratio is 35.75%.

Wall Street Analyst Weigh In

RSG has been the subject of several recent analyst reports. Truist Financial restated a “buy” rating and set a $250.00 target price (up from $244.00) on shares of Republic Services in a research note on Friday, February 14th. Deutsche Bank Aktiengesellschaft raised Republic Services from a “hold” rating to a “buy” rating and raised their price objective for the company from $219.00 to $237.00 in a research note on Tuesday, December 10th. Argus set a $260.00 target price on Republic Services in a research note on Tuesday, February 18th. William Blair restated an “outperform” rating on shares of Republic Services in a research note on Friday, February 14th. Finally, Cibc World Mkts upgraded shares of Republic Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $236.88.

Republic Services Company 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.