Cetera Advisor Networks LLC grew its position in shares of Republic Services, Inc. (NYSE:RSG – Free Report) by 1.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,330 shares of the business services provider’s stock after acquiring an additional 419 shares during the quarter. Cetera Advisor Networks LLC’s holdings in Republic Services were worth $4,186,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in RSG. Bangor Savings Bank boosted its holdings in shares of Republic Services by 210.5% in the 2nd quarter. Bangor Savings Bank now owns 177 shares of the business services provider’s stock valued at $27,000 after buying an additional 120 shares during the last quarter. Horizons Wealth Management acquired a new stake in shares of Republic Services in the 2nd quarter valued at approximately $31,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Republic Services in the 1st quarter valued at approximately $34,000. TCI Wealth Advisors Inc. boosted its holdings in shares of Republic Services by 242.7% in the 1st quarter. TCI Wealth Advisors Inc. now owns 281 shares of the business services provider’s stock valued at $38,000 after buying an additional 199 shares during the last quarter. Finally, Colonial Trust Co SC boosted its holdings in shares of Republic Services by 147.4% in the 1st quarter. Colonial Trust Co SC now owns 282 shares of the business services provider’s stock valued at $38,000 after buying an additional 168 shares during the last quarter. Institutional investors and hedge funds own 57.23% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the company. UBS Group raised Republic Services from a “neutral” rating to a “buy” rating and increased their price objective for the company from $155.00 to $175.00 in a report on Monday, October 23rd. StockNews.com started coverage on Republic Services in a report on Thursday, October 5th. They set a “buy” rating for the company. Truist Financial raised their price target on Republic Services from $146.00 to $155.00 and gave the company a “hold” rating in a report on Wednesday, August 2nd. Royal Bank of Canada raised their price target on Republic Services from $163.00 to $166.00 and gave the company a “sector perform” rating in a report on Monday, October 2nd. Finally, Citigroup increased their price objective on Republic Services from $177.00 to $178.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $160.36.
Republic Services Stock Up 0.5 %
Shares of NYSE RSG opened at $159.50 on Tuesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.58 and a current ratio of 0.58. Republic Services, Inc. has a 52 week low of $120.58 and a 52 week high of $160.04. The stock has a market capitalization of $50.19 billion, a P/E ratio of 30.85, a PEG ratio of 2.91 and a beta of 0.67. The stock’s fifty day moving average is $149.11 and its 200 day moving average is $147.87.
Republic Services (NYSE:RSG – Get Free Report) last released its quarterly earnings data on Thursday, October 26th. The business services provider reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.13. The business had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.81 billion. Republic Services had a return on equity of 16.81% and a net margin of 11.17%. Republic Services’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the firm posted $1.34 earnings per share. Sell-side analysts forecast that Republic Services, Inc. will post 5.47 earnings per share for the current fiscal year.
Republic Services Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be paid a $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 1.34%. The ex-dividend date is Friday, December 29th. Republic Services’s dividend payout ratio (DPR) is presently 41.39%.
Republic Services announced that its board has authorized a stock repurchase plan on Thursday, October 26th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the business services provider to purchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
About Republic Services
Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States. 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.
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