Cary Street Partners Financial LLC Invests $651,000 in Republic Services, Inc. (NYSE:RSG)

Cary Street Partners Financial LLC purchased a new position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,235 shares of the business services provider's stock, valued at approximately $651,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RSG. Barclays PLC increased its position in Republic Services by 11.0% during the 3rd quarter. Barclays PLC now owns 675,163 shares of the business services provider's stock worth $135,598,000 after purchasing an additional 66,842 shares during the period. Diversified Trust Co grew its holdings in Republic Services by 12.1% during the fourth quarter. Diversified Trust Co now owns 1,537 shares of the business services provider's stock worth $309,000 after acquiring an additional 166 shares during the period. Graypoint LLC lifted its holdings in Republic Services by 4.7% in the fourth quarter. Graypoint LLC now owns 1,525 shares of the business services provider's stock valued at $307,000 after acquiring an additional 68 shares during the period. Czech National Bank boosted its position in shares of Republic Services by 6.1% during the 4th quarter. Czech National Bank now owns 44,134 shares of the business services provider's stock worth $8,879,000 after purchasing an additional 2,548 shares in the last quarter. Finally, Fiduciary Alliance LLC grew its stake in shares of Republic Services by 0.8% during the 4th quarter. Fiduciary Alliance LLC now owns 41,547 shares of the business services provider's stock worth $8,358,000 after purchasing an additional 318 shares during the period. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. William Blair reissued an "outperform" rating on shares of Republic Services in a report on Friday, April 25th. Truist Financial upped their target price on Republic Services from $250.00 to $270.00 and gave the company a "buy" rating in a research note on Tuesday, April 22nd. The Goldman Sachs Group lifted their price target on shares of Republic Services from $239.00 to $265.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. CIBC raised shares of Republic Services from a "neutral" rating to a "sector outperform" rating and set a $264.00 price objective on the stock in a research note on Tuesday, March 4th. Finally, UBS Group boosted their price target on Republic Services from $240.00 to $250.00 and gave the company a "neutral" rating in a report on Friday, April 11th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $249.00.

Republic Services Stock Down 0.3 %

Shares of NYSE:RSG traded down $0.77 during midday trading on Friday, hitting $248.56. 794,226 shares of the company's stock traded hands, compared to its average volume of 1,098,439. Republic Services, Inc. has a twelve month low of $180.92 and a twelve month high of $253.54. The company has a market cap of $77.67 billion, a PE ratio of 38.30, a P/E/G ratio of 3.64 and a beta of 0.66. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. The firm's fifty day moving average price is $240.12 and its two-hundred day moving average price is $222.83.

Republic Services (NYSE:RSG - Get Free Report) last issued its earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.05. The company had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The company's revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.45 earnings per share. On average, equities research analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Wednesday, July 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Wednesday, July 2nd. Republic Services's payout ratio is 34.99%.

Insiders Place Their Bets

In other news, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the sale, the chief operating officer now directly owns 10,416 shares of the company's stock, valued at approximately $2,376,931.20. The trade was a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.11% of the stock is currently owned by company insiders.

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.