Bridgewater Advisors Inc. Makes New $765,000 Investment in Republic Services, Inc. (NYSE:RSG)

Bridgewater Advisors Inc. acquired a new stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,089 shares of the business services provider's stock, valued at approximately $765,000.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC raised its position in Republic Services by 75.8% during the 4th quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider's stock worth $3,988,000 after buying an additional 8,547 shares during the last quarter. HighTower Advisors LLC lifted its position in Republic Services by 0.4% during the fourth quarter. HighTower Advisors LLC now owns 27,461 shares of the business services provider's stock valued at $5,525,000 after purchasing an additional 102 shares during the period. Commonwealth Equity Services LLC grew its position in Republic Services by 28.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 45,684 shares of the business services provider's stock worth $9,191,000 after purchasing an additional 10,072 shares during the period. Natixis Advisors LLC lifted its holdings in shares of Republic Services by 6.9% in the 4th quarter. Natixis Advisors LLC now owns 141,764 shares of the business services provider's stock valued at $28,520,000 after buying an additional 9,124 shares during the period. Finally, Parallel Advisors LLC grew its holdings in Republic Services by 7.4% during the fourth quarter. Parallel Advisors LLC now owns 3,840 shares of the business services provider's stock worth $773,000 after acquiring an additional 264 shares during the period. Hedge funds and other institutional investors own 57.73% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Wall Street Zen lowered Republic Services from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Raymond James Financial restated an "outperform" rating on shares of Republic Services in a research report on Wednesday, April 16th. Melius initiated coverage on shares of Republic Services in a research report on Monday, June 9th. They issued a "hold" rating for the company. Scotiabank raised their target price on Republic Services from $233.00 to $250.00 and gave the company a "sector perform" rating in a research report on Tuesday, April 8th. Finally, Truist Financial upped their price target on Republic Services from $250.00 to $270.00 and gave the stock a "buy" rating in a report on Tuesday, April 22nd. Ten research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Republic Services presently has an average rating of "Moderate Buy" and an average price target of $255.21.

Republic Services Trading Down 0.5%

Shares of RSG traded down $1.21 during trading on Thursday, reaching $240.14. 1,010,388 shares of the company traded hands, compared to its average volume of 1,155,600. The stock has a 50-day simple moving average of $247.61 and a 200-day simple moving average of $235.40. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.10. Republic Services, Inc. has a twelve month low of $188.82 and a twelve month high of $258.75. The stock has a market cap of $75.04 billion, a PE ratio of 36.22, a price-to-earnings-growth ratio of 3.66 and a beta of 0.61.

Republic Services (NYSE:RSG - Get Free Report) last announced its earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.53 by $0.05. Republic Services had a return on equity of 18.28% and a net margin of 12.88%. The company had revenue of $4.01 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the previous year, the company earned $1.45 earnings per share. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. On average, analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 2nd were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend was Wednesday, July 2nd. Republic Services's dividend payout ratio (DPR) is 34.99%.

Republic Services 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.