Trueblood Wealth Management LLC Buys Shares of 7,739 Republic Services, Inc. (NYSE:RSG)

Trueblood Wealth Management LLC bought a new stake in Republic Services, Inc. (NYSE:RSG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,739 shares of the business services provider’s stock, valued at approximately $1,276,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Schechter Investment Advisors LLC boosted its stake in shares of Republic Services by 19.4% during the 3rd quarter. Schechter Investment Advisors LLC now owns 2,791 shares of the business services provider’s stock worth $398,000 after acquiring an additional 453 shares in the last quarter. Ossiam boosted its stake in shares of Republic Services by 41.8% during the 2nd quarter. Ossiam now owns 15,837 shares of the business services provider’s stock worth $2,426,000 after acquiring an additional 4,666 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Republic Services by 217.7% during the 4th quarter. SG Americas Securities LLC now owns 76,038 shares of the business services provider’s stock worth $12,539,000 after acquiring an additional 52,104 shares in the last quarter. Robeco Schweiz AG boosted its stake in shares of Republic Services by 65.9% during the 3rd quarter. Robeco Schweiz AG now owns 34,500 shares of the business services provider’s stock worth $4,917,000 after acquiring an additional 13,700 shares in the last quarter. Finally, Brookstone Capital Management boosted its stake in shares of Republic Services by 172.4% during the 3rd quarter. Brookstone Capital Management now owns 11,131 shares of the business services provider’s stock worth $1,623,000 after acquiring an additional 7,045 shares in the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Analyst Upgrades and Downgrades

RSG has been the subject of several recent analyst reports. BMO Capital Markets upped their price target on Republic Services from $173.00 to $195.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 28th. Jefferies Financial Group increased their target price on Republic Services from $213.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Morgan Stanley downgraded Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 target price for the company. in a research note on Friday, March 15th. Citigroup increased their target price on Republic Services from $190.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Finally, Truist Financial increased their target price on Republic Services from $175.00 to $192.00 and gave the company a “hold” rating in a research note on Wednesday, February 28th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $193.54.

Insider Activity at Republic Services

In related news, CEO Ark Jon Vander sold 5,446 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the completion of the sale, the chief executive officer now directly owns 85,113 shares of the company’s stock, valued at approximately $15,669,303.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.09% of the company’s stock.

Republic Services Stock Performance

Shares of RSG stock traded up $1.84 during mid-day trading on Wednesday, reaching $191.54. The stock had a trading volume of 1,228,285 shares, compared to its average volume of 1,182,555. The firm’s 50 day simple moving average is $179.51 and its 200 day simple moving average is $163.81. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. Republic Services, Inc. has a one year low of $130.34 and a one year high of $192.57. The firm has a market cap of $60.26 billion, a PE ratio of 35.01, a P/E/G ratio of 3.32 and a beta of 0.67.

Republic Services (NYSE:RSG) last posted its earnings results on Tuesday, February 27th. The business services provider reported $1.41 EPS for the quarter, topping the consensus estimate of $1.28 by $0.13. The business had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.73 billion. Republic Services had a return on equity of 17.32% and a net margin of 11.57%. Republic Services’s revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company earned $1.13 EPS. On average, analysts forecast that Republic Services, Inc. will post 6 EPS for the current year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Tuesday, April 2nd will be given a dividend of $0.535 per share. The ex-dividend date is Monday, April 1st. This represents a $2.14 annualized dividend and a dividend yield of 1.12%. Republic Services’s dividend payout ratio (DPR) is presently 39.12%.

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.