Trueblood Wealth Management LLC Takes $1.28 Million Position in Republic Services, Inc. (NYSE:RSG)

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

Other hedge funds have also modified their holdings of the company. FinTrust Capital Advisors LLC increased its position in Republic Services by 56.3% during the third quarter. FinTrust Capital Advisors LLC now owns 197 shares of the business services provider’s stock worth $28,000 after purchasing an additional 71 shares during the last quarter. BKM Wealth Management LLC acquired a new stake in Republic Services during the fourth quarter worth about $37,000. Bruce G. Allen Investments LLC acquired a new stake in Republic Services during the fourth quarter worth about $41,000. Strategic Investment Solutions Inc. IL acquired a new stake in Republic Services during the first quarter worth about $34,000. Finally, Millburn Ridgefield Corp acquired a new stake in Republic Services during the third quarter worth about $36,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Republic Services news, CEO Ark Jon Vander sold 5,446 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $15,669,303.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Republic Services Price Performance

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

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

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders 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 dividend on an annualized basis and a yield of 1.12%. Republic Services’s payout ratio is presently 39.12%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on RSG shares. Truist Financial increased their target price on shares of Republic Services from $175.00 to $192.00 and gave the stock a “hold” rating in a research note on Wednesday, February 28th. Stifel Nicolaus lifted their price target on shares of Republic Services from $175.00 to $187.00 and gave the stock a “buy” rating in a research note on Tuesday, December 19th. UBS Group downgraded shares of Republic Services from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $175.00 to $195.00 in a research note on Thursday, February 29th. Citigroup lifted their price target on shares of Republic Services from $190.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Finally, Wells Fargo & Company raised their price objective on shares of Republic Services from $180.00 to $188.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $193.54.

About Republic Services

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.