Pinnacle Wealth Planning Services Inc. Takes Position in Republic Services, Inc. (NYSE:RSG)

Pinnacle Wealth Planning Services Inc. purchased a new stake in Republic Services, Inc. (NYSE:RSG) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,176 shares of the business services provider’s stock, valued at approximately $225,000.

Other large investors also recently bought and sold shares of the company. Capital Advisors Ltd. LLC grew its stake in shares of Republic Services by 2.9% during the 1st quarter. Capital Advisors Ltd. LLC now owns 1,903 shares of the business services provider’s stock worth $364,000 after purchasing an additional 54 shares during the period. Raleigh Capital Management Inc. lifted its holdings in shares of Republic Services by 19.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 357 shares of the business services provider’s stock worth $59,000 after acquiring an additional 59 shares during the period. ETF Store Inc. raised its holdings in Republic Services by 3.5% in the first quarter. ETF Store Inc. now owns 1,743 shares of the business services provider’s stock valued at $334,000 after buying an additional 59 shares during the period. Scotia Capital Inc. raised its holdings in Republic Services by 2.4% in the fourth quarter. Scotia Capital Inc. now owns 2,708 shares of the business services provider’s stock valued at $447,000 after buying an additional 64 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Republic Services by 0.3% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,150 shares of the business services provider’s stock valued at $4,147,000 after buying an additional 66 shares during the period. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Truist Financial upgraded shares of Republic Services from a “hold” rating to a “buy” rating and raised their price target for the company from $192.00 to $220.00 in a report on Thursday, July 11th. StockNews.com upgraded shares of Republic Services from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 16th. The Goldman Sachs Group lifted their price objective on shares of Republic Services from $209.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. UBS Group lifted their price objective on shares of Republic Services from $195.00 to $200.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Finally, Royal Bank of Canada started coverage on shares of Republic Services in a report on Monday, April 8th. They issued a “sector perform” rating and a $198.00 price objective for the company. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $203.64.

Insider Buying and Selling

In related news, CMO Amanda Hodges sold 6,500 shares of Republic Services stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $186.02, for a total value of $1,209,130.00. Following the transaction, the chief marketing officer now owns 6,831 shares of the company’s stock, valued at approximately $1,270,702.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Republic Services news, CMO Amanda Hodges sold 6,500 shares of Republic Services stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the transaction, the chief marketing officer now owns 6,831 shares of the company’s stock, valued at approximately $1,270,702.62. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Katharine Weymouth bought 540 shares of the stock in a transaction on Tuesday, June 4th. The shares were acquired at an average cost of $185.26 per share, for a total transaction of $100,040.40. Following the purchase, the director now owns 540 shares in the company, valued at $100,040.40. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by company insiders.

Republic Services Price Performance

Republic Services stock traded down $1.11 during midday trading on Friday, hitting $203.46. The company’s stock had a trading volume of 1,141,994 shares, compared to its average volume of 1,244,342. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.05. The stock’s 50-day moving average price is $191.34 and its 200-day moving average price is $184.86. Republic Services, Inc. has a 12 month low of $140.23 and a 12 month high of $206.54. The company has a market capitalization of $64.08 billion, a PE ratio of 35.69, a price-to-earnings-growth ratio of 3.42 and a beta of 0.69.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Tuesday, April 30th. The business services provider reported $1.45 EPS for the quarter, topping the consensus estimate of $1.35 by $0.10. Republic Services had a net margin of 11.81% and a return on equity of 17.56%. The firm had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the previous year, the business earned $1.24 earnings per share. Republic Services’s revenue for the quarter was up 7.8% compared to the same quarter last year. Analysts anticipate that Republic Services, Inc. will post 6.05 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Tuesday, July 2nd were paid a $0.535 dividend. The ex-dividend date of this dividend was Tuesday, July 2nd. This represents a $2.14 dividend on an annualized basis and a yield of 1.05%. Republic Services’s dividend payout ratio is currently 37.54%.

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.