Republic Services, Inc. (NYSE:RSG) Shares Bought by Prosperity Financial Group Inc.

Prosperity Financial Group Inc. grew its position in Republic Services, Inc. (NYSE:RSG) by 8.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,538 shares of the business services provider’s stock after acquiring an additional 264 shares during the quarter. Prosperity Financial Group Inc.’s holdings in Republic Services were worth $711,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its stake in Republic Services by 2.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,520,738 shares of the business services provider’s stock worth $506,265,000 after purchasing an additional 57,040 shares during the last quarter. Legal & General Group Plc grew its stake in Republic Services by 5.4% during the 2nd quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider’s stock valued at $351,480,000 after acquiring an additional 92,013 shares in the last quarter. TD Asset Management Inc raised its holdings in Republic Services by 2.1% in the 2nd quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider’s stock valued at $341,602,000 after acquiring an additional 35,650 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Republic Services by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,476,116 shares of the business services provider’s stock worth $286,868,000 after purchasing an additional 3,809 shares in the last quarter. Finally, Earnest Partners LLC boosted its holdings in shares of Republic Services by 1.9% during the 2nd quarter. Earnest Partners LLC now owns 1,286,053 shares of the business services provider’s stock worth $249,932,000 after purchasing an additional 23,534 shares during the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. CIBC lifted their price objective on Republic Services from $208.00 to $217.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Royal Bank of Canada boosted their price target on shares of Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Morgan Stanley raised their price objective on shares of Republic Services from $208.00 to $217.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Truist Financial boosted their target price on shares of Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Oppenheimer lifted their price target on shares of Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $215.71.

Republic Services Stock Up 1.3 %

Shares of RSG opened at $216.79 on Monday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a market capitalization of $67.89 billion, a PE ratio of 34.69, a P/E/G ratio of 3.31 and a beta of 0.70. The company’s 50-day simple moving average is $204.56 and its 200-day simple moving average is $199.01. Republic Services, Inc. has a 1 year low of $159.10 and a 1 year high of $216.86.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.61 by $0.20. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The company had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter last year, the company posted $1.54 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. Analysts forecast that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.58 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 annualized dividend and a yield of 1.07%. Republic Services’s dividend payout ratio (DPR) is 37.12%.

Insider Buying and Selling at Republic Services

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total value of $1,065,011.42. Following the sale, the chief financial officer now directly owns 6,318 shares of the company’s stock, valued at approximately $1,326,906.36. This represents a 44.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.09% of the stock is owned by corporate 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.