Cumberland Partners Ltd Buys 1,050 Shares of Republic Services, Inc. (NYSE:RSG)

Cumberland Partners Ltd boosted its position in shares of Republic Services, Inc. (NYSE:RSG) by 9.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,700 shares of the business services provider’s stock after buying an additional 1,050 shares during the quarter. Cumberland Partners Ltd’s holdings in Republic Services were worth $2,354,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bryn Mawr Capital Management LLC increased its position in Republic Services by 185.2% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 13,446 shares of the business services provider’s stock worth $2,705,000 after purchasing an additional 8,731 shares during the period. Financial Perspectives Inc grew its position in shares of Republic Services by 2,029.4% during the 4th quarter. Financial Perspectives Inc now owns 362 shares of the business services provider’s stock worth $73,000 after buying an additional 345 shares during the period. Bank of Jackson Hole Trust bought a new stake in shares of Republic Services during the 4th quarter valued at $48,000. Kentucky Retirement Systems Insurance Trust Fund lifted its stake in shares of Republic Services by 58.2% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,564 shares of the business services provider’s stock valued at $1,924,000 after purchasing an additional 3,520 shares during the period. Finally, Atria Wealth Solutions Inc. grew its stake in shares of Republic Services by 16.7% during the fourth quarter. Atria Wealth Solutions Inc. now owns 24,458 shares of the business services provider’s stock worth $4,920,000 after purchasing an additional 3,501 shares during the period. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Trading Up 0.5 %

Republic Services stock opened at $229.59 on Thursday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64. The firm has a 50-day moving average of $212.03 and a 200-day moving average of $208.11. The company has a market cap of $71.90 billion, a price-to-earnings ratio of 35.38, a P/E/G ratio of 3.33 and a beta of 0.74. Republic Services, Inc. has a one year low of $179.62 and a one year high of $232.52.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.21. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period in the prior year, the firm posted $1.41 earnings per share. On average, equities analysts expect that Republic Services, Inc. will post 6.89 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s dividend payout ratio is 35.75%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RSG. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and boosted their target price for the stock from $219.00 to $237.00 in a research report on Tuesday, December 10th. UBS Group increased their target price on shares of Republic Services from $212.00 to $240.00 and gave the stock a “neutral” rating in a report on Wednesday. Oppenheimer raised their price objective on Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. CIBC increased their price target on Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, Truist Financial reiterated a “buy” rating and set a $250.00 price objective (up previously from $244.00) on shares of Republic Services in a report on Friday, February 14th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Republic Services presently has an average rating of “Moderate Buy” and a consensus price target of $231.75.

Insider Activity at Republic Services

In other news, Director Katharine Weymouth sold 1,859 shares of Republic Services stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total value of $400,186.93. Following the transaction, the director now owns 879 shares in the company, valued at approximately $189,222.33. This trade represents a 67.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

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.