Alliance Wealth Advisors LLC UT boosted its position in Republic Services, Inc. (NYSE:RSG – Free Report) by 4.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,015 shares of the business services provider’s stock after purchasing an additional 866 shares during the period. Republic Services comprises approximately 1.0% of Alliance Wealth Advisors LLC UT’s holdings, making the stock its 27th largest position. Alliance Wealth Advisors LLC UT’s holdings in Republic Services were worth $2,710,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Republic Services in the 4th quarter valued at approximately $258,032,000. JPMorgan Chase & Co. lifted its holdings in Republic Services by 40.8% in the first quarter. JPMorgan Chase & Co. now owns 6,180,535 shares of the business services provider’s stock valued at $835,731,000 after acquiring an additional 1,791,149 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Republic Services by 59.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,317,702 shares of the business services provider’s stock worth $355,002,000 after purchasing an additional 862,917 shares in the last quarter. Invesco Ltd. grew its stake in shares of Republic Services by 18.4% during the 1st quarter. Invesco Ltd. now owns 2,723,076 shares of the business services provider’s stock worth $360,808,000 after purchasing an additional 422,281 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Republic Services by 1,185.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 455,412 shares of the business services provider’s stock valued at $61,581,000 after purchasing an additional 419,979 shares during the period. Hedge funds and other institutional investors own 57.23% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on RSG. Citigroup increased their target price on shares of Republic Services from $178.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, January 18th. Oppenheimer lifted their price objective on Republic Services from $172.00 to $182.00 and gave the stock an “outperform” rating in a report on Friday, January 12th. Wells Fargo & Company increased their price target on shares of Republic Services from $180.00 to $188.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. Stifel Nicolaus lifted their price objective on Republic Services from $175.00 to $187.00 and gave the stock a “buy” rating in a research report on Tuesday, December 19th. Finally, Wolfe Research started coverage on Republic Services in a report on Tuesday, October 17th. They set a “peer perform” rating on the stock. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Republic Services presently has an average rating of “Moderate Buy” and an average target price of $169.33.
Republic Services Price Performance
RSG opened at $173.49 on Monday. The company has a 50 day moving average of $166.41 and a two-hundred day moving average of $155.52. Republic Services, Inc. has a 52-week low of $124.27 and a 52-week high of $175.35. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.06. The company has a market cap of $54.59 billion, a P/E ratio of 33.56, a P/E/G ratio of 2.89 and a beta of 0.67.
Republic Services Announces Dividend
The business 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 $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 1.23%. The ex-dividend date is Monday, April 1st. Republic Services’s dividend payout ratio (DPR) is presently 41.39%.
Republic Services announced that its board has initiated a share repurchase plan on Thursday, October 26th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the business services provider to buy up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
Republic Services Profile
Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States. 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.
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