Republic Services, Inc. (NYSE:RSG) Shares Bought by J.Safra Asset Management Corp

J.Safra Asset Management Corp raised its position in shares of Republic Services, Inc. (NYSE:RSG) by 25.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,233 shares of the business services provider’s stock after purchasing an additional 254 shares during the period. J.Safra Asset Management Corp’s holdings in Republic Services were worth $248,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Janney Montgomery Scott LLC lifted its holdings in Republic Services by 1.3% in the third quarter. Janney Montgomery Scott LLC now owns 55,581 shares of the business services provider’s stock worth $11,163,000 after purchasing an additional 726 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in shares of Republic Services by 7.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 417,756 shares of the business services provider’s stock worth $83,902,000 after acquiring an additional 29,273 shares during the period. Intact Investment Management Inc. acquired a new stake in shares of Republic Services in the 3rd quarter worth approximately $72,000. National Pension Service lifted its stake in shares of Republic Services by 18.9% in the 3rd quarter. National Pension Service now owns 318,629 shares of the business services provider’s stock worth $63,993,000 after acquiring an additional 50,568 shares during the period. Finally, QRG Capital Management Inc. lifted its position in Republic Services by 77.0% in the third quarter. QRG Capital Management Inc. now owns 35,627 shares of the business services provider’s stock worth $7,155,000 after purchasing an additional 15,503 shares during the period. 57.73% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Republic Services

In other news, COO Gregg Brummer sold 6,293 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the transaction, the chief operating officer now owns 10,416 shares in the company, valued at approximately $2,376,931.20. This trade represents a 37.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Katharine Weymouth sold 1,859 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $215.27, for a total transaction of $400,186.93. Following the transaction, the director now owns 879 shares in the company, valued at $189,222.33. This represents a 67.90 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Republic Services Price Performance

NYSE RSG opened at $235.55 on Wednesday. The company has a 50 day simple moving average of $217.11 and a 200-day simple moving average of $210.28. 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 market capitalization of $73.56 billion, a price-to-earnings ratio of 36.29, a price-to-earnings-growth ratio of 3.64 and a beta of 0.74. Republic Services, Inc. has a 52-week low of $180.91 and a 52-week high of $240.95.

Republic Services (NYSE:RSG) last released its earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.21. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The company had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the prior year, the firm earned $1.41 EPS. Equities research analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services’s dividend payout ratio (DPR) is presently 35.75%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RSG. Truist Financial restated a “buy” rating and set a $250.00 price objective (up previously from $244.00) on shares of Republic Services in a research report on Friday, February 14th. Stifel Nicolaus lifted their price target on shares of Republic Services from $240.00 to $257.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. The Goldman Sachs Group increased their price objective on Republic Services from $239.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. CIBC upgraded Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 target price on the stock in a report on Tuesday. Finally, Royal Bank of Canada raised Republic Services from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $219.00 to $237.00 in a research report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Republic Services presently has an average rating of “Moderate Buy” and a consensus price target of $236.88.

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.