Buffington Mohr McNeal Purchases 6,230 Shares of Republic Services, Inc. (NYSE:RSG)

Buffington Mohr McNeal grew its position in shares of Republic Services, Inc. (NYSE:RSG) by 35.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,949 shares of the business services provider’s stock after purchasing an additional 6,230 shares during the quarter. Buffington Mohr McNeal’s holdings in Republic Services were worth $3,949,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of RSG. Norges Bank bought a new position in shares of Republic Services during the 4th quarter valued at about $258,032,000. JPMorgan Chase & Co. grew its position in Republic Services by 40.8% during the 1st quarter. JPMorgan Chase & Co. now owns 6,180,535 shares of the business services provider’s stock worth $835,731,000 after acquiring an additional 1,791,149 shares during the last quarter. Magellan Asset Management Ltd grew its position in Republic Services by 1,497,159.0% during the 3rd quarter. Magellan Asset Management Ltd now owns 913,328 shares of the business services provider’s stock worth $130,158,000 after acquiring an additional 913,267 shares during the last quarter. Goldman Sachs Group Inc. grew its position in 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 acquiring an additional 862,917 shares during the last quarter. Finally, FMR LLC grew its position in Republic Services by 34.4% during the 3rd quarter. FMR LLC now owns 2,202,405 shares of the business services provider’s stock worth $313,865,000 after acquiring an additional 563,761 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on RSG. The Goldman Sachs Group increased their price objective on Republic Services from $209.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday. Truist Financial raised their target price on Republic Services from $175.00 to $192.00 and gave the company a “hold” rating in a research note on Wednesday, February 28th. Morgan Stanley cut Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 target price for the company. in a research note on Friday, March 15th. BMO Capital Markets raised their target price on Republic Services from $173.00 to $195.00 and gave the company a “market perform” rating in a research note on Wednesday, February 28th. Finally, Royal Bank of Canada started coverage on Republic Services in a research note on Monday, April 8th. They issued a “sector perform” rating and a $198.00 target price for the company. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $199.77.

Insider Activity at Republic Services

In related news, CEO Ark Jon Vander sold 5,446 shares of Republic Services stock in a transaction on Monday, March 4th. The stock was sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the transaction, the chief executive officer now directly owns 85,113 shares in the company, valued at $15,669,303.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is owned by company insiders.

Republic Services Stock Performance

Shares of RSG traded up $0.71 during trading hours on Tuesday, hitting $187.95. The stock had a trading volume of 529,483 shares, compared to its average volume of 1,174,058. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. Republic Services, Inc. has a 12 month low of $135.33 and a 12 month high of $192.57. The firm has a market capitalization of $59.20 billion, a PE ratio of 34.52, a PEG ratio of 3.29 and a beta of 0.68. The stock has a fifty day moving average price of $184.72 and a 200 day moving average price of $167.88.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Tuesday, February 27th. The business services provider reported $1.41 EPS for the quarter, topping the consensus estimate of $1.28 by $0.13. Republic Services had a return on equity of 17.32% and a net margin of 11.57%. The company had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.73 billion. During the same quarter in the previous year, the company posted $1.13 earnings per share. Republic Services’s revenue was up 8.6% compared to the same quarter last year. Analysts anticipate that Republic Services, Inc. will post 6 EPS for the current year.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Tuesday, April 2nd were given a dividend of $0.535 per share. The ex-dividend date was Monday, April 1st. This represents a $2.14 annualized dividend and a yield of 1.14%. Republic Services’s dividend payout ratio (DPR) is presently 39.12%.

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.