11,382 Shares in Republic Services, Inc. $RSG Purchased by SVB Wealth LLC

SVB Wealth LLC acquired a new stake in shares of Republic Services, Inc. (NYSE:RSG) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,382 shares of the business services provider’s stock, valued at approximately $2,389,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RSG. BlackRock Inc. acquired a new position in shares of Republic Services during the 2nd quarter worth $3,798,092,000. State Street Corp boosted its stake in Republic Services by 1.6% in the second quarter. State Street Corp now owns 9,953,507 shares of the business services provider’s stock valued at $2,120,893,000 after buying an additional 160,051 shares in the last quarter. Bank of America Corp DE acquired a new stake in Republic Services in the second quarter valued at about $682,573,000. Pictet Asset Management Holding SA grew its position in Republic Services by 14.0% in the third quarter. Pictet Asset Management Holding SA now owns 2,814,825 shares of the business services provider’s stock valued at $590,761,000 after acquiring an additional 345,719 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Republic Services by 68.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,256,190 shares of the business services provider’s stock valued at $497,828,000 after acquiring an additional 913,249 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors.

Trending Headlines about Republic Services

Here are a few of the latest headlines about RSG:

• Positive Sentiment: Argus upgraded RSG to Buy from Hold and set a $275 price target, pointing to earnings growth. Republic Services upgraded by Argus on earnings growth
• Positive Sentiment: JPMorgan raised its rating to Overweight from Neutral and increased its price target to $295 from $265, signaling greater confidence in RSG’s potential. JPMorgan upgrades Republic Services
• Neutral Sentiment: Republic Services shared consumer recycling tips ahead of America Recycles Day. The outreach supports its environmental-services profile but does not indicate a material financial development. Republic Services shares recycling tips

Insiders Place Their Bets

In related news, EVP Brian Bales sold 3,400 shares of the stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $244.00, for a total value of $829,600.00. Following the completion of the sale, the executive vice president directly owned 17,616 shares in the company, valued at $4,298,304. This represents a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Cascade Investment, L.L.C. bought 324,810 shares of the stock in a transaction that occurred on Friday, September 11th. The shares were bought at an average cost of $222.89 per share, with a total value of $72,396,900.90. Following the completion of the transaction, the insider owned 117,058,444 shares in the company, valued at $26,091,156,583.16. The trade was a 0.28% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 5,240,588 shares of company stock valued at $1,161,649,826 over the last 90 days. 0.12% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on the company. Barclays boosted their target price on Republic Services from $240.00 to $254.00 and gave the stock an “equal weight” rating in a research note on Monday, November 2nd. Weiss Ratings raised shares of Republic Services from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday. BMO Capital Markets set a $244.00 price target on shares of Republic Services in a report on Thursday, October 15th. Wells Fargo & Company upped their price objective on shares of Republic Services from $234.00 to $270.00 and gave the stock an “overweight” rating in a research report on Monday, November 2nd. Finally, The Goldman Sachs Group dropped their price objective on shares of Republic Services from $256.00 to $246.00 and set a “buy” rating for the company in a research note on Friday, October 2nd. Fourteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $252.10.

Republic Services Stock Up 1.4%

Shares of NYSE RSG opened at $252.95 on Friday. The company has a 50 day simple moving average of $227.08 and a 200 day simple moving average of $218.34. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.75 and a quick ratio of 0.75. Republic Services, Inc. has a 1 year low of $196.41 and a 1 year high of $254.39. The firm has a market cap of $77.06 billion, a PE ratio of 34.99, a price-to-earnings-growth ratio of 4.14 and a beta of 0.32.

Republic Services (NYSE:RSG) last posted its earnings results on Thursday, October 29th. The business services provider reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.01. The firm had revenue of $4.56 billion for the quarter, compared to analyst estimates of $4.42 billion. Republic Services had a net margin of 12.93% and a return on equity of 18.56%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.90 EPS. On average, research analysts forecast that Republic Services, Inc. will post 7.27 EPS for the current year.

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Monday, January 4th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Monday, January 4th. This represents a $2.68 annualized dividend and a dividend yield of 1.1%. Republic Services’s payout ratio is currently 37.07%.

About Republic Services

Republic Services, Inc. provides waste collection, recycling and environmental services to residential, commercial, industrial and municipal customers across the United States. Its services include collecting and transporting waste, operating transfer stations and landfills, and processing recyclable materials. The company also provides environmental solutions, including services for the management and disposal of hazardous and other specialized waste. Republic Services traces its origins to the 1990s and expanded its operations through the 2008 combination with Allied Waste Industries.