Brighton Jones LLC Has $6.55 Million Position in Republic Services, Inc. (NYSE:RSG)

Brighton Jones LLC boosted its stake in shares of Republic Services, Inc. (NYSE:RSG) by 0.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,691 shares of the business services provider’s stock after purchasing an additional 127 shares during the quarter. Brighton Jones LLC’s holdings in Republic Services were worth $6,545,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Magellan Asset Management Ltd boosted its position in shares of Republic Services by 1,497,159.0% in the third quarter. Magellan Asset Management Ltd now owns 913,328 shares of the business services provider’s stock valued at $130,158,000 after acquiring an additional 913,267 shares during the period. FMR LLC increased its holdings in shares of Republic Services by 34.4% during the third quarter. FMR LLC now owns 2,202,405 shares of the business services provider’s stock worth $313,865,000 after purchasing an additional 563,761 shares during the period. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Republic Services in the fourth quarter valued at approximately $77,417,000. Envestnet Asset Management Inc. boosted its stake in shares of Republic Services by 50.9% in the third quarter. Envestnet Asset Management Inc. now owns 900,653 shares of the business services provider’s stock valued at $128,352,000 after buying an additional 303,754 shares during the period. Finally, Panagora Asset Management Inc. increased its stake in Republic Services by 1,383.0% during the 3rd quarter. Panagora Asset Management Inc. now owns 241,098 shares of the business services provider’s stock worth $34,359,000 after acquiring an additional 224,841 shares during the period. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on RSG shares. Citigroup increased their target price on Republic Services from $190.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. The Goldman Sachs Group boosted their target price on shares of Republic Services from $209.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Royal Bank of Canada started coverage on shares of Republic Services in a research report on Monday, April 8th. They set a “sector perform” rating and a $198.00 price target on the stock. 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. Finally, Truist Financial lifted their price target on Republic Services from $175.00 to $192.00 and gave the company a “hold” rating in a research note on Wednesday, February 28th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Republic Services has an average rating of “Moderate Buy” and an average price target of $199.77.

Insider Transactions at Republic Services

In other Republic Services news, CEO Ark Jon Vander sold 5,446 shares of Republic Services stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $184.10, for a total value of $1,002,608.60. Following the sale, the chief executive officer now owns 85,113 shares of the company’s stock, valued at $15,669,303.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.09% of the company’s stock.

Republic Services Stock Down 0.9 %

NYSE:RSG traded down $1.71 during trading hours on Tuesday, hitting $191.70. 2,045,527 shares of the company traded hands, compared to its average volume of 1,223,444. Republic Services, Inc. has a one year low of $140.07 and a one year high of $196.76. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. The company has a market cap of $60.38 billion, a PE ratio of 35.12, a PEG ratio of 3.36 and a beta of 0.68. The firm’s 50-day simple moving average is $187.62 and its 200-day simple moving average is $171.16.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Tuesday, April 30th. The business services provider reported $1.45 EPS for the quarter, beating the consensus estimate of $1.35 by $0.10. The firm had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.89 billion. Republic Services had a net margin of 11.57% and a return on equity of 17.32%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the business posted $1.24 EPS. Equities analysts predict that Republic Services, Inc. will post 6.01 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, July 2nd will be given a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Tuesday, July 2nd. Republic Services’s dividend payout ratio 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.