Newbridge Financial Services Group Inc. Buys New Holdings in Republic Services, Inc. (NYSE:RSG)

Newbridge Financial Services Group Inc. purchased a new stake in Republic Services, Inc. (NYSE:RSG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 879 shares of the business services provider’s stock, valued at approximately $177,000.

Other hedge funds also recently made changes to their positions in the company. FSA Wealth Management LLC acquired a new position in Republic Services in the third quarter worth about $25,000. Wolff Wiese Magana LLC boosted its stake in Republic Services by 351.6% in the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock valued at $28,000 after buying an additional 109 shares in the last quarter. Webster Bank N. A. bought a new stake in Republic Services in the third quarter valued at $31,000. R Squared Ltd bought a new position in shares of Republic Services during the fourth quarter valued at $32,000. Finally, Truvestments Capital LLC acquired a new stake in shares of Republic Services in the 3rd quarter valued at $34,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Analyst Ratings Changes

RSG has been the subject of several analyst reports. Jefferies Financial Group lifted their price target on shares of Republic Services from $235.00 to $244.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Truist Financial boosted their target price on Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. BMO Capital Markets upgraded Republic Services from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $211.00 to $238.00 in a research report on Friday, December 6th. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and increased their target price for the stock from $219.00 to $237.00 in a report on Tuesday, December 10th. Finally, Morgan Stanley upped their price target on shares of Republic Services from $217.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Six equities research 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.com, the company has an average rating of “Moderate Buy” and an average price target of $224.38.

Insider Activity

In other news, Director Katharine Weymouth sold 1,859 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $215.27, for a total transaction of $400,186.93. Following the sale, the director now owns 879 shares of the company’s stock, valued at $189,222.33. This trade represents a 67.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total value of $1,065,011.42. Following the completion of the transaction, the chief financial officer now owns 6,318 shares of the company’s stock, valued at $1,326,906.36. This represents a 44.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

Republic Services Stock Performance

RSG stock opened at $220.91 on Monday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. Republic Services, Inc. has a twelve month low of $171.06 and a twelve month high of $222.65. The business’s fifty day moving average is $210.01 and its 200-day moving average is $206.31. The company has a market cap of $69.18 billion, a P/E ratio of 35.35, a price-to-earnings-growth ratio of 3.24 and a beta of 0.74.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.05%. Republic Services’s payout ratio is currently 37.12%.

Republic Services Profile

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.