Republic Services, Inc. (NYSE:RSG) Shares Sold by Boston Financial Mangement LLC

Boston Financial Mangement LLC lessened its stake in Republic Services, Inc. (NYSE:RSG) by 0.6% in the second quarter, Holdings Channel reports. The fund owned 9,237 shares of the business services provider’s stock after selling 58 shares during the quarter. Boston Financial Mangement LLC’s holdings in Republic Services were worth $1,795,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Republic Services by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 18,254,878 shares of the business services provider’s stock worth $3,494,714,000 after acquiring an additional 101,518 shares during the period. Capital World Investors boosted its holdings in Republic Services by 20.5% in the 1st quarter. Capital World Investors now owns 7,909,008 shares of the business services provider’s stock worth $1,514,100,000 after acquiring an additional 1,346,588 shares during the period. Norges Bank purchased a new position in Republic Services in the 4th quarter worth approximately $358,837,000. TD Asset Management Inc boosted its holdings in Republic Services by 424.7% in the 1st quarter. TD Asset Management Inc now owns 1,722,107 shares of the business services provider’s stock worth $329,680,000 after acquiring an additional 1,393,918 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Republic Services by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,476,116 shares of the business services provider’s stock worth $286,868,000 after acquiring an additional 3,809 shares during the period. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Price Performance

NYSE:RSG opened at $208.21 on Friday. The business’s 50-day moving average price is $199.17 and its 200 day moving average price is $191.15. The firm has a market cap of $65.57 billion, a P/E ratio of 36.53, a PEG ratio of 3.26 and a beta of 0.69. Republic Services, Inc. has a 52-week low of $140.23 and a 52-week high of $208.69. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.05.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.08. The firm had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.03 billion. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. As a group, sell-side analysts predict that Republic Services, Inc. will post 6.18 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd will be paid a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 1.11%. This is a boost from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s dividend payout ratio (DPR) is currently 40.70%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on RSG shares. StockNews.com cut Republic Services from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Royal Bank of Canada increased their target price on Republic Services from $201.00 to $211.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Truist Financial upgraded Republic Services from a “hold” rating to a “buy” rating and increased their target price for the company from $192.00 to $220.00 in a research note on Thursday, July 11th. BMO Capital Markets increased their target price on Republic Services from $209.00 to $211.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Finally, Robert W. Baird upped their price target on Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $211.00.

Insider Buying and Selling at Republic Services

In related news, Director Tomago Collins sold 3,200 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $203.01, for a total transaction of $649,632.00. Following the transaction, the director now directly owns 17,486 shares of the company’s stock, valued at $3,549,832.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Tomago Collins sold 3,200 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $203.01, for a total value of $649,632.00. Following the completion of the sale, the director now directly owns 17,486 shares in the company, valued at $3,549,832.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Katharine Weymouth acquired 540 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were purchased at an average cost of $185.26 per share, with a total value of $100,040.40. Following the completion of the acquisition, the director now owns 540 shares in the company, valued at approximately $100,040.40. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.

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.