Tower Wealth Partners Inc. Increases Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Tower Wealth Partners Inc. increased its stake in Republic Services, Inc. (NYSE:RSG) by 23.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,587 shares of the business services provider’s stock after buying an additional 301 shares during the quarter. Tower Wealth Partners Inc.’s holdings in Republic Services were worth $308,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Virtu Financial LLC bought a new stake in shares of Republic Services in the 2nd quarter worth about $1,705,000. Moors & Cabot Inc. raised its position in Republic Services by 23.3% in the 2nd quarter. Moors & Cabot Inc. now owns 6,576 shares of the business services provider’s stock worth $1,278,000 after purchasing an additional 1,241 shares during the period. Citizens Financial Group Inc. RI bought a new stake in Republic Services in the second quarter worth about $1,681,000. Rathbones Group PLC boosted its position in shares of Republic Services by 8.3% during the second quarter. Rathbones Group PLC now owns 84,716 shares of the business services provider’s stock valued at $16,464,000 after buying an additional 6,526 shares during the period. Finally, Thoroughbred Financial Services LLC bought a new position in shares of Republic Services during the second quarter valued at approximately $277,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RSG has been the subject of a number of recent analyst reports. Robert W. Baird boosted their price objective on Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Raymond James lowered their target price on shares of Republic Services from $219.00 to $214.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Oppenheimer reduced their price target on shares of Republic Services from $211.00 to $210.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft began coverage on shares of Republic Services in a research report on Thursday, May 23rd. They issued a “hold” rating and a $203.00 price objective for the company. Finally, CIBC raised their target price on shares of Republic Services from $196.00 to $208.00 and gave the stock 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $211.00.

Republic Services Stock Performance

Shares of Republic Services stock opened at $205.41 on Tuesday. Republic Services, Inc. has a one year low of $140.23 and a one year high of $208.69. The company has a market capitalization of $64.51 billion, a PE ratio of 36.04, a P/E/G ratio of 3.29 and a beta of 0.70. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.59 and a current ratio of 0.59. The company has a 50-day simple moving average of $202.04 and a two-hundred day simple moving average of $193.39.

Republic Services (NYSE:RSG) last posted its earnings results on Wednesday, July 24th. The business services provider reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.08. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. The company had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $4.03 billion. Research analysts expect that Republic Services, Inc. will post 6.18 EPS for the current fiscal year.

Republic Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd will be given a dividend of $0.58 per share. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. This represents a $2.32 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Wednesday, October 2nd. Republic Services’s dividend payout ratio is currently 37.54%.

Insider Buying and Selling at Republic Services

In other news, Director Tomago Collins sold 3,200 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $203.01, for a total transaction of $649,632.00. Following the sale, the director now owns 17,486 shares in the company, valued at $3,549,832.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is currently owned by company insiders.

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.