Republic Services, Inc. (NYSE:RSG) Shares Purchased by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC boosted its stake in shares of Republic Services, Inc. (NYSE:RSG) by 1.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 19,462 shares of the business services provider’s stock after acquiring an additional 193 shares during the period. Cornerstone Wealth Group LLC’s holdings in Republic Services were worth $3,909,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC raised its position in Republic Services by 351.6% during the third quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock worth $28,000 after acquiring an additional 109 shares during the period. EntryPoint Capital LLC acquired a new position in Republic Services during the first quarter worth $29,000. Webster Bank N. A. purchased a new stake in shares of Republic Services during the third quarter worth $31,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Republic Services during the second quarter worth $36,000. Finally, Indiana Trust & Investment Management CO purchased a new stake in shares of Republic Services during the second quarter worth $45,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Stock Down 2.7 %

Shares of NYSE:RSG opened at $198.76 on Thursday. The firm’s 50 day moving average price is $203.77 and its 200 day moving average price is $196.65. The stock has a market cap of $62.42 billion, a price-to-earnings ratio of 31.80, a price-to-earnings-growth ratio of 3.21 and a beta of 0.69. Republic Services, Inc. has a fifty-two week low of $146.82 and a fifty-two 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 announced its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.19. The business had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.12 billion. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the firm posted $1.54 earnings per share. As a group, equities research analysts predict that Republic Services, Inc. will post 6.18 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.17%. Republic Services’s dividend payout ratio (DPR) is presently 37.12%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RSG. Morgan Stanley upped their target price on shares of Republic Services from $208.00 to $217.00 and gave the stock an “equal weight” rating in a report on Wednesday. StockNews.com lowered shares of Republic Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Truist Financial upped their target price on shares of Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a report on Wednesday. Royal Bank of Canada upped their price objective on shares of Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a report on Wednesday. Finally, Raymond James dropped their price objective on shares of Republic Services from $219.00 to $214.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $215.71.

Insider Transactions at Republic Services

In other news, Director Tomago Collins sold 3,200 shares of the firm’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 in the company, valued at approximately $3,549,832.86. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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.