New Jersey Better Educational Savings Trust Makes New Investment in Republic Services, Inc. (NYSE:RSG)

New Jersey Better Educational Savings Trust purchased a new stake in shares of Republic Services, Inc. (NYSE:RSG) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,400 shares of the business services provider’s stock, valued at approximately $231,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Syon Capital LLC lifted its position in Republic Services by 7.2% in the fourth quarter. Syon Capital LLC now owns 2,367 shares of the business services provider’s stock valued at $390,000 after buying an additional 158 shares during the last quarter. Sycomore Asset Management increased its stake in Republic Services by 44.8% during the fourth quarter. Sycomore Asset Management now owns 21,657 shares of the business services provider’s stock worth $3,547,000 after purchasing an additional 6,699 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its stake in Republic Services by 11.4% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,924 shares of the business services provider’s stock worth $812,000 after purchasing an additional 502 shares during the period. Atria Wealth Solutions Inc. increased its stake in Republic Services by 10.6% during the fourth quarter. Atria Wealth Solutions Inc. now owns 17,557 shares of the business services provider’s stock worth $2,902,000 after purchasing an additional 1,680 shares during the period. Finally, Capital Advisors Ltd. LLC increased its stake in Republic Services by 4.9% during the fourth quarter. Capital Advisors Ltd. LLC now owns 1,849 shares of the business services provider’s stock worth $305,000 after purchasing an additional 87 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Price Performance

NYSE:RSG traded up $1.53 during trading hours on Thursday, hitting $193.52. The company’s stock had a trading volume of 1,358,375 shares, compared to its average volume of 1,205,295. Republic Services, Inc. has a 52-week low of $135.33 and a 52-week high of $193.82. The company has a market capitalization of $60.95 billion, a PE ratio of 34.69, a PEG ratio of 3.33 and a beta of 0.68. The business’s 50-day moving average is $186.86 and its two-hundred day moving average is $170.01. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Tuesday, February 27th. The business services provider reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.13. The business had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.73 billion. Republic Services had a return on equity of 17.32% and a net margin of 11.57%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted $1.13 earnings per share. As a group, research analysts anticipate that Republic Services, Inc. will post 6.01 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Tuesday, April 2nd were paid a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 1.11%. The ex-dividend date was Monday, April 1st. Republic Services’s dividend payout ratio is currently 39.12%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RSG shares. BMO Capital Markets upped their target price on shares of Republic Services from $173.00 to $195.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 28th. Citigroup upped their target price on shares of Republic Services from $190.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Morgan Stanley lowered shares of Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 price target on the stock. in a research note on Friday, March 15th. Truist Financial increased their price target on shares of Republic Services from $175.00 to $192.00 and gave the company a “hold” rating in a research note on Wednesday, February 28th. Finally, Jefferies Financial Group increased their price target on shares of Republic Services from $213.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Republic Services has an average rating of “Moderate Buy” and a consensus price target of $199.77.

Insider Buying and Selling

In other Republic Services news, CEO Ark Jon Vander sold 5,446 shares of Republic Services stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the sale, the chief executive officer now directly owns 85,113 shares in the company, valued at approximately $15,669,303.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is currently owned by corporate 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.