Prosperity Financial Group Inc. Purchases 350 Shares of Republic Services, Inc. (NYSE:RSG)

Prosperity Financial Group Inc. boosted its stake in Republic Services, Inc. (NYSE:RSG) by 9.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,888 shares of the business services provider’s stock after purchasing an additional 350 shares during the period. Prosperity Financial Group Inc.’s holdings in Republic Services were worth $782,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. CWA Asset Management Group LLC purchased a new position in shares of Republic Services during the third quarter valued at approximately $345,000. Assetmark Inc. boosted its holdings in Republic Services by 8.2% in the third quarter. Assetmark Inc. now owns 18,319 shares of the business services provider’s stock worth $3,679,000 after acquiring an additional 1,394 shares in the last quarter. Atria Investments Inc lifted its holdings in shares of Republic Services by 7.8% during the third quarter. Atria Investments Inc now owns 12,179 shares of the business services provider’s stock valued at $2,446,000 after purchasing an additional 881 shares in the last quarter. Mesirow Financial Investment Management Inc. bought a new position in shares of Republic Services during the third quarter valued at $273,000. Finally, Sigma Planning Corp lifted its holdings in shares of Republic Services by 34.9% during the third quarter. Sigma Planning Corp now owns 5,270 shares of the business services provider’s stock valued at $1,058,000 after purchasing an additional 1,364 shares in the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RSG has been the topic of a number of research analyst reports. CIBC raised Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 price target on the stock in a report on Tuesday, March 4th. Truist Financial reiterated a “buy” rating and set a $250.00 price objective (up previously from $244.00) on shares of Republic Services in a research report on Friday, February 14th. Argus set a $260.00 price objective on Republic Services in a research report on Tuesday, February 18th. UBS Group upped their price objective on Republic Services from $212.00 to $240.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Finally, William Blair reiterated an “outperform” rating on shares of Republic Services in a research report on Friday, February 14th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong 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 $236.88.

Insider Activity at Republic Services

In other news, COO Gregg Brummer sold 6,293 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total value of $1,436,062.60. Following the completion of the sale, the chief operating officer now directly owns 10,416 shares of the company’s stock, valued at $2,376,931.20. This trade represents a 37.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is owned by corporate insiders.

Republic Services Stock Performance

NYSE:RSG opened at $231.92 on Wednesday. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a 12-month low of $180.91 and a 12-month high of $240.95. The stock has a 50-day moving average price of $220.16 and a 200 day moving average price of $211.24. The stock has a market capitalization of $72.43 billion, a P/E ratio of 35.74, a P/E/G ratio of 3.64 and a beta of 0.73.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.21. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The company had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same period in the prior year, the company earned $1.41 earnings per share. Equities research analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s payout ratio is presently 35.75%.

About Republic Services

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.