Hennion & Walsh Asset Management Inc. Acquires 548 Shares of Republic Services, Inc. (NYSE:RSG)

Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 5.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,591 shares of the business services provider’s stock after purchasing an additional 548 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Republic Services were worth $2,058,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in RSG. RFG Advisory LLC raised its position in Republic Services by 0.5% during the 2nd quarter. RFG Advisory LLC now owns 10,603 shares of the business services provider’s stock valued at $2,061,000 after purchasing an additional 53 shares in the last quarter. Capital Advisors Ltd. LLC increased its holdings in shares of Republic Services by 2.9% during the first quarter. Capital Advisors Ltd. LLC now owns 1,903 shares of the business services provider’s stock valued at $364,000 after acquiring an additional 54 shares in the last quarter. Hexagon Capital Partners LLC boosted its position in Republic Services by 4.0% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,433 shares of the business services provider’s stock worth $278,000 after purchasing an additional 55 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Republic Services by 1.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,917 shares of the business services provider’s stock valued at $956,000 after buying an additional 57 shares in the last quarter. Finally, Raleigh Capital Management Inc. increased its stake in shares of Republic Services by 19.8% in the 4th quarter. Raleigh Capital Management Inc. now owns 357 shares of the business services provider’s stock worth $59,000 after acquiring an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Analysts Set New Price Targets

RSG has been the subject of several recent analyst reports. Raymond James decreased their target price on Republic Services from $219.00 to $214.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. CIBC lifted their price target on Republic Services from $196.00 to $208.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. BMO Capital Markets lifted their price target on Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Truist Financial raised Republic Services from a “hold” rating to a “buy” rating and lifted their price target for the stock from $192.00 to $220.00 in a research report on Thursday, July 11th. Finally, StockNews.com lowered Republic Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Republic Services presently has an average rating of “Hold” and an average price target of $211.00.

Insider Transactions at Republic Services

In related news, Director Katharine Weymouth purchased 540 shares of Republic Services stock in a transaction on Tuesday, June 4th. The stock was purchased at an average cost of $185.26 per share, with a total value of $100,040.40. Following the acquisition, the director now directly owns 540 shares in the company, valued at $100,040.40. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 0.09% of the stock is owned by insiders.

Republic Services Stock Performance

NYSE:RSG traded up $0.73 during trading hours on Monday, reaching $204.00. 183,147 shares of the stock were exchanged, compared to its average volume of 1,208,875. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.05. The firm has a 50 day simple moving average of $196.14 and a 200-day simple moving average of $189.34. The stock has a market capitalization of $64.25 billion, a P/E ratio of 35.66, a P/E/G ratio of 3.25 and a beta of 0.69. Republic Services, Inc. has a 52 week low of $140.23 and a 52 week high of $206.54.

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

Republic Services Increases Dividend

The firm also recently disclosed 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. This is an increase from Republic Services’s previous quarterly dividend of $0.54. This represents a $2.32 annualized dividend and a yield of 1.14%. The ex-dividend date is Wednesday, October 2nd. Republic Services’s dividend payout ratio is currently 40.70%.

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.