Republic Services, Inc. (NYSE:RSG) Shares Purchased by Mechanics Bank Trust Department

Mechanics Bank Trust Department raised its stake in shares of Republic Services, Inc. (NYSE:RSG) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,012 shares of the business services provider’s stock after purchasing an additional 170 shares during the period. Mechanics Bank Trust Department’s holdings in Republic Services were worth $5,023,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. EntryPoint Capital LLC acquired a new position in Republic Services during the first quarter worth approximately $29,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Republic Services in the second quarter worth $36,000. Indiana Trust & Investment Management CO acquired a new stake in shares of Republic Services in the second quarter worth $45,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Republic Services in the second quarter worth $49,000. Finally, J.Safra Asset Management Corp increased its position in shares of Republic Services by 584.2% in the first quarter. J.Safra Asset Management Corp now owns 260 shares of the business services provider’s stock worth $50,000 after acquiring an additional 222 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada increased their price objective on shares of Republic Services from $201.00 to $211.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. Robert W. Baird increased their price objective on shares of Republic Services from $208.00 to $210.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Stifel Nicolaus increased their price objective on shares of Republic Services from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Raymond James lowered their price target 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. Finally, Truist Financial raised shares of Republic Services from a “hold” rating to a “buy” rating and raised their price target for the company from $192.00 to $220.00 in a report on Thursday, July 11th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $211.65.

Insider Transactions at Republic Services

In other news, Director Tomago Collins sold 3,200 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $203.01, for a total value 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.09% of the company’s stock.

Republic Services Trading Up 0.7 %

NYSE RSG opened at $204.44 on Friday. Republic Services, Inc. has a 12 month low of $142.65 and a 12 month high of $208.69. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.59 and a quick ratio of 0.59. The company has a market capitalization of $64.38 billion, a price-to-earnings ratio of 35.87, a price-to-earnings-growth ratio of 3.29 and a beta of 0.69. The company’s fifty day moving average price is $203.28 and its two-hundred day moving average price is $195.37.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.61 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $4.03 billion. As a group, research analysts predict that Republic Services, Inc. will post 6.18 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be given a $0.58 dividend. This is an increase from Republic Services’s previous quarterly dividend of $0.54. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Wednesday, October 2nd. Republic Services’s dividend payout ratio (DPR) is presently 40.70%.

Republic Services Company 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.