Mattern Wealth Management LLC Makes New Investment in Republic Services, Inc. (NYSE:RSG)

Mattern Wealth Management LLC acquired a new stake in Republic Services, Inc. (NYSE:RSG) during the third quarter, Holdings Channel reports. The institutional investor acquired 1,000 shares of the business services provider’s stock, valued at approximately $201,000.

Several other institutional investors have also recently modified their holdings of RSG. Vanguard Group Inc. boosted its stake in shares of Republic Services by 0.6% in the first quarter. Vanguard Group Inc. now owns 18,254,878 shares of the business services provider’s stock worth $3,494,714,000 after buying an additional 101,518 shares during the last quarter. Capital World Investors boosted its position in Republic Services by 20.5% in the 1st quarter. Capital World Investors now owns 7,909,008 shares of the business services provider’s stock worth $1,514,100,000 after purchasing an additional 1,346,588 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Republic Services by 2.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,520,738 shares of the business services provider’s stock worth $506,265,000 after purchasing an additional 57,040 shares during the period. Legal & General Group Plc increased its holdings in shares of Republic Services by 5.4% during the 2nd quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider’s stock valued at $351,480,000 after purchasing an additional 92,013 shares in the last quarter. Finally, TD Asset Management Inc lifted its stake in shares of Republic Services by 2.1% in the 2nd quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider’s stock valued at $341,602,000 after purchasing an additional 35,650 shares during the period. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Tomago Collins sold 3,200 shares of the 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 completion of the transaction, the director now owns 17,486 shares of the company’s stock, valued at approximately $3,549,832.86. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets increased their target price on shares of Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. William Blair initiated coverage on Republic Services in a report on Thursday, October 3rd. They issued an “outperform” rating on the stock. Oppenheimer increased their target price on Republic Services from $210.00 to $219.00 and gave the company an “outperform” rating in a research report on Monday. Truist Financial raised shares of Republic Services from a “hold” rating to a “buy” rating and boosted their price target for the stock from $192.00 to $220.00 in a report on Thursday, July 11th. Finally, StockNews.com lowered shares of Republic Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $212.18.

Republic Services Trading Down 0.5 %

Shares of NYSE RSG traded down $0.93 during midday trading on Tuesday, reaching $203.18. 131,074 shares of the stock were exchanged, compared to its average volume of 1,134,842. Republic Services, Inc. has a twelve month low of $142.65 and a twelve month high of $208.69. The stock has a market capitalization of $63.81 billion, a P/E ratio of 34.19, a PEG ratio of 3.29 and a beta of 0.69. The company has a 50 day simple moving average of $204.01 and a 200 day simple moving average of $196.06. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.59 and a current ratio of 0.59.

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

Republic Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd were given a dividend of $0.58 per share. The ex-dividend date was Wednesday, October 2nd. This is a boost 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 1.14%. Republic Services’s dividend payout ratio (DPR) is currently 38.86%.

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.