Ascent Group LLC Raises Holdings in Republic Services, Inc. (NYSE:RSG)

Ascent Group LLC increased its position in Republic Services, Inc. (NYSE:RSG) by 5.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,529 shares of the business services provider’s stock after acquiring an additional 240 shares during the quarter. Ascent Group LLC’s holdings in Republic Services were worth $910,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC raised its position in shares of Republic Services by 2.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,520,738 shares of the business services provider’s stock valued at $506,265,000 after purchasing an additional 57,040 shares during the period. Legal & General Group Plc raised its holdings in 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 acquiring an additional 92,013 shares during the period. TD Asset Management Inc lifted its position in shares of Republic Services by 2.1% during the second quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider’s stock worth $341,602,000 after acquiring an additional 35,650 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Republic Services by 4.5% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,477,807 shares of the business services provider’s stock worth $296,803,000 after acquiring an additional 63,500 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Republic Services by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,476,116 shares of the business services provider’s stock valued at $286,868,000 after purchasing an additional 3,809 shares during the period. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Trading Down 0.0 %

RSG stock opened at $214.89 on Wednesday. The company has a market capitalization of $67.29 billion, a PE ratio of 34.38, a price-to-earnings-growth ratio of 3.29 and a beta of 0.71. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64. Republic Services, Inc. has a one year low of $160.38 and a one year high of $220.58. The company’s 50 day moving average price is $206.69 and its two-hundred day moving average price is $200.46.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.20. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The business had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the previous year, the firm posted $1.54 earnings per share. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, analysts predict that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be given a $0.58 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 annualized dividend and a yield of 1.08%. Republic Services’s payout ratio is currently 37.12%.

Analysts Set New Price Targets

A number of research firms have weighed in on RSG. Morgan Stanley lifted their target price on Republic Services from $208.00 to $217.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. William Blair assumed coverage on shares of Republic Services in a research note on Thursday, October 3rd. They set an “outperform” rating for the company. Oppenheimer increased their target price on shares of Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Royal Bank of Canada upped their price target on shares of Republic Services from $211.00 to $219.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. Finally, Truist Financial lifted their price objective on Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $215.71.

Insider Activity

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the completion of the sale, the chief financial officer now owns 6,318 shares of the company’s stock, valued at $1,326,906.36. This represents a 44.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.09% of the company’s stock.

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.