Capital Investment Advisors LLC Raises Stock Position in Republic Services, Inc. (NYSE:RSG)

Capital Investment Advisors LLC boosted its stake in Republic Services, Inc. (NYSE:RSG) by 17.2% in the 3rd quarter, Holdings Channel reports. The firm owned 9,350 shares of the business services provider’s stock after buying an additional 1,370 shares during the quarter. Capital Investment Advisors LLC’s holdings in Republic Services were worth $1,878,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in RSG. RFG Advisory LLC grew its stake in shares of Republic Services by 0.5% in the second quarter. RFG Advisory LLC now owns 10,603 shares of the business services provider’s stock valued at $2,061,000 after buying an additional 53 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its position in Republic Services by 2.9% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,860 shares of the business services provider’s stock valued at $362,000 after acquiring an additional 53 shares in the last quarter. Capital Advisors Ltd. LLC raised its stake 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 purchasing an additional 54 shares during the period. Hexagon Capital Partners LLC lifted its position in shares of Republic Services by 4.0% during the second 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. Finally, Assenagon Asset Management S.A. grew its holdings in 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 purchasing an additional 57 shares in the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Republic Services

In related news, Director Tomago Collins sold 3,200 shares of Republic Services stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $203.01, for a total transaction of $649,632.00. Following the sale, the director now directly owns 17,486 shares in the company, valued at $3,549,832.86. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RSG. Robert W. Baird upped their price objective on shares of Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. William Blair started coverage on Republic Services in a report on Thursday, October 3rd. They issued an “outperform” rating for the company. Royal Bank of Canada upped their target price on Republic Services from $201.00 to $211.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. TD Cowen lifted their price target on shares of Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a research note on Monday, August 5th. Finally, Truist Financial upgraded shares of Republic Services from a “hold” rating to a “buy” rating and increased their price objective for the company from $192.00 to $220.00 in a research note on Thursday, July 11th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.65.

Republic Services Price Performance

Shares of NYSE RSG opened at $204.80 on Friday. Republic Services, Inc. has a 1-year low of $142.65 and a 1-year high of $208.69. The firm has a market capitalization of $64.50 billion, a PE ratio of 35.93, a P/E/G ratio of 3.30 and a beta of 0.69. 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 business’s fifty day moving average price is $203.92 and its two-hundred day moving average price is $195.90.

Republic Services (NYSE:RSG) last posted its earnings results on Wednesday, July 24th. The business services provider reported $1.61 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.03 billion. On average, research analysts expect that Republic Services, Inc. will post 6.18 EPS for the current year.

Republic Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd were paid a dividend of $0.58 per share. The ex-dividend date was Wednesday, October 2nd. This represents a $2.32 annualized dividend and a yield of 1.13%. This is an increase from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s payout ratio 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.