Empirical Finance LLC Grows Stock Position in Republic Services, Inc. (NYSE:RSG)

Empirical Finance LLC increased its stake in shares of Republic Services, Inc. (NYSE:RSG) by 2.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,114 shares of the business services provider’s stock after acquiring an additional 142 shares during the period. Empirical Finance LLC’s holdings in Republic Services were worth $1,429,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Wolff Wiese Magana LLC increased its holdings in shares of Republic Services by 351.6% during the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 109 shares in the last quarter. EntryPoint Capital LLC purchased a new position in Republic Services in the first quarter valued at $29,000. Webster Bank N. A. acquired a new position in shares of Republic Services in the third quarter worth about $31,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Republic Services during the 2nd quarter valued at about $36,000. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Republic Services in the 3rd quarter valued at about $39,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Stock Performance

NYSE:RSG opened at $208.03 on Friday. The company’s 50-day moving average is $203.84 and its two-hundred day moving average is $197.97. The firm has a market capitalization of $65.15 billion, a price-to-earnings ratio of 33.28, a PEG ratio of 3.28 and a beta of 0.70. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64. Republic Services, Inc. has a 1-year low of $157.46 and a 1-year high of $216.18.

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

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 1.12%. The ex-dividend date is Thursday, January 2nd. Republic Services’s dividend payout ratio (DPR) is presently 37.12%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Scotiabank initiated coverage on Republic Services in a report on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price objective on the stock. Truist Financial boosted their price target on shares of Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. StockNews.com downgraded shares of Republic Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus upped their price target 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. Finally, TD Cowen lifted their price objective on Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $215.71.

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.