32,755 Shares in Republic Services, Inc. (NYSE:RSG) Acquired by Quantbot Technologies LP

Quantbot Technologies LP acquired a new stake in shares of Republic Services, Inc. (NYSE:RSG) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 32,755 shares of the business services provider’s stock, valued at approximately $6,579,000.

Several other institutional investors and hedge funds have also recently modified their holdings of RSG. Wolff Wiese Magana LLC increased its holdings in Republic Services by 351.6% in the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 109 shares during the last quarter. EntryPoint Capital LLC purchased a new position in shares of Republic Services during the first quarter valued at about $29,000. Webster Bank N. A. bought a new stake in shares of Republic Services in the third quarter worth about $31,000. Truvestments Capital LLC purchased a new stake in shares of Republic Services in the third quarter worth about $34,000. Finally, Itau Unibanco Holding S.A. purchased a new position in Republic Services during the 2nd quarter valued at approximately $36,000. Institutional investors own 57.73% of the company’s stock.

Republic Services Stock Performance

RSG stock opened at $217.83 on Tuesday. Republic Services, Inc. has a twelve month low of $159.10 and a twelve month high of $218.90. The firm has a market cap of $68.21 billion, a price-to-earnings ratio of 34.85, a PEG ratio of 3.31 and a beta of 0.70. The business’s fifty day simple moving average is $204.81 and its two-hundred day simple moving average is $199.22. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07.

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

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.58 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 annualized dividend and a yield of 1.07%. Republic Services’s payout ratio is currently 37.12%.

Wall Street Analysts Forecast Growth

RSG has been the topic of several recent research reports. CIBC upped their price objective on Republic Services from $208.00 to $217.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Truist Financial increased their price objective on shares of Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Royal Bank of Canada boosted their target price 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. Morgan Stanley lifted their price target on Republic Services from $208.00 to $217.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, StockNews.com downgraded Republic Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Republic Services has an average rating of “Moderate Buy” and an average target price of $215.71.

Insider Buying and Selling at Republic Services

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total value 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 approximately $1,326,906.36. This represents a 44.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is currently owned by corporate insiders.

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.