59,542 Shares in Republic Services, Inc. (NYSE:RSG) Purchased by Erste Asset Management GmbH

Erste Asset Management GmbH bought a new stake in Republic Services, Inc. (NYSE:RSG) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 59,542 shares of the business services provider’s stock, valued at approximately $11,879,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Atria Investments Inc acquired a new position in Republic Services during the first quarter worth $1,068,000. Cetera Investment Advisers boosted its position in shares of Republic Services by 179.3% in the 1st quarter. Cetera Investment Advisers now owns 67,652 shares of the business services provider’s stock worth $12,951,000 after buying an additional 43,432 shares in the last quarter. Cetera Advisors LLC grew its stake in Republic Services by 92.7% in the 1st quarter. Cetera Advisors LLC now owns 17,351 shares of the business services provider’s stock valued at $3,322,000 after acquiring an additional 8,348 shares during the last quarter. GAMMA Investing LLC increased its holdings in Republic Services by 61.1% during the 2nd quarter. GAMMA Investing LLC now owns 3,359 shares of the business services provider’s stock valued at $653,000 after acquiring an additional 1,274 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in Republic Services by 12.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 672 shares of the business services provider’s stock worth $131,000 after acquiring an additional 75 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Republic Services

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the transaction, the chief financial officer now directly owns 6,318 shares of the company’s stock, valued at approximately $1,326,906.36. The trade was a 44.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.09% of the stock is owned by insiders.

Republic Services Price Performance

RSG stock opened at $218.30 on Monday. The company has a market cap of $68.36 billion, a PE ratio of 34.93, a price-to-earnings-growth ratio of 3.34 and a beta of 0.70. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. The stock has a 50-day moving average price of $206.22 and a two-hundred day moving average price of $200.08. Republic Services, Inc. has a 12-month low of $159.38 and a 12-month high of $220.58.

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 analysts’ consensus estimates of $1.61 by $0.20. The firm had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The company’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.54 EPS. As a group, research analysts predict that Republic Services, Inc. will post 6.24 EPS for the current year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors 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 dividend yield of 1.06%. Republic Services’s payout ratio is 37.12%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on RSG shares. CIBC raised their price objective on shares of Republic Services from $208.00 to $217.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. TD Cowen raised their price target on Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. Scotiabank initiated coverage on Republic Services in a research report on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price objective on the stock. Morgan Stanley boosted their target price on shares of Republic Services from $208.00 to $217.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Truist Financial raised their price target on shares of Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $215.71.

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.