Republic Services, Inc. (NYSE:RSG) Shares Acquired by Concentric Capital Strategies LP

Concentric Capital Strategies LP increased its stake in shares of Republic Services, Inc. (NYSE:RSG) by 217.7% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 30,172 shares of the business services provider’s stock after purchasing an additional 20,674 shares during the period. Concentric Capital Strategies LP’s holdings in Republic Services were worth $6,060,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RSG. Atria Investments Inc acquired a new stake in Republic Services during the first quarter worth approximately $1,068,000. Cetera Investment Advisers raised its holdings in shares of Republic Services by 179.3% in the first quarter. Cetera Investment Advisers now owns 67,652 shares of the business services provider’s stock valued at $12,951,000 after buying an additional 43,432 shares during the last quarter. Cetera Advisors LLC boosted its stake in shares of Republic Services by 92.7% during the first quarter. Cetera Advisors LLC now owns 17,351 shares of the business services provider’s stock worth $3,322,000 after buying an additional 8,348 shares during the period. GAMMA Investing LLC grew its stake in shares of Republic Services by 61.1% in the 2nd quarter. GAMMA Investing LLC now owns 3,359 shares of the business services provider’s stock valued at $653,000 after purchasing an additional 1,274 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of 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 purchasing an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Stock Up 0.0 %

Shares of RSG opened at $218.30 on Monday. The firm 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 quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. The company’s fifty day moving average is $206.22 and its two-hundred day moving average is $200.08. Republic Services, Inc. has a fifty-two week low of $159.38 and a fifty-two week high of $220.58.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, topping the consensus estimate 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 return on equity of 18.18% and a net margin of 12.46%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.54 earnings per share. Analysts forecast that Republic Services, Inc. will post 6.24 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 annualized dividend and a yield of 1.06%. Republic Services’s dividend payout ratio is currently 37.12%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RSG. Truist Financial increased 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. 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 research report on Wednesday, October 30th. William Blair assumed coverage on shares of Republic Services in a research note on Thursday, October 3rd. They issued 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 company an “outperform” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley upped their price target on Republic Services from $208.00 to $217.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Republic Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.71.

Insider Activity

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now directly owns 6,318 shares in the company, valued at approximately $1,326,906.36. This represents a 44.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.09% of the company’s stock.

Republic Services 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.