Connor Clark & Lunn Investment Management Ltd. bought a new position in Republic Services, Inc. (NYSE:RSG - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 30,384 shares of the business services provider's stock, valued at approximately $6,102,000.
A number of other large investors have also made changes to their positions in the company. Wolff Wiese Magana LLC lifted its position 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 worth $28,000 after buying an additional 109 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in Republic Services during the first quarter valued at $29,000. Webster Bank N. A. acquired a new position in Republic Services in the 3rd quarter worth about $31,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Republic Services during the 2nd quarter worth about $36,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Republic Services during the 3rd quarter valued at about $39,000. Institutional investors and hedge funds own 57.73% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have issued reports on RSG. William Blair began coverage on shares of Republic Services in a research note on Thursday, October 3rd. They issued an "outperform" rating for the company. Scotiabank assumed coverage on shares of Republic Services in a research report on Friday, October 4th. They set a "sector perform" rating and a $224.00 target price on the stock. Truist Financial boosted their price target on Republic Services from $220.00 to $244.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Royal Bank of Canada raised their price objective on Republic Services from $211.00 to $219.00 and gave the company a "sector perform" rating in a research note on Wednesday, October 30th. Finally, TD Cowen upped their target price on Republic Services from $195.00 to $200.00 and gave the stock a "hold" rating in a research report on Monday, August 5th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Republic Services presently has a consensus rating of "Moderate Buy" and a consensus target price of $215.71.
Read Our Latest Report on RSG
Insider Activity at Republic Services
In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of the firm'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 transaction, the chief financial officer now directly owns 6,318 shares of the company's stock, valued at approximately $1,326,906.36. This trade represents a 44.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is currently owned by insiders.
Republic Services Stock Performance
Shares of RSG traded up $2.73 on Friday, reaching $216.79. 755,399 shares of the stock traded hands, compared to its average volume of 1,001,034. Republic Services, Inc. has a 12 month low of $159.10 and a 12 month high of $216.86. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64. The stock's 50-day moving average price is $204.56 and its 200-day moving average price is $198.86. The firm has a market cap of $67.89 billion, a price-to-earnings ratio of 34.69, a P/E/G ratio of 3.27 and a beta of 0.70.
Republic Services (NYSE:RSG - Get Free Report) last posted its earnings results 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 business had revenue of $4.08 billion for the quarter, compared to analysts' expectations 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 in the previous year, the firm posted $1.54 earnings per share. Equities analysts forecast that Republic Services, Inc. will post 6.24 EPS for the current fiscal year.
Republic Services Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services's payout ratio is 37.12%.
Republic Services Profile
(
Free Report)
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.
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