Point72 Hong Kong Ltd acquired a new stake in Republic Services, Inc. (NYSE:RSG - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 43,176 shares of the business services provider's stock, valued at approximately $8,671,000.
Other institutional investors have also made changes to their positions in the company. FSA Wealth Management LLC acquired a new stake in shares of Republic Services during the third quarter valued at about $25,000. Wolff Wiese Magana LLC grew its stake in 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. Webster Bank N. A. purchased a new stake in Republic Services during the 3rd quarter worth approximately $31,000. Truvestments Capital LLC purchased a new position in shares of Republic Services during the 3rd quarter valued at approximately $34,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Republic Services during the second quarter worth approximately $36,000. 57.73% of the stock is owned by institutional investors and hedge funds.
Republic Services Stock Up 0.0 %
Shares of RSG traded up $0.02 during trading hours on Friday, hitting $218.30. 631,459 shares of the company were exchanged, compared to its average volume of 960,102. The company has a market cap of $68.36 billion, a PE ratio of 34.93, a PEG ratio of 3.34 and a beta of 0.70. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64. The firm's 50 day moving average is $206.22 and its 200-day moving average is $199.98. Republic Services, Inc. has a 52 week low of $159.38 and a 52 week high of $220.58.
Republic Services (NYSE:RSG - Get Free Report) last announced its 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. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The firm had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter last year, the firm posted $1.54 EPS. The business's quarterly revenue was up 6.5% on a year-over-year basis. On average, equities research analysts forecast that Republic Services, Inc. will post 6.24 EPS for the current fiscal year.
Republic Services Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Thursday, January 2nd. Republic Services's dividend payout ratio (DPR) is currently 37.12%.
Insiders Place Their Bets
In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the sale, the chief financial officer now owns 6,318 shares in the company, valued at $1,326,906.36. The trade was a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.09% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have commented on RSG shares. 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 note on Wednesday, October 30th. TD Cowen increased 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. 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. William Blair began coverage on Republic Services in a research note on Thursday, October 3rd. They issued an "outperform" rating for the company. Finally, Scotiabank initiated coverage on shares of Republic Services in a research note on Friday, October 4th. They set a "sector perform" rating and a $224.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $215.71.
Read Our Latest Analysis on RSG
About Republic Services
(
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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