Republic Services, Inc. (NYSE:RSG) Position Raised by Bank of Montreal Can

Bank of Montreal Can grew its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 3.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 391,857 shares of the business services provider's stock after purchasing an additional 11,569 shares during the period. Bank of Montreal Can owned 0.13% of Republic Services worth $78,128,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Republic Services by 2.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,520,738 shares of the business services provider's stock worth $506,265,000 after purchasing an additional 57,040 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Republic Services by 5.4% during the 2nd quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider's stock worth $351,480,000 after acquiring an additional 92,013 shares during the period. TD Asset Management Inc lifted its holdings in shares of Republic Services by 2.1% during the 2nd quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider's stock worth $341,602,000 after acquiring an additional 35,650 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Republic Services by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,476,116 shares of the business services provider's stock worth $286,868,000 after acquiring an additional 3,809 shares during the period. Finally, Earnest Partners LLC lifted its holdings in shares of Republic Services by 1.9% during the 2nd quarter. Earnest Partners LLC now owns 1,286,053 shares of the business services provider's stock worth $249,932,000 after acquiring an additional 23,534 shares during the period. 57.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Scotiabank assumed coverage on shares of Republic Services in a report on Friday, October 4th. They set a "sector perform" rating and a $224.00 price objective on the stock. Royal Bank of Canada raised their price target on shares of Republic Services from $211.00 to $219.00 and gave the company a "sector perform" rating in a report on Wednesday, October 30th. Truist Financial raised their price target on shares of Republic Services from $220.00 to $244.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. CIBC raised their price target on shares of Republic Services from $208.00 to $217.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Finally, William Blair initiated coverage on shares of Republic Services in a report on Thursday, October 3rd. They issued an "outperform" rating on the stock. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $215.71.

Republic Services Stock Up 0.6 %

Shares of RSG stock traded up $1.38 during mid-day trading on Wednesday, reaching $220.13. 103,779 shares of the company were exchanged, compared to its average volume of 1,116,566. Republic Services, Inc. has a fifty-two week low of $159.10 and a fifty-two week high of $220.58. 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 company has a market capitalization of $68.93 billion, a P/E ratio of 35.01, a P/E/G ratio of 3.33 and a beta of 0.70. The business's 50 day simple moving average is $205.15 and its 200 day simple moving average is $199.43.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.61 by $0.20. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The business had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter last year, the company earned $1.54 earnings per share. The business's quarterly revenue was up 6.5% compared to the same quarter last year. Research analysts predict that Republic Services, Inc. will post 6.24 earnings per share for the current year.

Republic Services Announces Dividend

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 issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services's dividend payout ratio is presently 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 value of $1,065,011.42. Following the completion of the transaction, the chief financial officer now owns 6,318 shares of the company's stock, 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 document filed with the SEC, which is available through this link. 0.09% of the stock is currently owned by corporate insiders.

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.