Erste Asset Management GmbH Purchases New Position in Republic Services, Inc. (NYSE:RSG)

Erste Asset Management GmbH acquired a new stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 59,542 shares of the business services provider's stock, valued at approximately $11,879,000.

Other hedge funds also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Republic Services during the 3rd quarter valued at $6,102,000. Lifeworks Advisors LLC lifted its holdings in Republic Services by 1,112.3% during the 3rd quarter. Lifeworks Advisors LLC now owns 21,469 shares of the business services provider's stock worth $4,312,000 after buying an additional 19,698 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Republic Services by 15.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 5,663 shares of the business services provider's stock worth $1,137,000 after buying an additional 746 shares during the period. Quantbot Technologies LP acquired a new position in Republic Services during the 3rd quarter worth about $6,579,000. Finally, PGGM Investments lifted its holdings in Republic Services by 264.3% during the 2nd quarter. PGGM Investments now owns 8,842 shares of the business services provider's stock worth $1,718,000 after buying an additional 6,415 shares during the period. Institutional investors and hedge funds own 57.73% of the company's stock.

Republic Services Stock Performance

Shares of NYSE RSG traded down $3.20 during midday trading on Monday, reaching $215.10. The company's stock had a trading volume of 213,356 shares, compared to its average volume of 1,113,771. Republic Services, Inc. has a 12-month low of $160.38 and a 12-month high of $220.58. The firm has a 50 day moving average price of $206.22 and a 200-day moving average price of $200.08. The stock has a market capitalization of $67.36 billion, a P/E ratio of 34.64, a PEG ratio of 3.34 and a beta of 0.70. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The business had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the prior year, the business earned $1.54 earnings per share. Republic Services's revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities 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 announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.58 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 1.08%. Republic Services's payout ratio is 37.12%.

Insider Buying and Selling at Republic Services

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services stock in a transaction dated 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 completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.09% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. TD Cowen lifted their price objective on Republic Services from $195.00 to $200.00 and gave the stock a "hold" rating in a research report on Monday, August 5th. William Blair assumed coverage on Republic Services in a research report on Thursday, October 3rd. They issued an "outperform" rating for the company. Oppenheimer lifted their price objective on Republic Services from $219.00 to $220.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Scotiabank assumed coverage on Republic Services in a research report on Friday, October 4th. They issued a "sector perform" rating and a $224.00 price objective for the company. Finally, Royal Bank of Canada lifted their price objective on Republic Services from $211.00 to $219.00 and gave the stock a "sector perform" rating in a research report on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Republic Services currently 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.