Mount Lucas Management LP Has $3.28 Million Stock Position in Republic Services, Inc. (NYSE:RSG)

Mount Lucas Management LP lowered its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 44.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,332 shares of the business services provider's stock after selling 12,811 shares during the quarter. Republic Services comprises about 1.1% of Mount Lucas Management LP's portfolio, making the stock its 13th biggest holding. Mount Lucas Management LP's holdings in Republic Services were worth $3,280,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital World Investors increased its position in shares of Republic Services by 20.5% in the first quarter. Capital World Investors now owns 7,909,008 shares of the business services provider's stock worth $1,514,100,000 after acquiring an additional 1,346,588 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Republic Services by 83,671.9% in the 3rd quarter. International Assets Investment Management LLC now owns 538,653 shares of the business services provider's stock valued at $108,183,000 after purchasing an additional 538,010 shares during the period. Earnest Partners LLC lifted its position in shares of Republic Services by 16.9% in the first quarter. Earnest Partners LLC now owns 1,262,519 shares of the business services provider's stock worth $241,697,000 after purchasing an additional 182,645 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in Republic Services by 1,946.2% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 136,279 shares of the business services provider's stock valued at $26,484,000 after purchasing an additional 129,619 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in Republic Services by 44.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 396,681 shares of the business services provider's stock worth $75,941,000 after buying an additional 121,781 shares in the last quarter. Institutional investors own 57.73% of the company's stock.

Republic Services Trading Down 0.7 %

Shares of RSG traded down $1.42 on Friday, reaching $208.04. 984,389 shares of the company's stock were exchanged, compared to its average volume of 927,151. The business has a 50 day moving average price of $203.84 and a two-hundred day moving average price of $198.02. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. Republic Services, Inc. has a 12 month low of $157.46 and a 12 month high of $216.18. The stock has a market capitalization of $65.15 billion, a P/E ratio of 33.29, a price-to-earnings-growth ratio of 3.18 and a beta of 0.70.

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

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Thursday, January 2nd. Republic Services's payout ratio is presently 37.12%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Oppenheimer lifted their price objective on Republic Services from $219.00 to $220.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Truist Financial boosted their price target on Republic Services from $220.00 to $244.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Royal Bank of Canada lifted their target price on shares of Republic Services from $211.00 to $219.00 and gave the company a "sector perform" rating in a research note on Wednesday, October 30th. Raymond James dropped their price target on shares of Republic Services from $219.00 to $214.00 and set an "outperform" rating on the stock in a research note on Thursday, July 25th. Finally, Morgan Stanley upped their price objective on shares of Republic Services from $208.00 to $217.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Nine 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 stock has a consensus rating of "Moderate Buy" and a consensus target price of $215.71.

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.