nVerses Capital LLC Takes $777,000 Position in Republic Services, Inc. (NYSE:RSG)

nVerses Capital LLC acquired a new stake in Republic Services, Inc. (NYSE:RSG - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,000 shares of the business services provider's stock, valued at approximately $777,000. Republic Services accounts for about 0.5% of nVerses Capital LLC's portfolio, making the stock its 26th largest holding.

A number of other hedge funds have also recently added to or reduced their stakes in the company. YHB Investment Advisors Inc. purchased a new position in shares of Republic Services during the first quarter valued at approximately $29,000. EntryPoint Capital LLC purchased a new position in shares of Republic Services during the first quarter valued at approximately $29,000. Bogart Wealth LLC purchased a new position in shares of Republic Services during the fourth quarter valued at approximately $30,000. Jones Financial Companies Lllp boosted its position in shares of Republic Services by 3,014.3% during the fourth quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider's stock valued at $36,000 after buying an additional 211 shares during the last quarter. Finally, Indiana Trust & Investment Management CO purchased a new position in shares of Republic Services during the second quarter valued at approximately $45,000. Institutional investors and hedge funds own 57.73% of the company's stock.

Insider Buying and Selling

In related news, Director Tomago Collins sold 3,200 shares of the business's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $203.01, for a total transaction of $649,632.00. Following the completion of the transaction, the director now directly owns 17,486 shares in the company, valued at $3,549,832.86. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Katharine Weymouth acquired 540 shares of the business's stock in a transaction dated Tuesday, June 4th. The stock was purchased at an average cost of $185.26 per share, for a total transaction of $100,040.40. Following the acquisition, the director now owns 540 shares of the company's stock, valued at $100,040.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Tomago Collins sold 3,200 shares of the company's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $203.01, for a total value of $649,632.00. Following the completion of the transaction, the director now owns 17,486 shares of the company's stock, valued at $3,549,832.86. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

Republic Services Stock Performance

Shares of NYSE:RSG traded up $2.27 during midday trading on Friday, reaching $208.21. 885,446 shares of the company traded hands, compared to its average volume of 1,181,102. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.05. Republic Services, Inc. has a 12 month low of $140.23 and a 12 month high of $208.69. The firm has a market capitalization of $65.57 billion, a price-to-earnings ratio of 36.53, a price-to-earnings-growth ratio of 3.26 and a beta of 0.69. The firm's fifty day moving average price is $199.49 and its two-hundred day moving average price is $191.40.

Republic Services (NYSE:RSG - Get Free Report) last posted its earnings results on Wednesday, July 24th. The business services provider reported $1.61 EPS for the quarter, topping the consensus estimate of $1.53 by $0.08. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. The business had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $4.03 billion. On average, equities analysts expect that Republic Services, Inc. will post 6.18 earnings per share for the current year.

Republic Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 1.11%. This is a boost from Republic Services's previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Wednesday, October 2nd. Republic Services's payout ratio is presently 40.70%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RSG. Oppenheimer dropped their price target on Republic Services from $211.00 to $210.00 and set an "outperform" rating on the stock in a report on Thursday, July 25th. Truist Financial upgraded Republic Services from a "hold" rating to a "buy" rating and lifted their price target for the stock from $192.00 to $220.00 in a report on Thursday, July 11th. StockNews.com lowered Republic Services from a "strong-buy" rating to a "buy" rating in a report on Thursday, August 1st. Raymond James dropped their price target on Republic Services from $219.00 to $214.00 and set an "outperform" rating on the stock in a report on Thursday, July 25th. Finally, BMO Capital Markets lifted their price target on Republic Services from $209.00 to $211.00 and gave the stock a "market perform" rating in a report on Thursday, July 25th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $211.00.

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.