CHB Investment Group LLC Makes New Investment in Republic Services, Inc. (NYSE:RSG)

CHB Investment Group LLC acquired a new position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 13,970 shares of the business services provider's stock, valued at approximately $2,806,000. Republic Services makes up about 1.5% of CHB Investment Group LLC's investment portfolio, making the stock its 28th biggest position.

Other large investors also recently made changes to their positions in the company. RFG Advisory LLC grew its stake in Republic Services by 0.5% in the second quarter. RFG Advisory LLC now owns 10,603 shares of the business services provider's stock valued at $2,061,000 after acquiring an additional 53 shares during the period. Commerzbank Aktiengesellschaft FI increased its stake in Republic Services by 2.9% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 1,860 shares of the business services provider's stock valued at $362,000 after purchasing an additional 53 shares in the last quarter. Capital Advisors Ltd. LLC lifted its stake in shares of Republic Services by 2.9% in the first quarter. Capital Advisors Ltd. LLC now owns 1,903 shares of the business services provider's stock valued at $364,000 after buying an additional 54 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of Republic Services by 4.0% during the second quarter. Hexagon Capital Partners LLC now owns 1,433 shares of the business services provider's stock valued at $278,000 after buying an additional 55 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Republic Services by 1.2% during the second quarter. Assenagon Asset Management S.A. now owns 4,917 shares of the business services provider's stock worth $956,000 after acquiring an additional 57 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Stock Performance

RSG stock traded down $0.89 during midday trading on Friday, reaching $204.73. 780,161 shares of the company's stock traded hands, compared to its average volume of 1,142,132. Republic Services, Inc. has a 52 week low of $142.65 and a 52 week high of $208.69. The company has a 50-day moving average price of $203.85 and a two-hundred day moving average price of $195.74. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market capitalization of $64.30 billion, a PE ratio of 34.44, a price-to-earnings-growth ratio of 3.30 and a beta of 0.69.

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

Republic Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd were paid a $0.58 dividend. The ex-dividend date of this dividend was Wednesday, October 2nd. This is a boost from Republic Services's previous quarterly dividend of $0.54. This represents a $2.32 annualized dividend and a yield of 1.13%. Republic Services's dividend payout ratio is currently 38.86%.

Insider Buying and Selling at Republic Services

In other news, Director Tomago Collins sold 3,200 shares of Republic Services stock in a transaction on Friday, August 16th. The shares were sold at an average price of $203.01, for a total transaction of $649,632.00. Following the completion of the sale, the director now directly owns 17,486 shares of the company's stock, valued at approximately $3,549,832.86. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.09% of the company's stock.

Wall Street Analysts Forecast Growth

RSG has been the subject of a number of recent research reports. StockNews.com lowered Republic Services from a "strong-buy" rating to a "buy" rating in a report on Thursday, August 1st. BMO Capital Markets raised their price objective on Republic Services from $209.00 to $211.00 and gave the company a "market perform" rating in a research note on Thursday, July 25th. Oppenheimer reduced their target price on shares of Republic Services from $211.00 to $210.00 and set an "outperform" rating for the company in a research note on Thursday, July 25th. Robert W. Baird boosted their price target on shares of Republic Services from $208.00 to $210.00 and gave the stock a "neutral" rating in a report on Thursday, July 25th. Finally, Truist Financial raised shares of Republic Services from a "hold" rating to a "buy" rating and upped their price objective for the stock from $192.00 to $220.00 in a research report on Thursday, July 11th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Republic Services presently has a consensus rating of "Moderate Buy" and a consensus target price of $211.65.

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.