Republic Services, Inc. (NYSE:RSG) Shares Acquired by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. grew its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 25.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,816 shares of the business services provider's stock after buying an additional 2,631 shares during the quarter. First Trust Direct Indexing L.P.'s holdings in Republic Services were worth $2,574,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC grew its position in Republic Services by 351.6% in the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider's stock worth $28,000 after purchasing an additional 109 shares during the period. EntryPoint Capital LLC purchased a new stake in Republic Services during the first quarter valued at approximately $29,000. Webster Bank N. A. bought a new position in Republic Services in the third quarter worth approximately $31,000. Itau Unibanco Holding S.A. bought a new stake in shares of Republic Services during the 2nd quarter valued at $36,000. Finally, Indiana Trust & Investment Management CO purchased a new stake in shares of Republic Services in the 2nd quarter worth $45,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Tomago Collins sold 3,200 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at approximately $3,549,832.86. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.09% of the stock is owned by insiders.

Republic Services Stock Down 0.4 %

Shares of RSG traded down $0.81 during mid-day trading on Thursday, reaching $198.00. The company's stock had a trading volume of 1,425,026 shares, compared to its average volume of 1,129,665. The company's 50 day moving average is $203.77 and its 200 day moving average is $196.65. The stock has a market cap of $62.19 billion, a PE ratio of 31.80, a price-to-earnings-growth ratio of 3.21 and a beta of 0.69. Republic Services, Inc. has a 12-month low of $146.82 and a 12-month high of $208.69. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.59 and a quick ratio of 0.59.

Republic Services (NYSE:RSG - Get Free Report) last announced its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.19. The firm had revenue of $4.08 billion during the quarter, compared to analysts' expectations of $4.12 billion. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. The business's revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.54 EPS. Equities analysts anticipate that Republic Services, Inc. will post 6.18 EPS for the current fiscal year.

Republic Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a $0.58 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 annualized dividend and a yield of 1.17%. Republic Services's dividend payout ratio is currently 37.12%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus increased their target price on shares of Republic Services from $215.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, July 25th. BMO Capital Markets lifted their target price 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 upped their price target on Republic Services from $219.00 to $220.00 and gave the stock an "outperform" rating in a research note on Wednesday. CIBC lifted their price objective on shares of Republic Services from $208.00 to $217.00 and gave the company a "neutral" rating in a research report on Wednesday. Finally, Scotiabank assumed coverage on shares of Republic Services in a research report on Friday, October 4th. They set a "sector perform" rating and a $224.00 target price for the company. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $215.71.

Republic Services Company 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.