Parallax Volatility Advisers L.P. Purchases New Stake in Republic Services, Inc. (NYSE:RSG)

Parallax Volatility Advisers L.P. purchased a new stake in Republic Services, Inc. (NYSE:RSG - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,963 shares of the business services provider's stock, valued at approximately $595,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. FSA Wealth Management LLC acquired a new stake in shares of Republic Services during the third quarter valued at about $25,000. Wolff Wiese Magana LLC boosted its position in Republic Services by 351.6% during the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider's stock worth $28,000 after buying an additional 109 shares during the period. Webster Bank N. A. bought a new stake in Republic Services during the 3rd quarter worth approximately $31,000. Truvestments Capital LLC acquired a new position in Republic Services in the 3rd quarter valued at approximately $34,000. Finally, Itau Unibanco Holding S.A. bought a new position in shares of Republic Services during the second quarter valued at $36,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Stock Up 0.6 %

Shares of RSG traded up $1.20 during trading hours on Friday, reaching $216.68. The stock had a trading volume of 1,053,775 shares, compared to its average volume of 929,871. The company has a market capitalization of $67.85 billion, a price-to-earnings ratio of 34.67, a P/E/G ratio of 3.29 and a beta of 0.71. The firm has a 50-day simple moving average of $207.21 and a 200 day simple moving average of $200.67. 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 $160.41 and a 12 month high of $220.58.

Republic Services (NYSE:RSG - Get Free Report) last posted its earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.61 by $0.20. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The company had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the previous year, the firm posted $1.54 earnings per share. The firm's revenue for the quarter was up 6.5% on a year-over-year basis. Equities research analysts predict that Republic Services, Inc. will post 6.24 earnings per share 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 issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Thursday, January 2nd. Republic Services's dividend payout ratio is 37.12%.

Insider Transactions at Republic Services

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the business's stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total value of $1,065,011.42. Following the transaction, the chief financial officer now owns 6,318 shares in the company, valued at $1,326,906.36. The trade was a 44.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.09% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RSG. William Blair initiated coverage on Republic Services in a research report on Thursday, October 3rd. They set an "outperform" rating for the company. Morgan Stanley raised their price objective on Republic Services from $208.00 to $217.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. BMO Capital Markets upgraded Republic Services from a "market perform" rating to an "outperform" rating and upped their target price for the company from $211.00 to $238.00 in a report on Friday. Royal Bank of Canada raised their price target on shares of Republic Services from $211.00 to $219.00 and gave the stock a "sector perform" rating in a report on Wednesday, October 30th. Finally, Oppenheimer upped their price objective on shares of Republic Services from $219.00 to $220.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $217.88.

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.