Polar Asset Management Partners Inc. Invests $1.59 Million in Republic Services, Inc. (NYSE:RSG)

Polar Asset Management Partners Inc. acquired a new stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 7,900 shares of the business services provider's stock, valued at approximately $1,587,000.

Other hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its stake in shares of Republic Services by 2.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,520,738 shares of the business services provider's stock worth $506,265,000 after purchasing an additional 57,040 shares during the period. Legal & General Group Plc grew its position in shares of Republic Services by 5.4% during the 2nd quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider's stock valued at $351,480,000 after acquiring an additional 92,013 shares during the period. TD Asset Management Inc raised its holdings in shares of Republic Services by 2.1% in the 2nd quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider's stock worth $341,602,000 after purchasing an additional 35,650 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its holdings in Republic Services by 4.5% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,477,807 shares of the business services provider's stock valued at $296,803,000 after purchasing an additional 63,500 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Republic Services by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 1,476,116 shares of the business services provider's stock worth $286,868,000 after buying an additional 3,809 shares during the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Republic Services

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total value of $1,065,011.42. Following the completion of the transaction, the chief financial officer now directly owns 6,318 shares of the company's stock, valued at $1,326,906.36. This represents a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RSG. Royal Bank of Canada increased their price target on Republic Services from $211.00 to $219.00 and gave the stock a "sector perform" rating in a research note on Wednesday, October 30th. CIBC lifted their target price on shares of Republic Services from $217.00 to $227.00 and gave the stock a "neutral" rating in a research note on Wednesday. William Blair assumed coverage on shares of Republic Services in a research note on Thursday, October 3rd. They set an "outperform" rating on the stock. Oppenheimer lifted 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. Finally, Truist Financial increased their target price on Republic Services from $220.00 to $244.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $217.88.

Republic Services Trading Up 0.6 %

Shares of RSG traded up $1.22 during mid-day trading on Friday, reaching $216.70. The company's stock had a trading volume of 1,052,887 shares, compared to its average volume of 1,115,917. 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 52 week low of $160.41 and a 52 week high of $220.58. The company's fifty day moving average price is $207.21 and its two-hundred day moving average price is $200.67. The stock has a market cap of $67.86 billion, a PE ratio of 34.67, a P/E/G ratio of 3.28 and a beta of 0.71.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating 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 business had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same period in the prior year, the business posted $1.54 earnings per share. The company's revenue was up 6.5% on a year-over-year basis. On average, analysts predict that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Thursday, January 2nd. Republic Services's dividend payout ratio (DPR) is presently 37.12%.

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.