Quantbot Technologies LP Takes Position in Republic Services, Inc. (NYSE:RSG)

Quantbot Technologies LP bought a new position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 32,755 shares of the business services provider's stock, valued at approximately $6,579,000.

A number of other large investors have also recently bought and sold shares of the company. Wolff Wiese Magana LLC raised its holdings in shares of Republic Services by 351.6% in the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider's stock valued at $28,000 after purchasing an additional 109 shares during the period. EntryPoint Capital LLC bought a new position in shares of Republic Services during the first quarter worth approximately $29,000. Webster Bank N. A. bought a new stake in shares of Republic Services during the 3rd quarter valued at $31,000. Truvestments Capital LLC acquired a new stake in Republic Services during the third quarter worth about $34,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Republic Services during the 2nd quarter worth approximately $36,000. Institutional investors and hedge funds own 57.73% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. TD Cowen raised their price objective on Republic Services from $195.00 to $200.00 and gave the company a "hold" rating in a report on Monday, August 5th. CIBC increased their price target on Republic Services from $208.00 to $217.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Morgan Stanley lifted their price objective on Republic Services from $208.00 to $217.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. Oppenheimer increased their target price on shares of Republic Services from $219.00 to $220.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Finally, Truist Financial upped their price objective on shares of Republic Services from $220.00 to $244.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $215.71.

Republic Services Price Performance

Shares of RSG traded up $0.89 during mid-day trading on Tuesday, reaching $218.75. The stock had a trading volume of 834,799 shares, compared to its average volume of 1,121,347. The firm has a market cap of $68.50 billion, a price-to-earnings ratio of 34.85, a PEG ratio of 3.31 and a beta of 0.70. Republic Services, Inc. has a 12 month low of $159.10 and a 12 month high of $219.94. The business has a fifty day moving average of $204.81 and a 200 day moving average of $199.22. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, beating analysts' consensus estimates of $1.61 by $0.20. The business had revenue of $4.08 billion for the quarter, compared to analysts' expectations of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The business's quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the firm earned $1.54 earnings per share. Equities analysts predict that Republic Services, Inc. will post 6.24 EPS for the current year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a $0.58 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.06%. Republic Services's dividend payout ratio (DPR) is presently 37.12%.

Insider Activity

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services 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 completion of the transaction, the chief financial officer now owns 6,318 shares in the company, valued at approximately $1,326,906.36. The trade was a 44.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.09% of the company's stock.

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.