Quantinno Capital Management LP Boosts Stock Position in Republic Services, Inc. (NYSE:RSG)

Quantinno Capital Management LP raised its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 27.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,400 shares of the business services provider's stock after buying an additional 6,752 shares during the period. Quantinno Capital Management LP's holdings in Republic Services were worth $6,306,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP increased its stake in Republic Services by 471.7% during the third quarter. Quarry LP now owns 909 shares of the business services provider's stock valued at $183,000 after purchasing an additional 750 shares during the last quarter. Rench Wealth Management Inc. increased its holdings in shares of Republic Services by 9.8% in the 3rd quarter. Rench Wealth Management Inc. now owns 22,805 shares of the business services provider's stock valued at $4,580,000 after purchasing an additional 2,034 shares during the period. Resurgent Financial Advisors LLC increased its holdings in Republic Services by 4.3% in the third quarter. Resurgent Financial Advisors LLC now owns 3,155 shares of the business services provider's stock worth $634,000 after buying an additional 130 shares during the last quarter. Polar Asset Management Partners Inc. acquired a new position in Republic Services during the third quarter valued at approximately $1,587,000. Finally, Parallax Volatility Advisers L.P. acquired a new position in Republic Services during the third quarter valued at approximately $595,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Price Performance

Shares of RSG traded up $1.20 during trading hours on Friday, hitting $216.68. 1,053,775 shares of the company were exchanged, compared to its average volume of 929,871. The company has a market cap 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. Republic Services, Inc. has a fifty-two week low of $160.41 and a fifty-two week high of $220.58. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. The firm's fifty day moving average is $207.56 and its 200 day moving average is $200.98.

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

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be given a $0.58 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 annualized dividend and a yield of 1.07%. Republic Services's dividend payout ratio is presently 37.12%.

Insider Buying and Selling at Republic Services

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of the stock in a transaction dated 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 directly owns 6,318 shares in the company, valued at approximately $1,326,906.36. This trade represents a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.09% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RSG. BMO Capital Markets upgraded Republic Services from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $211.00 to $238.00 in a research note on Friday. Oppenheimer boosted their target price on Republic Services from $219.00 to $220.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Truist Financial boosted their target price on Republic Services from $220.00 to $244.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Morgan Stanley upped 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. Finally, Scotiabank began coverage on Republic Services in a research note on Friday, October 4th. They issued a "sector perform" rating and a $224.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Republic Services presently has an average rating of "Moderate Buy" and a consensus price target of $217.88.

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.