TCW Group Inc. Acquires 13,138 Shares of Republic Services, Inc. (NYSE:RSG)

TCW Group Inc. lifted its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 13.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 114,582 shares of the business services provider's stock after buying an additional 13,138 shares during the quarter. TCW Group Inc.'s holdings in Republic Services were worth $23,013,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of RSG. Stifel Financial Corp raised its holdings in shares of Republic Services by 437.9% during the 3rd quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider's stock worth $364,449,000 after acquiring an additional 1,477,255 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Republic Services by 23.2% during the 3rd quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider's stock valued at $1,205,883,000 after buying an additional 1,131,850 shares in the last quarter. International Assets Investment Management LLC raised its position in Republic Services by 83,671.9% during the third quarter. International Assets Investment Management LLC now owns 538,653 shares of the business services provider's stock valued at $108,183,000 after purchasing an additional 538,010 shares during the period. National Bank of Canada FI lifted its position in Republic Services by 544.7% in the third quarter. National Bank of Canada FI now owns 545,613 shares of the business services provider's stock worth $109,580,000 after buying an additional 460,989 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its stake in shares of Republic Services by 169.3% during the 3rd quarter. Two Sigma Advisers LP now owns 554,500 shares of the business services provider's stock worth $111,366,000 after purchasing an additional 348,600 shares during the period. 57.73% of the stock is currently owned by institutional investors.

Republic Services Stock Down 0.7 %

RSG stock traded down $1.39 during mid-day trading on Wednesday, reaching $210.30. The company had a trading volume of 835,883 shares, compared to its average volume of 1,112,415. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a 50 day simple moving average of $207.99 and a two-hundred day simple moving average of $201.44. Republic Services, Inc. has a 52 week low of $160.65 and a 52 week high of $220.58. The company has a market capitalization of $65.86 billion, a price-to-earnings ratio of 33.90, a PEG ratio of 3.31 and a beta of 0.71.

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, topping analysts' consensus estimates of $1.61 by $0.20. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The firm had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same quarter in the prior year, the business posted $1.54 EPS. The business's revenue was up 6.5% compared to the same quarter last year. As a group, equities analysts predict that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The firm also recently declared 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. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 1.10%. Republic Services's payout ratio is currently 37.12%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on RSG shares. Deutsche Bank Aktiengesellschaft raised Republic Services from a "hold" rating to a "buy" rating and raised their price target for the stock from $219.00 to $237.00 in a research note on Tuesday. Truist Financial upped their target price on Republic Services from $220.00 to $244.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. CIBC lifted their price target on shares of Republic Services from $217.00 to $227.00 and gave the stock a "neutral" rating in a report on Wednesday, December 4th. William Blair began coverage on Republic Services in a research note on Thursday, October 3rd. They set an "outperform" rating on the stock. Finally, Morgan Stanley boosted their price target on Republic Services from $208.00 to $217.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $219.88.

Insider Activity at Republic Services

In other 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 sale, the chief financial officer now directly owns 6,318 shares of the company's stock, valued at approximately $1,326,906.36. This represents a 44.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Katharine Weymouth sold 1,859 shares of Republic Services stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $215.27, for a total value of $400,186.93. Following the sale, the director now directly owns 879 shares of the company's stock, valued at approximately $189,222.33. This trade represents a 67.90 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

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.