Verition Fund Management LLC Acquires 31,911 Shares of Republic Services, Inc. (NYSE:RSG)

Verition Fund Management LLC grew its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 83.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,040 shares of the business services provider's stock after buying an additional 31,911 shares during the quarter. Verition Fund Management LLC's holdings in Republic Services were worth $14,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its holdings 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 valued at $506,265,000 after buying an additional 57,040 shares during the last quarter. Legal & General Group Plc lifted its holdings in Republic Services by 5.4% in the 2nd quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider's stock worth $351,480,000 after purchasing an additional 92,013 shares during the last quarter. TD Asset Management Inc lifted its holdings in 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 last quarter. Bank of New York Mellon Corp lifted its holdings in Republic Services by 0.3% in the 2nd 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 purchasing an additional 3,809 shares during the last quarter. Finally, Earnest Partners LLC lifted its holdings in Republic Services by 1.9% in the 2nd quarter. Earnest Partners LLC now owns 1,286,053 shares of the business services provider's stock worth $249,932,000 after purchasing an additional 23,534 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Republic Services

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the company's 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 sale, the chief financial officer now owns 6,318 shares in the company, valued at approximately $1,326,906.36. This represents a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.09% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on RSG shares. Morgan Stanley boosted their target price on Republic Services from $208.00 to $217.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Royal Bank of Canada lifted their price target on Republic Services from $211.00 to $219.00 and gave the stock a "sector perform" rating in a research report on Wednesday, October 30th. Truist Financial lifted their price target on Republic Services from $220.00 to $244.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. CIBC lifted their price target on Republic Services from $208.00 to $217.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Finally, Oppenheimer lifted their price target on Republic Services from $219.00 to $220.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $215.71.

Republic Services Price Performance

Republic Services stock traded up $0.02 on Friday, reaching $218.30. The company's stock had a trading volume of 631,459 shares, compared to its average volume of 1,117,714. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64. The company has a market cap of $68.36 billion, a price-to-earnings ratio of 34.93, a PEG ratio of 3.34 and a beta of 0.70. The business's fifty day moving average price is $206.22 and its 200 day moving average price is $199.98. Republic Services, Inc. has a twelve month low of $159.38 and a twelve month high of $220.58.

Republic Services (NYSE:RSG - Get Free Report) last issued 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 return on equity of 18.18% and a net margin of 12.46%. The business 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 firm posted $1.54 earnings per share. The firm's revenue for the quarter was up 6.5% compared to the same quarter last year. Equities analysts expect that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Announces Dividend

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

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.