Oppenheimer & Co. Inc. Lowers Holdings in Republic Services, Inc. (NYSE:RSG)

Oppenheimer & Co. Inc. lowered its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 26.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,996 shares of the business services provider's stock after selling 3,510 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Republic Services were worth $2,008,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. lifted its holdings in Republic Services by 15.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 5,663 shares of the business services provider's stock worth $1,137,000 after buying an additional 746 shares in the last quarter. PGGM Investments raised its position in shares of Republic Services by 264.3% in the second quarter. PGGM Investments now owns 8,842 shares of the business services provider's stock valued at $1,718,000 after buying an additional 6,415 shares in the last quarter. Natixis increased its stake in Republic Services by 78.6% in the first quarter. Natixis now owns 27,858 shares of the business services provider's stock valued at $5,333,000 after acquiring an additional 12,260 shares during the last quarter. YCG LLC increased its holdings in Republic Services by 2.2% in the third quarter. YCG LLC now owns 208,232 shares of the business services provider's stock valued at $41,821,000 after purchasing an additional 4,428 shares during the period. Finally, AXA S.A. boosted its stake in shares of Republic Services by 1.8% in the 2nd quarter. AXA S.A. now owns 640,563 shares of the business services provider's stock valued at $124,487,000 after purchasing an additional 11,408 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company's stock.

Republic Services Stock Performance

NYSE:RSG traded up $1.12 during trading on Monday, reaching $209.16. The company's stock had a trading volume of 229,447 shares, compared to its average volume of 1,119,671. The firm has a 50 day moving average of $203.84 and a 200-day moving average of $198.10. The firm has a market cap of $65.50 billion, a price-to-earnings ratio of 33.29, a price-to-earnings-growth ratio of 3.18 and a beta of 0.70. Republic Services, Inc. has a 12 month low of $157.91 and a 12 month high of $216.18. 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 announced 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. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The firm had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the previous year, the company posted $1.54 earnings per share. The business's revenue was up 6.5% on a year-over-year basis. Research analysts expect that Republic Services, Inc. will post 6.24 EPS for the current fiscal year.

Republic Services Announces Dividend

The business 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. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Thursday, January 2nd. Republic Services's dividend payout ratio (DPR) is 37.12%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RSG. Truist Financial lifted their price objective on shares of Republic Services from $220.00 to $244.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Scotiabank assumed coverage on shares of Republic Services in a research note on Friday, October 4th. They issued a "sector perform" rating and a $224.00 price objective for the company. Robert W. Baird lifted their price objective on shares of Republic Services from $208.00 to $210.00 and gave the stock a "neutral" rating in a report on Thursday, July 25th. TD Cowen boosted their price objective on shares of Republic Services from $195.00 to $200.00 and gave the company a "hold" rating in a research report on Monday, August 5th. Finally, Oppenheimer boosted their price objective on shares of Republic Services from $219.00 to $220.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $215.71.

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.