Two Sigma Advisers LP Boosts Stake in Republic Services, Inc. (NYSE:RSG)

Two Sigma Advisers LP lifted its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 169.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 554,500 shares of the business services provider's stock after purchasing an additional 348,600 shares during the quarter. Two Sigma Advisers LP owned about 0.18% of Republic Services worth $111,366,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Stifel Financial Corp lifted its position 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 valued at $364,449,000 after acquiring an additional 1,477,255 shares during the period. Quantinno Capital Management LP raised its holdings in Republic Services by 27.4% during the third quarter. Quantinno Capital Management LP now owns 31,400 shares of the business services provider's stock worth $6,306,000 after purchasing an additional 6,752 shares during the last quarter. Quarry LP grew its holdings in Republic Services by 471.7% in 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 position in shares of Republic Services by 9.8% in the third quarter. Rench Wealth Management Inc. now owns 22,805 shares of the business services provider's stock valued at $4,580,000 after buying an additional 2,034 shares in the last quarter. Finally, Resurgent Financial Advisors LLC raised its stake in shares of Republic Services by 4.3% during the 3rd 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. Hedge funds and other institutional investors own 57.73% of the company's stock.

Analysts Set New Price Targets

RSG has been the subject of several recent research reports. CIBC raised their target price on shares of Republic Services from $217.00 to $227.00 and gave the company a "neutral" rating in a report on Wednesday. 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 report on Wednesday, October 30th. Oppenheimer increased their target price on Republic Services from $219.00 to $220.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Truist Financial boosted their price target on Republic Services from $220.00 to $244.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Finally, BMO Capital Markets raised Republic Services from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $211.00 to $238.00 in a research note on Friday. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $217.88.

Insider Activity

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the firm's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the sale, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.09% of the company's stock.

Republic Services Trading Up 0.5 %

Shares of RSG stock traded up $1.13 on Friday, reaching $216.61. 463,005 shares of the stock were exchanged, compared to its average volume of 1,113,286. 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 stock has a market cap of $67.83 billion, a P/E ratio of 34.72, a price-to-earnings-growth ratio of 3.28 and a beta of 0.71. The firm has a 50 day moving average of $207.21 and a two-hundred day moving average of $200.67. Republic Services, Inc. has a 1-year low of $160.41 and a 1-year high of $220.58.

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

Republic Services Dividend Announcement

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

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.