Benjamin Edwards Inc. Purchases 212,865 Shares of Republic Services, Inc. (NYSE:RSG)

Benjamin Edwards Inc. lifted its position in shares of Republic Services, Inc. (NYSE:RSG) by 1,626.8% during the third quarter, Holdings Channel reports. The institutional investor owned 225,950 shares of the business services provider’s stock after purchasing an additional 212,865 shares during the period. Benjamin Edwards Inc.’s holdings in Republic Services were worth $45,387,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. FSA Wealth Management LLC purchased a new position in Republic Services in the 3rd quarter worth approximately $25,000. Wolff Wiese Magana LLC boosted its position in shares of Republic Services by 351.6% during the third quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock worth $28,000 after acquiring an additional 109 shares during the last quarter. Webster Bank N. A. purchased a new position in Republic Services during the third quarter valued at $31,000. Truvestments Capital LLC bought a new position in shares of Republic Services during the 3rd quarter valued at about $34,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Republic Services in the second quarter worth about $36,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 6,318 shares of the company’s stock, valued at $1,326,906.36. This represents a 44.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Republic Services Stock Up 0.0 %

Shares of NYSE RSG opened at $218.30 on Monday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $68.36 billion, a PE ratio of 34.93, a price-to-earnings-growth ratio of 3.34 and a beta of 0.70. Republic Services, Inc. has a 12-month low of $159.38 and a 12-month high of $220.58. The stock’s fifty day simple moving average is $206.22 and its two-hundred day simple moving average is $200.08.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.20. The business had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The company’s revenue was up 6.5% compared to the same quarter last year. During the same period last year, the business earned $1.54 EPS. As a group, analysts expect that Republic Services, Inc. will post 6.24 EPS for the current fiscal year.

Republic Services Dividend Announcement

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 paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s dividend payout ratio (DPR) is presently 37.12%.

Analyst Ratings Changes

Several equities analysts have weighed in on RSG shares. William Blair initiated coverage on Republic Services in a report on Thursday, October 3rd. They set an “outperform” rating for the company. Truist Financial upped their price target on shares of Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research note 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. Oppenheimer upped their target price on shares of Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley boosted 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. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $215.71.

Republic Services Company 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.