Barclays PLC Raises Holdings in Republic Services, Inc. (NYSE:RSG)

Barclays PLC boosted its stake in Republic Services, Inc. (NYSE:RSG) by 11.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 675,163 shares of the business services provider’s stock after buying an additional 66,842 shares during the quarter. Barclays PLC owned approximately 0.22% of Republic Services worth $135,598,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake in shares of Republic Services by 23.2% during the third 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 acquiring an additional 1,131,850 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Republic Services by 2.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,520,738 shares of the business services provider’s stock worth $506,265,000 after buying an additional 57,040 shares in the last quarter. Stifel Financial Corp raised its position in shares of Republic Services by 437.9% in the third quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock valued at $364,449,000 after buying an additional 1,477,255 shares during the last quarter. Legal & General Group Plc boosted its position in Republic Services by 5.4% during the second quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider’s stock worth $351,480,000 after acquiring an additional 92,013 shares during the last quarter. Finally, TD Asset Management Inc grew its stake 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 acquiring an additional 35,650 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insiders Place Their Bets

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the completion of the transaction, the chief financial officer now directly owns 6,318 shares of the company’s stock, valued at $1,326,906.36. This trade represents a 44.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Katharine Weymouth sold 1,859 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $215.27, for a total transaction of $400,186.93. Following the completion of the sale, the director now owns 879 shares in the company, 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 company insiders.

Republic Services Stock Down 0.3 %

NYSE RSG opened at $211.63 on Wednesday. The stock has a market cap of $66.27 billion, a PE ratio of 33.86, a P/E/G ratio of 3.31 and a beta of 0.71. The business has a 50 day moving average price of $207.79 and a two-hundred day moving average price of $201.26. Republic Services, Inc. has a fifty-two week low of $160.65 and a fifty-two week high of $220.58. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07.

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. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The business had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same period last year, the business earned $1.54 EPS. The business’s revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts predict 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. Investors 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 yield of 1.10%. The ex-dividend date is Thursday, January 2nd. Republic Services’s dividend payout ratio is currently 37.12%.

Wall Street Analysts Forecast Growth

RSG has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised Republic Services from a “hold” rating to a “buy” rating and increased their price target for the stock from $219.00 to $237.00 in a research note on Tuesday. CIBC lifted their price target on Republic Services from $217.00 to $227.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. William Blair began coverage on shares of Republic Services in a report on Thursday, October 3rd. They set an “outperform” rating on the stock. Scotiabank began coverage on shares of Republic Services in a research report on Friday, October 4th. They set a “sector perform” rating and a $224.00 price target for the company. Finally, Royal Bank of Canada lifted their price target on shares of Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $219.88.

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.