Sierra Ocean LLC Invests $214,000 in Republic Services, Inc. (NYSE:RSG)

Sierra Ocean LLC bought a new stake in Republic Services, Inc. (NYSE:RSG) in the 4th quarter, Holdings Channel.com reports. The fund bought 1,065 shares of the business services provider’s stock, valued at approximately $214,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Creative Planning boosted its position in shares of Republic Services by 8.1% in the third quarter. Creative Planning now owns 31,447 shares of the business services provider’s stock worth $6,316,000 after acquiring an additional 2,360 shares during the last quarter. Good Life Advisors LLC boosted its holdings in shares of Republic Services by 12.3% in the 3rd quarter. Good Life Advisors LLC now owns 1,207 shares of the business services provider’s stock valued at $242,000 after purchasing an additional 132 shares during the last quarter. Bleakley Financial Group LLC grew its stake in shares of Republic Services by 30.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 6,878 shares of the business services provider’s stock valued at $1,381,000 after buying an additional 1,611 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Republic Services by 5.7% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 28,962 shares of the business services provider’s stock worth $5,817,000 after buying an additional 1,569 shares during the period. Finally, V Square Quantitative Management LLC boosted its holdings in Republic Services by 11.3% in the third quarter. V Square Quantitative Management LLC now owns 2,843 shares of the business services provider’s stock valued at $571,000 after acquiring an additional 288 shares during the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Price Performance

Shares of RSG stock opened at $230.98 on Monday. The firm has a fifty day moving average of $210.94 and a two-hundred day moving average of $207.43. The firm has a market cap of $72.33 billion, a P/E ratio of 36.96, a P/E/G ratio of 3.24 and a beta of 0.74. Republic Services, Inc. has a 1-year low of $177.03 and a 1-year high of $232.52. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.21. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same period in the previous year, the company earned $1.41 earnings per share. As a group, research analysts anticipate that Republic Services, Inc. will post 6.25 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s dividend payout ratio is presently 37.12%.

Insider Buying and Selling at Republic Services

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 transaction of $1,065,011.42. Following the completion of the transaction, the chief financial officer now directly owns 6,318 shares in the company, valued at $1,326,906.36. This represents a 44.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Katharine Weymouth sold 1,859 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $215.27, for a total value of $400,186.93. Following the completion of the sale, the director now owns 879 shares in the company, valued at $189,222.33. The trade was a 67.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Royal Bank of Canada upgraded Republic Services from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $219.00 to $237.00 in a research note on Monday, January 6th. BMO Capital Markets upgraded shares of Republic Services from a “market perform” rating to an “outperform” rating and raised their price target for the company from $211.00 to $238.00 in a report on Friday, December 6th. Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a “hold” rating to a “buy” rating and increased their price objective for the stock from $219.00 to $237.00 in a research report on Tuesday, December 10th. William Blair restated an “outperform” rating on shares of Republic Services in a report on Friday. Finally, Truist Financial reissued a “buy” rating and issued a $250.00 price objective (up from $244.00) on shares of Republic Services in a research report on Friday. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $225.38.

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.