Republic Services, Inc. (NYSE:RSG) Position Boosted by Townsquare Capital LLC

Townsquare Capital LLC grew its holdings in Republic Services, Inc. (NYSE:RSG) by 3.5% during the third quarter, Holdings Channel.com reports. The firm owned 56,408 shares of the business services provider’s stock after buying an additional 1,920 shares during the period. Townsquare Capital LLC’s holdings in Republic Services were worth $11,329,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. BNP Paribas Financial Markets increased its holdings in shares of Republic Services by 25.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 421,562 shares of the business services provider’s stock valued at $84,667,000 after purchasing an additional 86,500 shares during the period. Partners Group Holding AG grew its stake in shares of Republic Services by 41.4% in the 3rd quarter. Partners Group Holding AG now owns 347,885 shares of the business services provider’s stock valued at $69,869,000 after buying an additional 101,831 shares in the last quarter. Covington Investment Advisors Inc. bought a new stake in shares of Republic Services in the 3rd quarter valued at approximately $211,000. Quantbot Technologies LP bought a new stake in shares of Republic Services in the 3rd quarter valued at approximately $6,579,000. Finally, D.A. Davidson & CO. grew its stake in shares of Republic Services by 1.0% in the 3rd quarter. D.A. Davidson & CO. now owns 12,697 shares of the business services provider’s stock valued at $2,550,000 after buying an additional 129 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Stock Down 0.2 %

RSG opened at $218.28 on Thursday. Republic Services, Inc. has a 1-year low of $159.10 and a 1-year high of $220.58. 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 $68.35 billion, a price-to-earnings ratio of 34.92, a P/E/G ratio of 3.33 and a beta of 0.70. The business has a 50 day moving average of $205.53 and a 200-day moving average of $199.56.

Republic Services (NYSE:RSG) last posted 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 company had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same period in the prior year, the business earned $1.54 earnings per share. Republic Services’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Republic Services, Inc. will post 6.24 earnings per share for the current year.

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be paid a $0.58 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.06%. Republic Services’s payout ratio is 37.12%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Truist Financial boosted their price target on Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. William Blair assumed coverage on Republic Services in a research note on Thursday, October 3rd. They issued an “outperform” rating for the company. TD Cowen boosted their price target on Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a research note on Monday, August 5th. Royal Bank of Canada upped their target price on Republic Services from $211.00 to $219.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley upped their target price 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. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Republic Services has a consensus rating of “Moderate Buy” and a consensus price target of $215.71.

Insider Activity 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 value 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 approximately $1,326,906.36. This represents a 44.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

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.