CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Acquires 2,000 Shares of Republic Services, Inc. (NYSE:RSG)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in Republic Services, Inc. (NYSE:RSG) by 22.2% in the 3rd quarter, Holdings Channel reports. The firm owned 11,000 shares of the business services provider’s stock after buying an additional 2,000 shares during the quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Republic Services were worth $2,209,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Wolff Wiese Magana LLC grew its holdings in Republic Services by 351.6% during the third quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 109 shares during the last quarter. EntryPoint Capital LLC acquired a new position in Republic Services in the 1st quarter valued at $29,000. Webster Bank N. A. bought a new position in Republic Services in the 3rd quarter worth $31,000. Itau Unibanco Holding S.A. acquired a new position in Republic Services during the 2nd quarter worth $36,000. Finally, Indiana Trust & Investment Management CO bought a new stake in Republic Services during the second quarter valued at about $45,000. 57.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Scotiabank started coverage on Republic Services in a research report on Friday, October 4th. They set a “sector perform” rating and a $224.00 price objective for the company. CIBC raised their price target on shares of Republic Services from $196.00 to $208.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Royal Bank of Canada increased their target price on shares of Republic Services from $201.00 to $211.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Truist Financial upgraded Republic Services from a “hold” rating to a “buy” rating and boosted their price target for the company from $192.00 to $220.00 in a research note on Thursday, July 11th. Finally, Robert W. Baird boosted their price objective on Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Republic Services has a consensus rating of “Moderate Buy” and a consensus price target of $212.18.

Republic Services Price Performance

Shares of NYSE RSG traded down $0.34 during trading on Tuesday, reaching $203.77. The company had a trading volume of 213,699 shares, compared to its average volume of 1,135,247. Republic Services, Inc. has a 52 week low of $142.65 and a 52 week high of $208.69. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.59 and a current ratio of 0.59. The business’s 50 day moving average price is $204.01 and its 200-day moving average price is $196.06. The stock has a market cap of $64.00 billion, a PE ratio of 34.19, a PEG ratio of 3.29 and a beta of 0.69.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.08. The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.03 billion. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. Analysts expect that Republic Services, Inc. will post 6.18 earnings per share for the current year.

Republic Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd were paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 1.14%. The ex-dividend date was Wednesday, October 2nd. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s dividend payout ratio (DPR) is 38.86%.

Insider Buying and Selling

In other Republic Services news, Director Tomago Collins sold 3,200 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $203.01, for a total value of $649,632.00. Following the transaction, the director now directly owns 17,486 shares of the company’s stock, valued at approximately $3,549,832.86. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is currently owned by insiders.

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.