Freedom Investment Management Inc. Raises Holdings in Republic Services, Inc. (NYSE:RSG)

Freedom Investment Management Inc. grew its position in Republic Services, Inc. (NYSE:RSG) by 2.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,530 shares of the business services provider’s stock after purchasing an additional 121 shares during the quarter. Freedom Investment Management Inc.’s holdings in Republic Services were worth $1,111,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Wolff Wiese Magana LLC lifted its holdings in Republic Services by 351.6% during the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock worth $28,000 after buying an additional 109 shares during the last quarter. Webster Bank N. A. acquired a new position in Republic Services in the third quarter valued at approximately $31,000. Truvestments Capital LLC purchased a new position in Republic Services in the third quarter valued at approximately $34,000. Itau Unibanco Holding S.A. acquired a new stake in Republic Services during the second quarter worth approximately $36,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Republic Services during the 3rd quarter worth approximately $39,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Stock Performance

Shares of RSG stock opened at $218.28 on Thursday. 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 50 day simple moving average of $205.53 and a 200-day simple moving average of $199.56. The company has a market cap of $68.35 billion, a price-to-earnings ratio of 34.92, a price-to-earnings-growth ratio of 3.33 and a beta of 0.70. Republic Services, Inc. has a 12-month low of $159.10 and a 12-month high of $220.58.

Republic Services (NYSE:RSG) last released its earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $4.12 billion. During the same quarter last year, the company earned $1.54 earnings per share. Republic Services’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities analysts forecast that Republic Services, Inc. will post 6.24 EPS for the current year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued 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 yield of 1.06%. Republic Services’s dividend payout ratio (DPR) is presently 37.12%.

Insider Activity

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the firm’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 owns 6,318 shares in the company, valued at $1,326,906.36. This trade represents a 44.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

RSG has been the topic of several research analyst reports. William Blair began coverage on shares of Republic Services in a research note on Thursday, October 3rd. They set an “outperform” rating on the stock. Royal Bank of Canada boosted their target price on Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Truist Financial raised their price target on Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Oppenheimer increased their price objective on Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, TD Cowen upped their price target on shares of Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Republic Services has a consensus rating of “Moderate Buy” and a consensus 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.