Blueshift Asset Management LLC Lowers Holdings in Republic Services, Inc. (NYSE:RSG)

Blueshift Asset Management LLC decreased its stake in Republic Services, Inc. (NYSE:RSG) by 32.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,227 shares of the business services provider’s stock after selling 2,996 shares during the quarter. Blueshift Asset Management LLC’s holdings in Republic Services were worth $1,251,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in RSG. Allspring Global Investments Holdings LLC lifted its position in shares of Republic Services by 2.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,520,738 shares of the business services provider’s stock valued at $506,265,000 after buying an additional 57,040 shares in the last quarter. Legal & General Group Plc grew its position in shares of Republic Services by 5.4% in the second quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider’s stock valued at $351,480,000 after purchasing an additional 92,013 shares during the period. TD Asset Management Inc increased its stake in shares of Republic Services by 2.1% during the second quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider’s stock worth $341,602,000 after purchasing an additional 35,650 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Republic Services by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,476,116 shares of the business services provider’s stock worth $286,868,000 after purchasing an additional 3,809 shares during the last quarter. Finally, Earnest Partners LLC lifted its stake in Republic Services by 1.9% in the 2nd quarter. Earnest Partners LLC now owns 1,286,053 shares of the business services provider’s stock valued at $249,932,000 after buying an additional 23,534 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Activity

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 6,318 shares in the company, valued at $1,326,906.36. The trade was a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.09% of the company’s stock.

Republic Services Stock Performance

NYSE:RSG opened at $218.80 on Wednesday. The company has a market cap of $68.52 billion, a price-to-earnings ratio of 35.01, a price-to-earnings-growth ratio of 3.33 and a beta of 0.70. 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, Inc. has a 52 week low of $159.10 and a 52 week high of $219.94. The company has a fifty day simple moving average of $205.15 and a two-hundred day simple moving average of $199.43.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.20. The company had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. Republic Services’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.54 EPS. As a group, equities analysts anticipate that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

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

Analysts Set New Price Targets

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