BNP PARIBAS ASSET MANAGEMENT Holding S.A. Acquires 147,799 Shares of Republic Services, Inc. (NYSE:RSG)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 31.7% during the third quarter, HoldingsChannel reports. The fund owned 614,586 shares of the business services provider’s stock after purchasing an additional 147,799 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Republic Services were worth $123,434,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on RSG. Scotiabank initiated coverage on shares of 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. William Blair started coverage on Republic Services in a report on Thursday, October 3rd. They set an “outperform” rating for the company. Morgan Stanley boosted their price objective on Republic Services from $208.00 to $217.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Stifel Nicolaus raised their target price on Republic Services from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, 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. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average 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 that occurred on Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the sale, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is currently owned by company insiders.

Republic Services Price Performance

Shares of NYSE:RSG opened at $212.62 on Thursday. Republic Services, Inc. has a fifty-two week low of $158.68 and a fifty-two week high of $216.18. The company’s 50-day moving average is $204.17 and its 200 day moving average is $198.54. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64. The company has a market capitalization of $66.58 billion, a P/E ratio of 34.02, a price-to-earnings-growth ratio of 3.22 and a beta of 0.70.

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

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.58 per share. 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 1.09%. Republic Services’s dividend payout ratio is presently 37.12%.

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.