CHB Investment Group LLC Invests $2.81 Million in Republic Services, Inc. (NYSE:RSG)

CHB Investment Group LLC bought a new position in Republic Services, Inc. (NYSE:RSG) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 13,970 shares of the business services provider’s stock, valued at approximately $2,806,000. Republic Services accounts for 1.5% of CHB Investment Group LLC’s portfolio, making the stock its 28th largest position.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RSG. Wolff Wiese Magana LLC lifted its stake in shares of Republic Services by 351.6% in 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 period. EntryPoint Capital LLC acquired a new stake in shares of Republic Services in the first quarter valued at about $29,000. Webster Bank N. A. acquired a new stake in shares of Republic Services in the third quarter valued at about $31,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Republic Services in the second quarter valued at about $36,000. Finally, Indiana Trust & Investment Management CO acquired a new stake in shares of Republic Services in the second quarter valued at about $45,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Stock Down 0.7 %

Shares of NYSE:RSG opened at $204.18 on Friday. The stock has a market capitalization of $64.13 billion, a price-to-earnings ratio of 34.44, a price-to-earnings-growth ratio of 3.30 and a beta of 0.69. Republic Services, Inc. has a 1-year low of $142.65 and a 1-year high of $208.69. The company’s fifty day moving average is $203.85 and its two-hundred day moving average is $195.74. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.59 and a current ratio of 0.59.

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

Republic Services Increases Dividend

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

Analyst Ratings Changes

Several research firms have weighed in on RSG. BMO Capital Markets raised their target price on shares of Republic Services from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. StockNews.com lowered shares of Republic Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Oppenheimer cut their price objective on shares of Republic Services from $211.00 to $210.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. CIBC boosted their price objective on shares of Republic Services from $196.00 to $208.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Finally, Truist Financial raised shares of Republic Services from a “hold” rating to a “buy” rating and boosted their price objective for the company from $192.00 to $220.00 in a research report on Thursday, July 11th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $211.65.

Insiders Place Their Bets

In other Republic Services news, Director Tomago Collins sold 3,200 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $203.01, for a total value of $649,632.00. Following the completion of the transaction, the director now directly owns 17,486 shares in the company, valued at $3,549,832.86. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.09% of the company’s stock.

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.