Corundum Group Inc. Grows Stock Position in Republic Services, Inc. (NYSE:RSG)

Corundum Group Inc. increased its stake in shares of Republic Services, Inc. (NYSE:RSG) by 4.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,917 shares of the business services provider’s stock after buying an additional 127 shares during the quarter. Corundum Group Inc.’s holdings in Republic Services were worth $586,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in RSG. Allspring Global Investments Holdings LLC increased its holdings 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 valued at $506,265,000 after purchasing an additional 57,040 shares during the period. Compass Ion Advisors LLC increased its holdings in Republic Services by 24.9% in the 3rd quarter. Compass Ion Advisors LLC now owns 1,308 shares of the business services provider’s stock worth $263,000 after buying an additional 261 shares during the period. Raymond James & Associates raised its position in Republic Services by 3.1% during the 3rd quarter. Raymond James & Associates now owns 772,718 shares of the business services provider’s stock worth $155,193,000 after buying an additional 23,270 shares during the last quarter. Capital Investment Advisors LLC boosted its holdings in shares of Republic Services by 17.2% in the 3rd quarter. Capital Investment Advisors LLC now owns 9,350 shares of the business services provider’s stock valued at $1,878,000 after acquiring an additional 1,370 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Republic Services by 44.5% in the third quarter. Blue Trust Inc. now owns 4,679 shares of the business services provider’s stock worth $909,000 after acquiring an additional 1,440 shares during the period. 57.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. BMO Capital Markets boosted their price objective on Republic Services from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Robert W. Baird lifted their target price on shares of Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. TD Cowen raised 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. Scotiabank initiated coverage on shares of Republic Services in a research note on Friday, October 4th. They set a “sector perform” rating and a $224.00 target price on the stock. Finally, Truist Financial raised Republic Services from a “hold” rating to a “buy” rating and upped their price target for the stock from $192.00 to $220.00 in a report on Thursday, July 11th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $211.65.

Insider Buying and Selling at Republic Services

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

Republic Services Trading Down 0.4 %

Shares of Republic Services stock opened at $204.80 on Monday. Republic Services, Inc. has a 1-year low of $142.65 and a 1-year high of $208.69. The stock has a market cap of $64.50 billion, a P/E ratio of 35.93, a P/E/G ratio of 3.30 and a beta of 0.69. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.59 and a quick ratio of 0.59. The stock’s 50 day simple moving average is $203.92 and its 200-day simple moving average is $195.94.

Republic Services (NYSE:RSG) last issued its earnings results on Wednesday, July 24th. The business services provider reported $1.61 EPS for the quarter, topping 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 company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.03 billion. Analysts predict that Republic Services, Inc. will post 6.18 EPS for the current fiscal year.

Republic Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 1.13%. This is a boost from Republic Services’s previous quarterly dividend of $0.54. The ex-dividend date was Wednesday, October 2nd. Republic Services’s dividend payout ratio (DPR) is 40.70%.

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.