Republic Services, Inc. (NYSE:RSG) Shares Acquired by Investment Management Corp of Ontario

Investment Management Corp of Ontario raised its stake in Republic Services, Inc. (NYSE:RSG) by 48.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,307 shares of the business services provider’s stock after buying an additional 2,400 shares during the period. Investment Management Corp of Ontario’s holdings in Republic Services were worth $1,468,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Simmons Bank boosted its position in shares of Republic Services by 2.8% in the 3rd quarter. Simmons Bank now owns 1,895 shares of the business services provider’s stock valued at $381,000 after purchasing an additional 51 shares during the period. Hantz Financial Services Inc. boosted its holdings in shares of Republic Services by 1.0% in the third quarter. Hantz Financial Services Inc. now owns 5,099 shares of the business services provider’s stock worth $1,024,000 after buying an additional 52 shares during the period. RFG Advisory LLC raised its holdings in shares of Republic Services by 0.5% during the second quarter. RFG Advisory LLC now owns 10,603 shares of the business services provider’s stock valued at $2,061,000 after acquiring an additional 53 shares during the period. Commerzbank Aktiengesellschaft FI lifted its position in shares of Republic Services by 2.9% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 1,860 shares of the business services provider’s stock valued at $362,000 after acquiring an additional 53 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in Republic Services by 16.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 382 shares of the business services provider’s stock worth $77,000 after purchasing an additional 54 shares during the period. 57.73% of the stock is owned by institutional investors.

Republic Services Trading Up 0.0 %

NYSE:RSG opened at $215.58 on Friday. Republic Services, Inc. has a 1-year low of $160.38 and a 1-year high of $220.58. 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 firm has a market capitalization of $67.51 billion, a price-to-earnings ratio of 34.49, a PEG ratio of 3.28 and a beta of 0.71. The business’s 50-day moving average price is $207.21 and its two-hundred day moving average price is $200.67.

Republic Services (NYSE:RSG) last posted its quarterly earnings data 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. 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 analysts’ expectations of $4.12 billion. During the same period in the prior year, the firm earned $1.54 earnings per share. Republic Services’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities analysts expect that Republic Services, Inc. will post 6.24 earnings per share for the current year.

Republic Services Announces Dividend

The business also recently disclosed 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 is Thursday, January 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.08%. Republic Services’s dividend payout ratio is currently 37.12%.

Insider Activity at Republic Services

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of the stock in a transaction dated 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 directly owns 6,318 shares in the company, valued at approximately $1,326,906.36. This trade represents a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RSG. Oppenheimer increased their target price on Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. CIBC increased their price objective on Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a research note on Wednesday. William Blair began coverage on Republic Services in a research report on Thursday, October 3rd. They set an “outperform” rating for the company. Royal Bank of Canada upped 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. Finally, 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 report on Wednesday, October 30th. Nine research 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.com, Republic Services has an average rating of “Moderate Buy” and a consensus price target of $216.29.

Republic Services 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.