M Holdings Securities Inc. purchased a new position in Republic Services, Inc. (NYSE:RSG – Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,436 shares of the business services provider’s stock, valued at approximately $3,030,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Korea Investment CORP purchased a new position in Republic Services in the 2nd quarter worth about $20,602,000. Equitable Holdings Inc. bought a new stake in Republic Services during the 2nd quarter valued at about $1,381,000. Public Employees Retirement System of Ohio bought a new stake in Republic Services during the 2nd quarter valued at about $16,335,000. Bridgewater Advisors Inc. purchased a new stake in Republic Services in the 2nd quarter valued at about $535,000. Finally, Rakuten Investment Management Inc. purchased a new stake in Republic Services in the 2nd quarter valued at about $7,032,000. 57.73% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have commented on RSG. BMO Capital Markets set a $244.00 target price on shares of Republic Services in a research note on Thursday, October 15th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Republic Services from $270.00 to $258.00 in a research note on Friday, October 9th. The Goldman Sachs Group lowered their price target on Republic Services from $256.00 to $246.00 and set a “buy” rating for the company in a report on Friday, October 2nd. Raymond James Financial set a $235.00 price objective on Republic Services in a research note on Friday, October 9th. Finally, JPMorgan Chase & Co. raised their price objective on Republic Services from $245.00 to $265.00 and gave the stock a “neutral” rating in a report on Friday, October 30th. Twelve analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $249.32.
Get Our Latest Stock Analysis on Republic Services
Insider Transactions at Republic Services
In other Republic Services news, major shareholder Cascade Investment, L.L.C. purchased 409,500 shares of Republic Services stock in a transaction on Tuesday, September 8th. The stock was bought at an average cost of $221.49 per share, with a total value of $90,700,155.00. Following the transaction, the insider owned 116,166,330 shares of the company’s stock, valued at $25,729,680,431.70. This represents a 0.35% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have purchased 5,992,798 shares of company stock worth $1,324,092,981. Company insiders own 0.12% of the company’s stock.
Republic Services Trading Down 0.0%
Shares of Republic Services stock opened at $246.75 on Monday. The firm has a market capitalization of $75.17 billion, a price-to-earnings ratio of 34.13, a PEG ratio of 4.10 and a beta of 0.32. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.14. The firm’s 50 day simple moving average is $224.95 and its two-hundred day simple moving average is $217.69. Republic Services, Inc. has a 12-month low of $196.41 and a 12-month high of $254.39.
Republic Services (NYSE:RSG – Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The business services provider reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.01. Republic Services had a return on equity of 18.56% and a net margin of 12.93%. The company had revenue of $4.56 billion during the quarter, compared to analysts’ expectations of $4.42 billion. During the same quarter in the previous year, the firm posted $1.90 EPS. The firm’s revenue was up 8.2% compared to the same quarter last year. Analysts predict that Republic Services, Inc. will post 7.27 EPS for the current year.
Republic Services Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Monday, January 4th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, January 4th. Republic Services’s dividend payout ratio is 37.07%.
About Republic Services
Republic Services, Inc provides waste collection, recycling and environmental services to residential, commercial, industrial and municipal customers across the United States. Its services include collecting and transporting waste, operating transfer stations and landfills, and processing recyclable materials.
The company also provides environmental solutions, including services for the management and disposal of hazardous and other specialized waste. Republic Services traces its origins to the 1990s and expanded its operations through the 2008 combination with Allied Waste Industries.
Headquartered in Phoenix, Arizona, Republic Services is led by Chief Executive Officer Jon Vander Ark.
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