Parallax Volatility Advisers L.P. Buys Shares of 2,963 Republic Services, Inc. (NYSE:RSG)

Parallax Volatility Advisers L.P. bought a new stake in Republic Services, Inc. (NYSE:RSG) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,963 shares of the business services provider’s stock, valued at approximately $595,000.

Several other large investors also recently added to or reduced their stakes in RSG. FSA Wealth Management LLC acquired a new position in shares of Republic Services in the 3rd quarter valued at $25,000. Wolff Wiese Magana LLC lifted its stake in Republic Services by 351.6% during the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock worth $28,000 after acquiring an additional 109 shares in the last quarter. Webster Bank N. A. acquired a new position in Republic Services during the 3rd quarter worth about $31,000. Truvestments Capital LLC acquired a new position in Republic Services during the 3rd quarter worth about $34,000. Finally, Itau Unibanco Holding S.A. acquired a new position in Republic Services during the 2nd quarter worth about $36,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. William Blair assumed coverage on Republic Services in a research note on Thursday, October 3rd. They set an “outperform” rating on the stock. BMO Capital Markets raised Republic Services from a “market perform” rating to an “outperform” rating and increased their price target for the company from $211.00 to $238.00 in a research report on Friday. Morgan Stanley increased their price target on Republic Services from $208.00 to $217.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Truist Financial increased their price target on Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer increased their price target on Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Republic Services has an average rating of “Moderate Buy” and a consensus target price of $217.88.

Insider Activity

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 6,318 shares of the company’s stock, valued at $1,326,906.36. This trade represents a 44.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.09% of the company’s stock.

Republic Services Trading Up 0.6 %

Shares of RSG stock opened at $216.70 on Friday. The business’s 50 day moving average is $207.21 and its two-hundred day moving average is $200.67. Republic Services, Inc. has a twelve month low of $160.41 and a twelve month high of $220.58. The company has a market capitalization of $67.86 billion, a P/E ratio of 34.67, a price-to-earnings-growth ratio of 3.28 and a beta of 0.71. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07.

Republic Services (NYSE:RSG) last announced its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $4.12 billion. During the same period last year, the business posted $1.54 EPS. The company’s revenue was up 6.5% on a year-over-year basis. Equities analysts forecast that Republic Services, Inc. will post 6.24 EPS for the current year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders 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 1.07%. Republic Services’s dividend payout ratio is currently 37.12%.

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.