Republic Services, Inc. (NYSE:RSG) Shares Bought by Concentric Capital Strategies LP

Concentric Capital Strategies LP lifted its stake in shares of Republic Services, Inc. (NYSE:RSG) by 217.7% in the third quarter, Holdings Channel reports. The institutional investor owned 30,172 shares of the business services provider’s stock after buying an additional 20,674 shares during the quarter. Concentric Capital Strategies LP’s holdings in Republic Services were worth $6,060,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in RSG. Allspring Global Investments Holdings LLC boosted its holdings in 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 worth $506,265,000 after purchasing an additional 57,040 shares during the period. Legal & General Group Plc lifted its holdings in Republic Services by 5.4% in the second quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider’s stock worth $351,480,000 after acquiring an additional 92,013 shares during the last quarter. TD Asset Management Inc boosted its stake in Republic Services by 2.1% in the second quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider’s stock valued at $341,602,000 after acquiring an additional 35,650 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Republic Services by 4.5% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,477,807 shares of the business services provider’s stock valued at $296,803,000 after purchasing an additional 63,500 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Republic Services by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,476,116 shares of the business services provider’s stock worth $286,868,000 after purchasing an additional 3,809 shares during the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Stock Up 0.0 %

RSG stock opened at $218.30 on Monday. The firm has a market cap of $68.36 billion, a PE ratio of 34.93, a P/E/G ratio of 3.34 and a beta of 0.70. Republic Services, Inc. has a 12 month low of $159.38 and a 12 month high of $220.58. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a 50 day simple moving average of $206.22 and a 200 day simple moving average of $200.08.

Republic Services (NYSE:RSG) last released 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. The business had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The company’s revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company posted $1.54 EPS. Equities research analysts forecast that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal 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 dividend of $0.58 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 annualized dividend and a yield of 1.06%. Republic Services’s payout ratio is presently 37.12%.

Analysts Set New Price Targets

RSG has been the subject of a number of recent research reports. Oppenheimer upped their price objective on Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. CIBC boosted their target price on shares of Republic Services from $208.00 to $217.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Royal Bank of Canada raised their price target on shares of Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. William Blair began coverage on Republic Services in a research report on Thursday, October 3rd. They set an “outperform” rating for the company. Finally, TD Cowen raised their target price on Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $215.71.

Insider Buying and Selling

In related 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 sale, the chief financial officer now directly owns 6,318 shares of the company’s stock, valued at approximately $1,326,906.36. This represents a 44.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company 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.