HighTower Advisors LLC Has $5.49 Million Stock Position in Republic Services, Inc. (NYSE:RSG)

HighTower Advisors LLC boosted its holdings in Republic Services, Inc. (NYSE:RSGFree Report) by 1.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,359 shares of the business services provider’s stock after acquiring an additional 406 shares during the quarter. HighTower Advisors LLC’s holdings in Republic Services were worth $5,488,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised 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 last quarter. Legal & General Group Plc increased its stake in Republic Services by 5.4% in the 2nd quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider’s stock valued at $351,480,000 after buying an additional 92,013 shares during the last quarter. TD Asset Management Inc lifted its position in shares of Republic Services by 2.1% during the 2nd quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider’s stock worth $341,602,000 after buying an additional 35,650 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Republic Services by 4.5% in 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 acquiring an additional 63,500 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Republic Services by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 1,476,116 shares of the business services provider’s stock valued at $286,868,000 after acquiring an additional 3,809 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Transactions at Republic Services

In other news, Director Katharine Weymouth sold 1,859 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $215.27, for a total value of $400,186.93. Following the completion of the transaction, the director now directly owns 879 shares in the company, valued at approximately $189,222.33. This represents a 67.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total value of $1,065,011.42. Following the transaction, the chief financial officer now directly owns 6,318 shares in the company, valued at approximately $1,326,906.36. This represents a 44.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

Republic Services Trading Down 0.3 %

Shares of Republic Services stock opened at $211.63 on Wednesday. The company’s 50-day moving average price is $207.79 and its 200-day moving average price is $201.26. The company has a market cap of $66.27 billion, a price-to-earnings ratio of 33.87, a PEG ratio of 3.31 and a beta of 0.71. Republic Services, Inc. has a 12-month low of $160.65 and a 12-month 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.

Republic Services (NYSE:RSGGet Free Report) last released its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.20. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The firm had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same period in the previous year, the business earned $1.54 EPS. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities analysts expect that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Announces Dividend

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 given a dividend of $0.58 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.10%. Republic Services’s dividend payout ratio (DPR) is presently 37.12%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. BMO Capital Markets upgraded Republic Services from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $211.00 to $238.00 in a research note on Friday, December 6th. Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $219.00 to $237.00 in a research report on Tuesday. William Blair initiated coverage on shares of Republic Services in a research report on Thursday, October 3rd. They set an “outperform” rating for the company. Oppenheimer lifted their price target on shares of Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley raised their target price on Republic Services from $208.00 to $217.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $219.88.

View Our Latest Report on RSG

About Republic Services

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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