Mount Lucas Management LP Sells 12,811 Shares of Republic Services, Inc. (NYSE:RSG)

Mount Lucas Management LP cut its stake in shares of Republic Services, Inc. (NYSE:RSG) by 44.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,332 shares of the business services provider’s stock after selling 12,811 shares during the period. Republic Services comprises approximately 1.1% of Mount Lucas Management LP’s investment portfolio, making the stock its 13th largest holding. Mount Lucas Management LP’s holdings in Republic Services were worth $3,280,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Capital World Investors increased its stake in Republic Services by 20.5% in the 1st quarter. Capital World Investors now owns 7,909,008 shares of the business services provider’s stock valued at $1,514,100,000 after buying an additional 1,346,588 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Republic Services by 83,671.9% during the 3rd quarter. International Assets Investment Management LLC now owns 538,653 shares of the business services provider’s stock valued at $108,183,000 after purchasing an additional 538,010 shares during the last quarter. Earnest Partners LLC raised its stake in shares of Republic Services by 16.9% during the 1st quarter. Earnest Partners LLC now owns 1,262,519 shares of the business services provider’s stock worth $241,697,000 after purchasing an additional 182,645 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Republic Services by 1,946.2% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 136,279 shares of the business services provider’s stock worth $26,484,000 after buying an additional 129,619 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its position in Republic Services by 44.3% during the first quarter. Canada Pension Plan Investment Board now owns 396,681 shares of the business services provider’s stock valued at $75,941,000 after buying an additional 121,781 shares during the period. Institutional investors own 57.73% of the company’s stock.

Analyst Ratings Changes

RSG has been the subject of a number of research reports. BMO Capital Markets increased their target price on shares of Republic Services from $209.00 to $211.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Robert W. Baird boosted their target price on Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Truist Financial increased their price target on Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Scotiabank initiated coverage on Republic Services in a research note on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price objective on the stock. Finally, Stifel Nicolaus increased their target price on shares of Republic Services from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $215.71.

Republic Services Stock Performance

Republic Services stock opened at $208.04 on Friday. The stock has a market cap of $65.15 billion, a P/E ratio of 33.29, a price-to-earnings-growth ratio of 3.18 and a beta of 0.70. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64. Republic Services, Inc. has a fifty-two week low of $157.46 and a fifty-two week high of $216.18. The firm’s fifty day moving average price is $203.84 and its 200-day moving average price is $198.02.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.20. The firm had revenue of $4.08 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.54 EPS. On average, equities research 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 disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be paid a $0.58 dividend. 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 1.12%. Republic Services’s dividend payout ratio (DPR) is 37.12%.

About Republic Services

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.