Republic Services, Inc. (NYSE:RSG) Shares Bought by Townsquare Capital LLC

Townsquare Capital LLC raised its holdings in Republic Services, Inc. (NYSE:RSG) by 3.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 56,408 shares of the business services provider’s stock after acquiring an additional 1,920 shares during the period. Townsquare Capital LLC’s holdings in Republic Services were worth $11,329,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its holdings in shares of Republic Services by 2.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,520,738 shares of the business services provider’s stock worth $506,265,000 after buying an additional 57,040 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Republic Services by 5.4% during the 2nd quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider’s stock worth $351,480,000 after buying an additional 92,013 shares during the last quarter. TD Asset Management Inc increased its holdings 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 during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Republic Services by 0.3% during 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 buying an additional 3,809 shares during the last quarter. Finally, Earnest Partners LLC increased its holdings in shares of Republic Services by 1.9% during the 2nd quarter. Earnest Partners LLC now owns 1,286,053 shares of the business services provider’s stock worth $249,932,000 after buying an additional 23,534 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Price Performance

Shares of RSG opened at $218.28 on Thursday. The stock has a fifty day moving average price of $205.53 and a 200 day moving average price of $199.56. Republic Services, Inc. has a 12 month low of $159.10 and a 12 month high of $220.58. The company has a market cap of $68.35 billion, a P/E ratio of 34.92, a PEG ratio of 3.33 and a beta of 0.70. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.61 by $0.20. The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. Republic Services’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.54 earnings per share. On average, research analysts forecast that Republic Services, Inc. will post 6.24 earnings per share for the current year.

Republic Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders 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 1.06%. Republic Services’s dividend payout ratio is currently 37.12%.

Insider Activity

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the sale, the chief financial officer now owns 6,318 shares in the company, valued at $1,326,906.36. The trade was a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

RSG has been the subject of a number of research analyst reports. Truist Financial upped their price objective on Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. CIBC upped their price target on shares of Republic Services from $208.00 to $217.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Morgan Stanley upped their price target on shares of Republic Services from $208.00 to $217.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. TD Cowen upped their price target on shares of Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. Finally, StockNews.com cut shares of Republic Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Republic Services presently has a consensus rating of “Moderate Buy” and an average price target of $215.71.

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.