Republic Services, Inc. (NYSE:RSG) Stake Reduced by Martingale Asset Management L P

Martingale Asset Management L P decreased its holdings in Republic Services, Inc. (NYSE:RSG) by 15.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 156,992 shares of the business services provider’s stock after selling 27,600 shares during the quarter. Martingale Asset Management L P owned 0.05% of Republic Services worth $31,530,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wolff Wiese Magana LLC grew its stake in shares of Republic Services by 351.6% in the third quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock worth $28,000 after purchasing an additional 109 shares in the last quarter. Webster Bank N. A. acquired a new stake in shares of Republic Services in the third quarter valued at $31,000. Truvestments Capital LLC acquired a new stake in shares of Republic Services in the third quarter valued at $34,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Republic Services in the second quarter valued at $36,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Republic Services in the third quarter valued at $39,000. Institutional investors own 57.73% of the company’s stock.

Republic Services Price Performance

Shares of NYSE:RSG opened at $218.28 on Friday. Republic Services, Inc. has a 1-year low of $159.10 and a 1-year high of $220.58. The firm has a market capitalization of $68.35 billion, a PE ratio of 34.92, a PEG ratio of 3.34 and a beta of 0.70. The business’s 50 day moving average is $205.88 and its 200-day moving average is $199.69. 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 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. 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 analyst estimates of $4.12 billion. During the same quarter last year, the firm earned $1.54 EPS. Republic Services’s revenue for the quarter was up 6.5% compared to the same quarter last year. Sell-side analysts predict that Republic Services, Inc. will post 6.24 earnings per share for the current year.

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s dividend payout ratio is 37.12%.

Insider Activity at Republic Services

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the business’s stock in a transaction 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 sale, the chief financial officer now owns 6,318 shares of the company’s stock, valued at $1,326,906.36. The trade was a 44.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. CIBC upped their price objective on Republic Services from $208.00 to $217.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Truist Financial upped their target price on Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley upped their target price on Republic Services from $208.00 to $217.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. William Blair began coverage on Republic Services in a report on Thursday, October 3rd. They set an “outperform” rating for the company. Finally, Oppenheimer upped 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. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $215.71.

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.