Financial Counselors Inc. Acquires Shares of 1,265 Republic Services, Inc. (NYSE:RSG)

Financial Counselors Inc. acquired a new stake in Republic Services, Inc. (NYSE:RSG) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,265 shares of the business services provider’s stock, valued at approximately $254,000.

Other hedge funds have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Republic Services in the third quarter valued at about $6,102,000. Lifeworks Advisors LLC increased its position in shares of Republic Services by 1,112.3% during the third quarter. Lifeworks Advisors LLC now owns 21,469 shares of the business services provider’s stock valued at $4,312,000 after buying an additional 19,698 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Republic Services by 15.2% during the third quarter. Assenagon Asset Management S.A. now owns 5,663 shares of the business services provider’s stock valued at $1,137,000 after buying an additional 746 shares during the period. Quantbot Technologies LP purchased a new position in shares of Republic Services during the third quarter valued at about $6,579,000. Finally, PGGM Investments increased its position in shares of Republic Services by 264.3% during the second quarter. PGGM Investments now owns 8,842 shares of the business services provider’s stock valued at $1,718,000 after buying an additional 6,415 shares during the period. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Stock Up 0.0 %

Shares of Republic Services stock opened at $218.30 on Monday. The company has a market cap of $68.36 billion, a price-to-earnings ratio of 34.93, a price-to-earnings-growth ratio of 3.34 and a beta of 0.70. The company’s 50 day moving average is $206.22 and its 200 day moving average is $200.08. Republic Services, Inc. has a twelve month low of $159.38 and a twelve month high of $220.58. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 earnings per share 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 company had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the prior year, the firm earned $1.54 earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. Research analysts anticipate that Republic Services, Inc. will post 6.24 EPS for the current year.

Republic Services Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 1.06%. Republic Services’s dividend payout ratio is currently 37.12%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RSG. Truist Financial boosted their price target on shares of Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer boosted their price objective on shares of Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Royal Bank of Canada boosted their price objective on shares of Republic Services from $211.00 to $219.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. Morgan Stanley boosted their price objective on shares of Republic Services from $208.00 to $217.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, William Blair assumed coverage on shares of Republic Services in a research note on Thursday, October 3rd. They set an “outperform” rating on the stock. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $215.71.

Insider Buying and Selling at Republic Services

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of the company’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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is owned by corporate insiders.

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.