Republic Services, Inc. (NYSE:RSG) Shares Sold by Quest Partners LLC

Quest Partners LLC decreased its position in Republic Services, Inc. (NYSE:RSG) by 4.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,108 shares of the business services provider’s stock after selling 517 shares during the period. Quest Partners LLC’s holdings in Republic Services were worth $2,030,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Natixis Advisors LLC increased its stake in Republic Services by 9.5% during the third quarter. Natixis Advisors LLC now owns 132,640 shares of the business services provider’s stock worth $26,639,000 after acquiring an additional 11,553 shares during the last quarter. Empowered Funds LLC increased its position in shares of Republic Services by 4.1% during the 3rd quarter. Empowered Funds LLC now owns 15,172 shares of the business services provider’s stock worth $3,047,000 after purchasing an additional 597 shares during the last quarter. Empirical Finance LLC lifted its position in Republic Services by 2.0% in the third quarter. Empirical Finance LLC now owns 7,114 shares of the business services provider’s stock valued at $1,429,000 after buying an additional 142 shares during the last quarter. First Business Financial Services Inc. boosted its stake in Republic Services by 4.7% during the third quarter. First Business Financial Services Inc. now owns 12,494 shares of the business services provider’s stock worth $2,509,000 after buying an additional 558 shares during the period. Finally, Sycomore Asset Management raised its stake in shares of Republic Services by 13.1% in the 3rd quarter. Sycomore Asset Management now owns 13,884 shares of the business services provider’s stock valued at $2,787,000 after acquiring an additional 1,610 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Stock Up 0.5 %

RSG stock opened at $209.08 on Tuesday. The company’s 50 day moving average is $203.92 and its two-hundred day moving average is $198.26. Republic Services, Inc. has a twelve month low of $157.91 and a twelve month high of $216.18. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. The stock has a market cap of $65.47 billion, a P/E ratio of 33.45, a PEG ratio of 3.18 and a beta of 0.70.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the prior year, the firm posted $1.54 earnings per share. Republic Services’s revenue for the quarter was up 6.5% on a year-over-year basis. Research analysts expect that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

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 issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Thursday, January 2nd. Republic Services’s dividend payout ratio is currently 37.12%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on RSG shares. Scotiabank initiated coverage on shares of Republic Services in a research report on Friday, October 4th. They set a “sector perform” rating and a $224.00 price objective for the company. Raymond James cut their price objective on Republic Services from $219.00 to $214.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Royal Bank of Canada raised their price objective on shares of Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. Truist Financial increased their target price on shares of Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, StockNews.com lowered Republic Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $215.71.

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.