Freedom Investment Management Inc. Boosts Stake in Republic Services, Inc. (NYSE:RSG)

Freedom Investment Management Inc. raised its stake in Republic Services, Inc. (NYSE:RSG) by 2.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,530 shares of the business services provider’s stock after acquiring an additional 121 shares during the quarter. Freedom Investment Management Inc.’s holdings in Republic Services were worth $1,111,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in RSG. Townsquare Capital LLC boosted its stake in shares of Republic Services by 3.5% during the 3rd quarter. Townsquare Capital LLC now owns 56,408 shares of the business services provider’s stock worth $11,329,000 after purchasing an additional 1,920 shares during the last quarter. BNP Paribas Financial Markets grew its stake in Republic Services by 25.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 421,562 shares of the business services provider’s stock worth $84,667,000 after acquiring an additional 86,500 shares during the period. Partners Group Holding AG raised its holdings in Republic Services by 41.4% in the 3rd quarter. Partners Group Holding AG now owns 347,885 shares of the business services provider’s stock valued at $69,869,000 after acquiring an additional 101,831 shares during the last quarter. Covington Investment Advisors Inc. acquired a new stake in shares of Republic Services during the third quarter worth $211,000. Finally, Quantbot Technologies LP acquired a new position in Republic Services in the third quarter valued at $6,579,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Republic Services

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of the firm’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 directly owns 6,318 shares in the company, valued at approximately $1,326,906.36. This trade represents a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.09% of the company’s stock.

Republic Services Price Performance

Shares of NYSE RSG opened at $218.28 on Thursday. 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, Inc. has a fifty-two week low of $159.10 and a fifty-two week high of $220.58. The business has a 50 day moving average price of $205.53 and a two-hundred day moving average price of $199.56. The firm has a market cap of $68.35 billion, a PE ratio of 34.92, a price-to-earnings-growth ratio of 3.33 and a beta of 0.70.

Republic Services (NYSE:RSG) last posted its quarterly earnings results 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. 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%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.54 earnings per share. Sell-side analysts expect that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given 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 payout ratio is 37.12%.

Analysts Set New Price Targets

Several research firms have commented on RSG. CIBC lifted their price target on Republic Services from $208.00 to $217.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Royal Bank of Canada lifted their price target on shares of Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. TD Cowen lifted their target price on Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a report on Monday, August 5th. Scotiabank started coverage on Republic Services in a report on Friday, October 4th. They set a “sector perform” rating and a $224.00 target price for the company. Finally, Truist Financial lifted 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. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Republic Services currently has a consensus rating of “Moderate Buy” and a consensus price target 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.