Benjamin Edwards Inc. Purchases 212,865 Shares of Republic Services, Inc. (NYSE:RSG)

Benjamin Edwards Inc. raised its position in Republic Services, Inc. (NYSE:RSG) by 1,626.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 225,950 shares of the business services provider’s stock after purchasing an additional 212,865 shares during the period. Benjamin Edwards Inc. owned 0.07% of Republic Services worth $45,387,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. FSA Wealth Management LLC purchased a new position in Republic Services during the third quarter worth about $25,000. Wolff Wiese Magana LLC grew its holdings in shares of Republic Services by 351.6% during 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. bought a new stake in Republic Services during the third quarter valued at approximately $31,000. Truvestments Capital LLC purchased a new stake in shares of Republic Services during the 3rd quarter valued at $34,000. Finally, Itau Unibanco Holding S.A. bought a new stake in Republic Services during the second quarter worth about $36,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Trading Up 0.0 %

NYSE:RSG opened at $218.30 on Monday. The stock has a market cap of $68.36 billion, a price-to-earnings ratio of 34.93, a PEG ratio of 3.34 and a beta of 0.70. Republic Services, Inc. has a 52 week low of $159.38 and a 52 week 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. The company’s 50 day moving average price is $206.22 and its 200-day moving average price is $200.08.

Republic Services (NYSE:RSG) last released its quarterly earnings data 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 company had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. Republic Services’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the company earned $1.54 EPS. On average, equities research analysts forecast that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. 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 report on Wednesday, October 30th. Oppenheimer upped their price target on shares of Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. TD Cowen boosted their target price on Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a research note on Monday, August 5th. Scotiabank initiated coverage on Republic Services in a research note on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price target on the stock. Finally, Truist Financial upped their price target on shares of Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $215.71.

Insider Buying and Selling at Republic Services

In related 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 completion of the sale, the chief financial officer now directly owns 6,318 shares in the company, valued at approximately $1,326,906.36. The trade was a 44.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.09% of the company’s stock.

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.