30,384 Shares in Republic Services, Inc. (NYSE:RSG) Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Republic Services, Inc. (NYSE:RSG) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 30,384 shares of the business services provider’s stock, valued at approximately $6,102,000.

Several other hedge funds and other institutional investors also recently modified their holdings of RSG. Wolff Wiese Magana LLC grew its stake in 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. EntryPoint Capital LLC acquired a new position in shares of Republic Services in the 1st quarter worth approximately $29,000. Webster Bank N. A. bought a new stake in shares of Republic Services in the 3rd quarter valued at approximately $31,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Republic Services during the 2nd quarter valued at approximately $36,000. Finally, Ashton Thomas Securities LLC acquired a new position in Republic Services in the third quarter worth $39,000. Institutional investors own 57.73% of the company’s stock.

Insider Activity at Republic Services

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the sale, the chief financial officer now owns 6,318 shares in the company, valued at approximately $1,326,906.36. The trade was a 44.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Republic Services Price Performance

Shares of NYSE RSG opened at $216.79 on Friday. The firm has a 50-day moving average of $204.56 and a two-hundred day moving average of $198.86. The company has a market capitalization of $67.89 billion, a price-to-earnings ratio of 34.69, a PEG ratio of 3.22 and a beta of 0.70. 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, Inc. has a twelve month low of $159.10 and a twelve month high of $216.86.

Republic Services (NYSE:RSG) last issued its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.20. The firm had revenue of $4.08 billion during 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 revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the firm posted $1.54 earnings per share. As a group, analysts expect 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. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Thursday, January 2nd. Republic Services’s dividend payout ratio is 37.12%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RSG. Morgan Stanley increased their target price 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 raised their target price on shares of Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Royal Bank of Canada upped their target price on 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 raised their price target on Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Finally, William Blair started coverage on Republic Services in a research note on Thursday, October 3rd. They set an “outperform” rating for the company. 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 stock presently has an average rating of “Moderate Buy” and a consensus 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.