Y Intercept Hong Kong Ltd Purchases 8,454 Shares of Republic Services, Inc. (NYSE:RSG)

Y Intercept Hong Kong Ltd raised its position in shares of Republic Services, Inc. (NYSE:RSG) by 79.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,070 shares of the business services provider’s stock after purchasing an additional 8,454 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Republic Services were worth $3,830,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP lifted its position in Republic Services by 23.2% in the 3rd quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider’s stock valued at $1,205,883,000 after acquiring an additional 1,131,850 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Republic Services by 2.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,520,738 shares of the business services provider’s stock valued at $506,265,000 after purchasing an additional 57,040 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Republic Services by 437.9% during the third quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock valued at $364,449,000 after buying an additional 1,477,255 shares during the last quarter. Legal & General Group Plc raised its position in Republic Services by 5.4% in the 2nd quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider’s stock worth $351,480,000 after buying an additional 92,013 shares during the last quarter. Finally, TD Asset Management Inc lifted its stake in Republic Services by 2.1% during the 2nd quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider’s stock valued at $341,602,000 after acquiring an additional 35,650 shares during the period. Institutional investors own 57.73% of the company’s stock.

Insider Transactions at Republic Services

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total value of $1,065,011.42. Following the completion of the transaction, the chief financial officer now directly owns 6,318 shares of the company’s stock, 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 document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.09% of the company’s stock.

Republic Services Stock Performance

NYSE:RSG opened at $216.68 on Monday. The stock has a 50-day moving average price of $207.56 and a 200 day moving average price of $201.08. The stock has a market capitalization of $67.85 billion, a P/E ratio of 34.67, a P/E/G ratio of 3.31 and a beta of 0.71. Republic Services, Inc. has a 12-month low of $160.41 and a 12-month high of $220.58. 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 (NYSE:RSG) last announced its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) 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 business had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same period last year, the firm posted $1.54 EPS. The company’s revenue was up 6.5% on a year-over-year basis. Equities research analysts forecast that Republic Services, Inc. will post 6.24 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.58 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.07%. Republic Services’s payout ratio is 37.12%.

Wall Street Analyst Weigh In

RSG has been the topic of a number of research analyst reports. Oppenheimer increased their price objective 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. Morgan Stanley lifted their price objective on Republic Services from $208.00 to $217.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. BMO Capital Markets raised Republic Services from a “market perform” rating to an “outperform” rating and increased their target price for the company from $211.00 to $238.00 in a report on Friday. Scotiabank assumed 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 target for the company. Finally, William Blair started coverage on shares of Republic Services in a research report on Thursday, October 3rd. They set an “outperform” rating for the company. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Republic Services currently has an average rating of “Moderate Buy” and a consensus target price of $217.88.

Republic Services 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.