Umpqua Bank Purchases New Holdings in Republic Services, Inc. (NYSE:RSG)

Umpqua Bank purchased a new stake in Republic Services, Inc. (NYSE:RSG) during the third quarter, according to its most recent disclosure with the SEC. The firm purchased 1,752 shares of the business services provider’s stock, valued at approximately $352,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. TD Asset Management Inc raised its holdings in Republic Services by 424.7% in the 1st quarter. TD Asset Management Inc now owns 1,722,107 shares of the business services provider’s stock valued at $329,680,000 after acquiring an additional 1,393,918 shares during the last quarter. Capital World Investors raised its holdings in Republic Services by 20.5% in the 1st quarter. Capital World Investors now owns 7,909,008 shares of the business services provider’s stock valued at $1,514,100,000 after acquiring an additional 1,346,588 shares during the last quarter. M&G Plc acquired a new stake in Republic Services in the 1st quarter valued at about $130,892,000. International Assets Investment Management LLC raised its holdings in Republic Services by 83,671.9% in the 3rd quarter. International Assets Investment Management LLC now owns 538,653 shares of the business services provider’s stock valued at $108,183,000 after acquiring an additional 538,010 shares during the last quarter. Finally, Earnest Partners LLC increased its holdings in shares of Republic Services by 16.9% during the 1st quarter. Earnest Partners LLC now owns 1,262,519 shares of the business services provider’s stock worth $241,697,000 after buying an additional 182,645 shares during the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. StockNews.com cut shares of Republic Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Scotiabank started coverage on shares of Republic Services in a research report on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price target for the company. Truist Financial raised 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. CIBC raised their price target on shares of Republic Services from $208.00 to $217.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, William Blair initiated coverage on shares of Republic Services in a research report on Thursday, October 3rd. They issued an “outperform” rating for the company. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $215.71.

Insider Transactions at Republic Services

In other news, Director Tomago Collins sold 3,200 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $203.01, for a total transaction of $649,632.00. Following the transaction, the director now directly owns 17,486 shares in the company, valued at $3,549,832.86. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.09% of the company’s stock.

Republic Services Stock Performance

NYSE RSG traded up $1.00 during trading on Wednesday, reaching $203.14. The company’s stock had a trading volume of 53,714 shares, compared to its average volume of 1,121,937. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market cap of $63.61 billion, a price-to-earnings ratio of 32.34, a P/E/G ratio of 3.07 and a beta of 0.70. Republic Services, Inc. has a twelve month low of $154.49 and a twelve month high of $208.69. The business’s fifty day moving average price is $203.21 and its 200-day moving average price is $197.03.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.20. The company had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. Republic Services’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.54 earnings per share. As a group, analysts anticipate that Republic Services, Inc. will post 6.24 EPS for the current fiscal year.

Republic Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.14%. Republic Services’s dividend payout ratio (DPR) is 37.12%.

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.