Prosperity Financial Group Inc. Purchases 264 Shares of Republic Services, Inc. (NYSE:RSG)

Prosperity Financial Group Inc. lifted its position in Republic Services, Inc. (NYSE:RSG) by 8.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,538 shares of the business services provider’s stock after acquiring an additional 264 shares during the quarter. Prosperity Financial Group Inc.’s holdings in Republic Services were worth $711,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RSG. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Republic Services in the 3rd quarter worth approximately $6,102,000. Lifeworks Advisors LLC lifted its holdings in Republic Services by 1,112.3% during the third quarter. Lifeworks Advisors LLC now owns 21,469 shares of the business services provider’s stock worth $4,312,000 after buying an additional 19,698 shares during the period. Assenagon Asset Management S.A. boosted its position in Republic Services by 15.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 5,663 shares of the business services provider’s stock valued at $1,137,000 after acquiring an additional 746 shares in the last quarter. PGGM Investments increased its holdings in shares of Republic Services by 264.3% in the 2nd quarter. PGGM Investments now owns 8,842 shares of the business services provider’s stock valued at $1,718,000 after acquiring an additional 6,415 shares during the period. Finally, YCG LLC lifted its stake in shares of Republic Services by 2.2% during the 3rd quarter. YCG LLC now owns 208,232 shares of the business services provider’s stock worth $41,821,000 after purchasing an additional 4,428 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors.

Republic Services Price Performance

Shares of RSG opened at $216.79 on Monday. The company has a market capitalization of $67.89 billion, a P/E ratio of 34.69, a P/E/G ratio of 3.31 and a beta of 0.70. The business’s 50-day moving average is $204.56 and its two-hundred day moving average is $199.01. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64. Republic Services, Inc. has a fifty-two week low of $159.10 and a fifty-two week high of $216.86.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The company had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same period last year, the business earned $1.54 earnings per share. Republic Services’s quarterly revenue was up 6.5% on a year-over-year basis. Research analysts predict that Republic Services, Inc. will post 6.24 earnings per share for the current year.

Republic Services Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on RSG shares. Scotiabank started coverage on shares of Republic Services in a report on Friday, October 4th. They issued a “sector perform” rating and a $224.00 target price for the company. William Blair began coverage on shares of Republic Services in a research report on Thursday, October 3rd. They set an “outperform” rating for the company. Royal Bank of Canada upped their price target on Republic Services from $211.00 to $219.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. StockNews.com cut Republic Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Truist Financial upped their target price on Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Republic Services currently has a consensus rating of “Moderate Buy” and an average price target of $215.71.

Insider Activity at Republic Services

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 6,318 shares in the company, valued at approximately $1,326,906.36. This represents a 44.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is owned by company insiders.

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.