Republic Services, Inc. (NYSE:RSG) Stake Lifted by Stifel Financial Corp

Stifel Financial Corp increased its stake in shares of Republic Services, Inc. (NYSE:RSG) by 437.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,814,613 shares of the business services provider’s stock after buying an additional 1,477,255 shares during the quarter. Stifel Financial Corp owned about 0.58% of Republic Services worth $364,449,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Quantinno Capital Management LP boosted its position in Republic Services by 27.4% during the 3rd quarter. Quantinno Capital Management LP now owns 31,400 shares of the business services provider’s stock worth $6,306,000 after acquiring an additional 6,752 shares during the period. Quarry LP boosted its position in Republic Services by 471.7% during the 3rd quarter. Quarry LP now owns 909 shares of the business services provider’s stock worth $183,000 after acquiring an additional 750 shares during the period. Rench Wealth Management Inc. boosted its position in Republic Services by 9.8% during the 3rd quarter. Rench Wealth Management Inc. now owns 22,805 shares of the business services provider’s stock worth $4,580,000 after acquiring an additional 2,034 shares during the period. Resurgent Financial Advisors LLC lifted its holdings in shares of Republic Services by 4.3% in the third quarter. Resurgent Financial Advisors LLC now owns 3,155 shares of the business services provider’s stock valued at $634,000 after buying an additional 130 shares during the period. Finally, Polar Asset Management Partners Inc. acquired a new stake in shares of Republic Services in the third quarter valued at $1,587,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Buying and Selling at Republic Services

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the company’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 completion of the transaction, the chief financial officer now directly owns 6,318 shares of the company’s stock, valued at $1,326,906.36. This represents a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.09% of the company’s stock.

Republic Services Trading Up 0.3 %

RSG stock opened at $215.53 on Thursday. The company has a market cap of $67.49 billion, a P/E ratio of 34.48, a PEG ratio of 3.28 and a beta of 0.71. Republic Services, Inc. has a twelve month low of $160.38 and a twelve month 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 business has a fifty day moving average of $206.91 and a 200-day moving average of $200.56.

Republic Services (NYSE:RSG) last released 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 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%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.54 earnings per share. As a group, equities research analysts expect that Republic Services, Inc. will post 6.24 EPS for the current year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a $0.58 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 1.08%. Republic Services’s payout ratio is 37.12%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on RSG shares. Morgan Stanley upped their target price on Republic Services from $208.00 to $217.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Oppenheimer upped their price target on Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Royal Bank of Canada upped their price target on Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Truist Financial upped their target price on Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, CIBC upped their target price on Republic Services from $208.00 to $217.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $215.71.

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.