Sanctuary Advisors LLC Raises Stock Position in Republic Services, Inc. (NYSE:RSG)

Sanctuary Advisors LLC increased its stake in shares of Republic Services, Inc. (NYSE:RSG) by 28.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,065 shares of the business services provider’s stock after acquiring an additional 7,608 shares during the quarter. Sanctuary Advisors LLC’s holdings in Republic Services were worth $7,385,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RSG. Swedbank AB boosted its position in shares of Republic Services by 13.8% in the 2nd quarter. Swedbank AB now owns 52,245 shares of the business services provider’s stock valued at $10,153,000 after purchasing an additional 6,317 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Republic Services by 1.2% in the second quarter. Assenagon Asset Management S.A. now owns 4,917 shares of the business services provider’s stock valued at $956,000 after acquiring an additional 57 shares during the period. Brookstone Capital Management grew its position in shares of Republic Services by 23.2% during the second quarter. Brookstone Capital Management now owns 13,622 shares of the business services provider’s stock worth $2,798,000 after acquiring an additional 2,564 shares during the last quarter. Raymond James & Associates raised its position in Republic Services by 3.1% in the 2nd quarter. Raymond James & Associates now owns 749,448 shares of the business services provider’s stock valued at $145,648,000 after purchasing an additional 22,453 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in Republic Services by 5.5% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 10,591 shares of the business services provider’s stock worth $2,058,000 after purchasing an additional 548 shares during the period. 57.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on RSG. Oppenheimer upped their target price on shares of Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Truist Financial upped their price objective on Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Royal Bank of Canada boosted 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. Morgan Stanley increased their price target on Republic Services from $217.00 to $220.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, CIBC upped their price objective on shares of Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Republic Services currently has an average rating of “Moderate Buy” and a consensus target price of $220.06.

Insider Buying and Selling at Republic Services

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total value of $1,065,011.42. Following the completion of the sale, the chief financial officer now owns 6,318 shares in the company, valued at $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 available through this link. Also, Director Katharine Weymouth sold 1,859 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total transaction of $400,186.93. Following the completion of the sale, the director now directly owns 879 shares in the company, valued at $189,222.33. This represents a 67.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

Republic Services Stock Down 0.6 %

Republic Services stock opened at $208.97 on Friday. The firm has a market capitalization of $65.44 billion, a price-to-earnings ratio of 33.44, a price-to-earnings-growth ratio of 3.21 and a beta of 0.71. 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 $160.65 and a fifty-two week high of $220.58. The stock’s fifty day moving average is $208.53 and its two-hundred day moving average is $201.84.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.20. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The company had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the prior year, the firm earned $1.54 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. Analysts predict that Republic Services, Inc. will post 6.25 EPS for the current fiscal year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s dividend payout ratio is presently 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.