Northwest & Ethical Investments L.P. Has $26.06 Million Holdings in Republic Services, Inc. (NYSE:RSG)

Northwest & Ethical Investments L.P. decreased its stake in shares of Republic Services, Inc. (NYSE:RSG) by 39.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 129,762 shares of the business services provider’s stock after selling 85,090 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Republic Services were worth $26,061,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in RSG. Tidal Investments LLC boosted its stake in Republic Services by 55.1% during the 1st quarter. Tidal Investments LLC now owns 10,093 shares of the business services provider’s stock valued at $1,932,000 after purchasing an additional 3,587 shares during the period. Swedbank AB bought a new stake in Republic Services during the 1st quarter valued at approximately $8,792,000. Atria Investments Inc bought a new stake in Republic Services during the 1st quarter valued at approximately $1,068,000. Cetera Investment Advisers lifted its position in shares of Republic Services by 179.3% in the 1st quarter. Cetera Investment Advisers now owns 67,652 shares of the business services provider’s stock worth $12,951,000 after acquiring an additional 43,432 shares during the period. Finally, Cetera Advisors LLC lifted its position in shares of Republic Services by 92.7% in the 1st quarter. Cetera Advisors LLC now owns 17,351 shares of the business services provider’s stock worth $3,322,000 after acquiring an additional 8,348 shares during the period. Institutional investors and hedge funds 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 Republic Services stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 6,318 shares of the company’s stock, valued at $1,326,906.36. This trade represents a 44.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.09% of the company’s stock.

Republic Services Stock Performance

NYSE:RSG traded down $0.47 during mid-day trading on Thursday, hitting $218.28. The stock had a trading volume of 771,325 shares, compared to its average volume of 1,119,829. Republic Services, Inc. has a twelve month low of $159.10 and a twelve month high of $220.58. The stock has a market cap of $68.35 billion, a price-to-earnings ratio of 34.92, a PEG ratio of 3.33 and a beta of 0.70. The company’s 50 day simple moving average is $205.53 and its 200 day simple moving average is $199.56. 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 (NYSE:RSG) last released 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. The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The business’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.54 EPS. On average, equities research analysts forecast that Republic Services, Inc. will post 6.24 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.58 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.06%. Republic Services’s dividend payout ratio is presently 37.12%.

Analyst Ratings Changes

A number of analysts have commented on the company. CIBC raised their price objective on Republic Services from $208.00 to $217.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Truist Financial raised their price objective on Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. TD Cowen raised their price objective on Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. William Blair began coverage on Republic Services in a research report on Thursday, October 3rd. They issued an “outperform” rating for the company. Finally, Scotiabank started coverage on Republic Services in a research report on Friday, October 4th. They set a “sector perform” rating and a $224.00 target price for the company. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Republic Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.71.

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.