Truvestments Capital LLC Buys Shares of 169 Republic Services, Inc. (NYSE:RSG)

Truvestments Capital LLC purchased a new stake in shares of Republic Services, Inc. (NYSE:RSG) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 169 shares of the business services provider’s stock, valued at approximately $34,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its position in Republic Services by 2.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,520,738 shares of the business services provider’s stock worth $506,265,000 after acquiring an additional 57,040 shares during the last quarter. Legal & General Group Plc raised its holdings in Republic Services by 5.4% in the 2nd quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider’s stock valued at $351,480,000 after buying an additional 92,013 shares during the last quarter. TD Asset Management Inc boosted its position in Republic Services by 2.1% during the 2nd quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider’s stock worth $341,602,000 after buying an additional 35,650 shares during the period. Bank of New York Mellon Corp grew its holdings in Republic Services by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,476,116 shares of the business services provider’s stock worth $286,868,000 after acquiring an additional 3,809 shares during the last quarter. Finally, Earnest Partners LLC lifted its holdings in shares of Republic Services by 1.9% during the second quarter. Earnest Partners LLC now owns 1,286,053 shares of the business services provider’s stock worth $249,932,000 after purchasing an additional 23,534 shares during the period. Institutional investors own 57.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RSG. TD Cowen increased their price objective on Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a report on Monday, August 5th. William Blair assumed coverage on Republic Services in a report on Thursday, October 3rd. They issued an “outperform” rating on the stock. Oppenheimer raised their price target on shares of Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Royal Bank of Canada upped their price objective on shares of Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. Finally, Truist Financial boosted their target price on shares of Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Republic Services has a consensus rating of “Moderate Buy” and an average target price of $215.71.

Republic Services Stock Performance

NYSE RSG opened at $218.28 on Thursday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. The company has a fifty day simple moving average of $205.53 and a 200 day simple moving average of $199.56. Republic Services, Inc. has a 12-month low of $159.10 and a 12-month high of $220.58. The company has a market cap of $68.35 billion, a P/E ratio of 34.92, a PEG ratio of 3.33 and a beta of 0.70.

Republic Services (NYSE:RSG) last posted its earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the previous year, the firm posted $1.54 earnings per share. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. Sell-side analysts predict that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The business 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 $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 dividend yield of 1.06%. Republic Services’s dividend payout ratio is presently 37.12%.

Insider Activity at Republic Services

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were 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 directly owns 6,318 shares in the company, valued at approximately $1,326,906.36. The trade was a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is owned by insiders.

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.