Republic Services, Inc. (NYSE:RSG) Shares Acquired by Millburn Ridgefield Corp

Millburn Ridgefield Corp grew its stake in shares of Republic Services, Inc. (NYSE:RSG) by 472.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,248 shares of the business services provider’s stock after buying an additional 1,030 shares during the period. Millburn Ridgefield Corp’s holdings in Republic Services were worth $251,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in RSG. FSA Wealth Management LLC purchased a new stake in Republic Services during the 3rd quarter worth $25,000. Wolff Wiese Magana LLC grew its stake in shares of Republic Services by 351.6% in the third quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock valued at $28,000 after buying an additional 109 shares in the last quarter. Webster Bank N. A. purchased a new stake in shares of Republic Services during the 3rd quarter valued at about $31,000. Truvestments Capital LLC acquired a new position in Republic Services during the 3rd quarter worth approximately $34,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in Republic Services in the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on RSG shares. CIBC upped their target price on shares of Republic Services from $208.00 to $217.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Oppenheimer raised their target price on Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Scotiabank began coverage on Republic Services in a research note on Friday, October 4th. They set a “sector perform” rating and a $224.00 price objective for the company. 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. Finally, Morgan Stanley lifted their price target on shares of Republic Services from $208.00 to $217.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.71.

Republic Services Price Performance

NYSE RSG opened at $214.89 on Wednesday. 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 stock has a market capitalization of $67.29 billion, a PE ratio of 34.38, a price-to-earnings-growth ratio of 3.29 and a beta of 0.71. Republic Services, Inc. has a 12-month low of $160.38 and a 12-month high of $220.58. The company has a 50 day moving average price of $206.69 and a two-hundred day moving average price of $200.46.

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. The firm had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.54 earnings per share. As a group, equities analysts predict that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Thursday, January 2nd. Republic Services’s dividend payout ratio is currently 37.12%.

Insider Activity at Republic Services

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services 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 sale, the chief financial officer now owns 6,318 shares of the company’s stock, valued at approximately $1,326,906.36. This trade represents a 44.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is owned by corporate 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.