Republic Services, Inc. (NYSE:RSG) Shares Acquired by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC increased its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 89.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,184 shares of the business services provider’s stock after acquiring an additional 2,920 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Republic Services were worth $1,242,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Wellington Management Group LLP grew its position in shares of Republic Services by 23.2% in the third quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider’s stock valued at $1,205,883,000 after purchasing an additional 1,131,850 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Republic Services by 2.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,520,738 shares of the business services provider’s stock valued at $506,265,000 after buying an additional 57,040 shares in the last quarter. Stifel Financial Corp increased its stake in shares of Republic Services by 437.9% in the 3rd quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock worth $364,449,000 after acquiring an additional 1,477,255 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Republic Services by 5.4% during the 2nd quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider’s stock worth $351,480,000 after acquiring an additional 92,013 shares during the period. Finally, TD Asset Management Inc grew its holdings in shares of Republic Services by 2.1% in the second quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider’s stock valued at $341,602,000 after purchasing an additional 35,650 shares during the period. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Stock Performance

Shares of RSG stock opened at $211.63 on Wednesday. The firm has a 50 day moving average of $207.79 and a two-hundred day moving average of $201.26. The stock has a market capitalization of $66.27 billion, a PE ratio of 33.86, a P/E/G ratio of 3.31 and a beta of 0.71. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. Republic Services, Inc. has a 52 week low of $160.65 and a 52 week high of $220.58.

Republic Services (NYSE:RSG) last released its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.20. The firm had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. Republic Services’s revenue was up 6.5% compared to the same quarter last year. During the same period last year, the business posted $1.54 earnings per share. On average, research analysts predict that Republic Services, Inc. will post 6.24 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be paid a $0.58 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 1.10%. Republic Services’s dividend payout ratio is currently 37.12%.

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 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 completion of the transaction, the chief financial officer now owns 6,318 shares in the company, valued at approximately $1,326,906.36. This represents a 44.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Katharine Weymouth sold 1,859 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $215.27, for a total value of $400,186.93. Following the transaction, the director now directly owns 879 shares in the company, valued at approximately $189,222.33. The trade was a 67.90 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

RSG has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of Republic Services from a “hold” rating to a “buy” rating and boosted their target price for the company from $219.00 to $237.00 in a report on Tuesday. Oppenheimer increased their price objective on Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. William Blair initiated coverage on Republic Services in a research report on Thursday, October 3rd. They issued an “outperform” rating on the stock. Scotiabank initiated coverage on Republic Services in a report on Friday, October 4th. They set a “sector perform” rating and a $224.00 price target for the company. Finally, Truist Financial upped their target price on shares of Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $219.88.

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.