Promethos Capital LLC Increases Position in Republic Services, Inc. (NYSE:RSG)

Promethos Capital LLC grew its position in shares of Republic Services, Inc. (NYSE:RSG) by 129.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,600 shares of the business services provider’s stock after purchasing an additional 11,060 shares during the period. Republic Services comprises about 1.4% of Promethos Capital LLC’s holdings, making the stock its 29th largest holding. Promethos Capital LLC’s holdings in Republic Services were worth $3,809,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. YHB Investment Advisors Inc. bought a new stake in Republic Services in the 1st quarter worth approximately $29,000. EntryPoint Capital LLC purchased a new position in shares of Republic Services during the first quarter worth approximately $29,000. Jones Financial Companies Lllp boosted its stake in shares of Republic Services by 3,014.3% in the 4th quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 211 shares in the last quarter. Indiana Trust & Investment Management CO bought a new position in shares of Republic Services during the 2nd quarter valued at $45,000. Finally, Frazier Financial Advisors LLC purchased a new position in Republic Services in the 4th quarter worth $50,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. CIBC raised their price objective on Republic Services from $196.00 to $208.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. StockNews.com cut Republic Services from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Truist Financial raised Republic Services from a “hold” rating to a “buy” rating and increased their price objective for the company from $192.00 to $220.00 in a research note on Thursday, July 11th. Raymond James decreased their target price on shares of Republic Services from $219.00 to $214.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Finally, Robert W. Baird raised their price target on shares of Republic Services from $208.00 to $210.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $211.00.

Republic Services Trading Up 0.8 %

RSG opened at $200.84 on Friday. The stock has a market cap of $63.08 billion, a PE ratio of 35.24, a PEG ratio of 3.30 and a beta of 0.70. The business has a 50 day moving average of $202.25 and a 200-day moving average of $193.61. Republic Services, Inc. has a 52 week low of $140.23 and a 52 week high of $208.69. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.05.

Republic Services (NYSE:RSG) last announced its earnings results on Wednesday, July 24th. The business services provider reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.08. The firm had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.03 billion. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. Equities research analysts predict that Republic Services, Inc. will post 6.18 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.58 per share. This is an increase from Republic Services’s previous quarterly dividend of $0.54. The ex-dividend date is Wednesday, October 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.16%. Republic Services’s dividend payout ratio (DPR) is currently 37.54%.

Insider Transactions at Republic Services

In related news, Director Tomago Collins sold 3,200 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $203.01, for a total transaction of $649,632.00. Following the completion of the transaction, the director now owns 17,486 shares of the company’s stock, valued at approximately $3,549,832.86. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.09% of the company’s stock.

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.