Bleakley Financial Group LLC Grows Stake in Republic Services, Inc. (NYSE:RSG)

Bleakley Financial Group LLC boosted its position in Republic Services, Inc. (NYSE:RSG) by 30.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,878 shares of the business services provider’s stock after buying an additional 1,611 shares during the quarter. Bleakley Financial Group LLC’s holdings in Republic Services were worth $1,381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wolff Wiese Magana LLC boosted its holdings in Republic Services by 351.6% in the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock worth $28,000 after buying an additional 109 shares during the period. EntryPoint Capital LLC purchased a new position in shares of Republic Services in the first quarter valued at $29,000. Webster Bank N. A. bought a new stake in shares of Republic Services during the 3rd quarter valued at $31,000. Itau Unibanco Holding S.A. bought a new position in Republic Services in the 2nd quarter worth about $36,000. Finally, Indiana Trust & Investment Management CO purchased a new position in Republic Services during the 2nd quarter valued at about $45,000. 57.73% of the stock is currently owned by institutional investors.

Republic Services Price Performance

Shares of NYSE:RSG opened at $204.80 on Friday. The company has a market capitalization of $64.50 billion, a P/E ratio of 35.93, a P/E/G ratio of 3.30 and a beta of 0.69. Republic Services, Inc. has a 1-year low of $142.65 and a 1-year high of $208.69. The firm’s 50 day simple moving average is $203.92 and its two-hundred day simple moving average is $195.90. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.59 and a quick ratio of 0.59.

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

Republic Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd were issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 1.13%. This is a boost from Republic Services’s previous quarterly dividend of $0.54. The ex-dividend date was Wednesday, October 2nd. Republic Services’s dividend payout ratio is 40.70%.

Insider Activity

In related news, Director Tomago Collins sold 3,200 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $203.01, for a total value of $649,632.00. Following the sale, the director now owns 17,486 shares in the company, valued at approximately $3,549,832.86. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on RSG. Robert W. Baird boosted their price target on shares of Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Royal Bank of Canada raised their price target on Republic Services from $201.00 to $211.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. TD Cowen upped their price objective on shares of Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. Oppenheimer cut their price target on shares of Republic Services from $211.00 to $210.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Finally, Truist Financial upgraded shares of Republic Services from a “hold” rating to a “buy” rating and raised their price objective for the company from $192.00 to $220.00 in a research report on Thursday, July 11th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $211.65.

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.