Assenagon Asset Management S.A. Raises Holdings in Republic Services, Inc. (NYSE:RSG)

Assenagon Asset Management S.A. increased its position in Republic Services, Inc. (NYSE:RSG) by 15.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,663 shares of the business services provider’s stock after buying an additional 746 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Republic Services were worth $1,137,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in RSG. Wolff Wiese Magana LLC raised its position in shares of 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 Republic Services in the first quarter valued at about $29,000. Webster Bank N. A. purchased a new position in Republic Services in the third quarter valued at about $31,000. Itau Unibanco Holding S.A. purchased a new position in Republic Services in the second quarter valued at about $36,000. Finally, Indiana Trust & Investment Management CO purchased a new position in Republic Services in the second quarter valued at about $45,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Stifel Nicolaus lifted their target price on Republic Services from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Truist Financial lifted their price objective on Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a report on Wednesday. Raymond James decreased their price target on shares of Republic Services from $219.00 to $214.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. CIBC upped their price target on shares of Republic Services from $208.00 to $217.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, William Blair began coverage on shares of Republic Services in a research report on Thursday, October 3rd. They issued an “outperform” rating for the company. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $215.71.

Republic Services Stock Performance

Shares of RSG stock opened at $198.58 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. The business has a 50 day moving average of $203.43 and a two-hundred day moving average of $196.81. Republic Services, Inc. has a 52 week low of $148.36 and a 52 week high of $208.69. The company has a market cap of $62.19 billion, a P/E ratio of 31.77, a PEG ratio of 3.04 and a beta of 0.70.

Republic Services (NYSE:RSG) last issued its earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. 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. Republic Services’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, analysts anticipate that Republic Services, Inc. will post 6.23 EPS for the current year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.58 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.17%. Republic Services’s dividend payout ratio (DPR) is presently 37.12%.

Insider Activity

In other news, Director Tomago Collins sold 3,200 shares of Republic Services 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 sale, the director now owns 17,486 shares of the company’s stock, valued at approximately $3,549,832.86. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate 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.