Massachusetts Financial Services Co. MA Grows Position in Republic Services, Inc. (NYSE:RSG)

Massachusetts Financial Services Co. MA increased its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 3.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 275,465 shares of the business services provider’s stock after purchasing an additional 10,303 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.09% of Republic Services worth $55,324,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of RSG. Wolff Wiese Magana LLC raised its stake 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 valued at $28,000 after acquiring 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. acquired a new position in shares of Republic Services during the third quarter worth about $31,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Republic Services in the second quarter valued at about $36,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Republic Services during the 3rd quarter valued at about $39,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Stock Up 1.3 %

Republic Services stock opened at $216.79 on Monday. The firm’s 50 day moving average price is $204.56 and its two-hundred day moving average price is $199.01. The firm has a market cap of $67.89 billion, a PE ratio of 34.69, a P/E/G ratio of 3.27 and a beta of 0.70. Republic Services, Inc. has a twelve month low of $159.10 and a twelve month high of $216.86. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64.

Republic Services (NYSE:RSG) last released its quarterly earnings data 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 analysts’ expectations of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $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 Announces Dividend

The firm also recently disclosed 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. This represents a $2.32 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Thursday, January 2nd. Republic Services’s payout ratio is presently 37.12%.

Insider Buying and Selling

In related 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 transaction of $1,065,011.42. Following the completion of the sale, the chief financial officer now directly owns 6,318 shares of the company’s stock, valued at approximately $1,326,906.36. This represents a 44.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

RSG has been the subject of several recent research reports. TD Cowen increased their price objective on shares of Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Oppenheimer lifted their price target on shares of Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. CIBC upped their price objective on shares of Republic Services from $208.00 to $217.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. StockNews.com lowered Republic Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Truist Financial increased their price target on Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Nine research 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, Republic Services presently has a consensus rating of “Moderate Buy” and an average target price of $215.71.

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.