HighTower Advisors LLC Raises Position in Republic Services, Inc. (NYSE:RSG)

HighTower Advisors LLC raised its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 1.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,359 shares of the business services provider’s stock after buying an additional 406 shares during the period. HighTower Advisors LLC’s holdings in Republic Services were worth $5,488,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Hilltop Holdings Inc. increased its stake in Republic Services by 26.6% in the 3rd quarter. Hilltop Holdings Inc. now owns 2,011 shares of the business services provider’s stock worth $404,000 after purchasing an additional 422 shares during the period. Centiva Capital LP boosted its position in Republic Services by 27.5% during the 3rd quarter. Centiva Capital LP now owns 34,649 shares of the business services provider’s stock valued at $6,959,000 after buying an additional 7,476 shares during the period. Concentric Capital Strategies LP grew its holdings in Republic Services by 217.7% in the 3rd quarter. Concentric Capital Strategies LP now owns 30,172 shares of the business services provider’s stock worth $6,060,000 after acquiring an additional 20,674 shares during the last quarter. Ascent Group LLC increased its position in shares of Republic Services by 5.6% in the third quarter. Ascent Group LLC now owns 4,529 shares of the business services provider’s stock valued at $910,000 after acquiring an additional 240 shares during the period. Finally, Benjamin Edwards Inc. boosted its holdings in shares of Republic Services by 1,626.8% during the third quarter. Benjamin Edwards Inc. now owns 225,950 shares of the business services provider’s stock worth $45,387,000 after purchasing an additional 212,865 shares during the period. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insiders Place Their Bets

In other news, Director Katharine Weymouth sold 1,859 shares of Republic Services stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $215.27, for a total value of $400,186.93. Following the completion of the sale, the director now directly owns 879 shares in the company, valued at $189,222.33. The trade was a 67.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 6,318 shares in the company, valued at approximately $1,326,906.36. This trade represents a 44.53 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Republic Services Trading Down 0.3 %

Republic Services stock opened at $211.63 on Wednesday. Republic Services, Inc. has a 12 month low of $160.65 and a 12 month high of $220.58. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. The business’s fifty day simple moving average is $207.79 and its two-hundred day simple moving average is $201.26. The company has a market capitalization of $66.27 billion, a price-to-earnings ratio of 33.87, a price-to-earnings-growth ratio of 3.31 and a beta of 0.71.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.61 by $0.20. The company had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. Republic Services’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.54 EPS. As a group, equities analysts predict that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.58 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 annualized dividend and a yield of 1.10%. Republic Services’s dividend payout ratio is 37.12%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. BMO Capital Markets upgraded Republic Services from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $211.00 to $238.00 in a report on Friday, December 6th. CIBC upped their target price on Republic Services from $217.00 to $227.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Truist Financial lifted their price target on shares of Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Oppenheimer raised their target price on shares of Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, William Blair started coverage on shares of Republic Services in a research report on Thursday, October 3rd. They set an “outperform” rating on the stock. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $219.88.

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.