Los Angeles Capital Management LLC Has $22.22 Million Position in Republic Services, Inc. (NYSE:RSG)

Los Angeles Capital Management LLC reduced its stake in Republic Services, Inc. (NYSE:RSG) by 54.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 114,344 shares of the business services provider’s stock after selling 137,841 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Republic Services were worth $22,222,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in RSG. RFG Advisory LLC increased its position in Republic Services by 0.5% in the 2nd quarter. RFG Advisory LLC now owns 10,603 shares of the business services provider’s stock valued at $2,061,000 after buying an additional 53 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its stake in Republic Services by 2.9% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,860 shares of the business services provider’s stock valued at $362,000 after acquiring an additional 53 shares during the period. Capital Advisors Ltd. LLC raised its position in shares of Republic Services by 2.9% during the first quarter. Capital Advisors Ltd. LLC now owns 1,903 shares of the business services provider’s stock worth $364,000 after purchasing an additional 54 shares during the period. Hexagon Capital Partners LLC lifted its holdings in shares of Republic Services by 4.0% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,433 shares of the business services provider’s stock worth $278,000 after purchasing an additional 55 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Republic Services by 1.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,917 shares of the business services provider’s stock valued at $956,000 after purchasing an additional 57 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on RSG shares. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Republic Services in a research note on Thursday, May 23rd. They issued a “hold” rating and a $203.00 price objective on the stock. Royal Bank of Canada lifted their price target on Republic Services from $201.00 to $211.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Robert W. Baird boosted their price objective on Republic Services from $208.00 to $210.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Stifel Nicolaus lifted their target price on Republic Services from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Truist Financial raised Republic Services from a “hold” rating to a “buy” rating and increased their price target for the company from $192.00 to $220.00 in a research report on Thursday, July 11th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $211.00.

Insider Buying and Selling at Republic Services

In other news, Director Tomago Collins sold 3,200 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $3,549,832.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.

Republic Services Stock Down 1.3 %

RSG opened at $202.82 on Friday. The company’s 50-day moving average price is $200.65 and its two-hundred day moving average price is $192.43. 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, Inc. has a twelve month low of $140.23 and a twelve month high of $208.69. The stock has a market cap of $63.70 billion, a price-to-earnings ratio of 35.58, a PEG ratio of 3.33 and a beta of 0.70.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.08. The business had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.03 billion. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. As a group, equities analysts expect that Republic Services, Inc. will post 6.18 earnings per share for the current year.

Republic Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd will be paid a $0.58 dividend. This is a boost from Republic Services’s previous quarterly dividend of $0.54. This represents a $2.32 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Wednesday, October 2nd. Republic Services’s payout ratio is currently 37.54%.

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.