BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Purchases 15,848 Shares of Republic Services, Inc. (NYSE:RSG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 60.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,226 shares of the business services provider’s stock after purchasing an additional 15,848 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Republic Services were worth $8,206,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. YHB Investment Advisors Inc. acquired a new stake in shares of Republic Services in the first quarter valued at $29,000. EntryPoint Capital LLC acquired a new stake in Republic Services in the 1st quarter valued at about $29,000. Jones Financial Companies Lllp lifted its position in shares of Republic Services by 3,014.3% during the fourth quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider’s stock worth $36,000 after purchasing an additional 211 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Republic Services during the second quarter valued at approximately $36,000. Finally, Indiana Trust & Investment Management CO bought a new position in Republic Services in the 2nd quarter worth approximately $45,000. Institutional investors own 57.73% of the company’s stock.

Analysts Set New Price Targets

RSG has been the topic of a number of recent research reports. Oppenheimer decreased their price objective on Republic Services from $211.00 to $210.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Truist Financial upgraded Republic Services from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $192.00 to $220.00 in a research report on Thursday, July 11th. BMO Capital Markets upped their target price on shares of Republic Services from $209.00 to $211.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Royal Bank of Canada lifted their price target on shares of Republic Services from $201.00 to $211.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. Finally, Robert W. Baird raised their price objective on shares of Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Ten equities 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, Republic Services presently has a consensus rating of “Hold” and a consensus target price of $211.00.

Republic Services Stock Up 0.5 %

NYSE:RSG opened at $204.46 on Thursday. The stock has a market cap of $64.39 billion, a price-to-earnings ratio of 35.88, a PEG ratio of 3.26 and a beta of 0.70. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.05. The stock has a 50-day moving average price of $202.29 and a two-hundred day moving average price of $194.13. Republic Services, Inc. has a 1 year low of $140.23 and a 1 year high of $208.69.

Republic Services (NYSE:RSG) last posted its earnings results on Wednesday, July 24th. The business services provider reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.08. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. The business had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $4.03 billion. 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd will be given a $0.58 dividend. This is a boost from Republic Services’s previous quarterly dividend of $0.54. This represents a $2.32 annualized dividend and a yield of 1.13%. The ex-dividend date is Wednesday, October 2nd. Republic Services’s payout ratio is currently 40.70%.

Insiders Place Their Bets

In other news, Director Tomago Collins sold 3,200 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $203.01, for a total transaction of $649,632.00. Following the completion of the transaction, the director now directly 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 Securities & Exchange Commission, which can be accessed through this link. 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.