Assetmark Inc. Has $3.68 Million Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Assetmark Inc. lifted its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 8.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,319 shares of the business services provider’s stock after acquiring an additional 1,394 shares during the period. Assetmark Inc.’s holdings in Republic Services were worth $3,679,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in RSG. Wolff Wiese Magana LLC raised its stake in shares of Republic Services by 351.6% in the third quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock worth $28,000 after purchasing an additional 109 shares during the last quarter. EntryPoint Capital LLC bought a new position in Republic Services during the 1st quarter valued at $29,000. Webster Bank N. A. bought a new stake in shares of Republic Services in the 3rd quarter worth $31,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Republic Services in the second quarter valued at about $36,000. Finally, Indiana Trust & Investment Management CO purchased a new position in Republic Services during the second quarter worth about $45,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Trading Up 0.2 %

Shares of RSG opened at $212.24 on Wednesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64. Republic Services, Inc. has a 1-year low of $156.83 and a 1-year high of $214.96. The company has a market capitalization of $66.46 billion, a P/E ratio of 33.96, a P/E/G ratio of 3.24 and a beta of 0.70. The firm’s 50 day simple moving average is $203.39 and its 200 day simple moving average is $197.53.

Republic Services (NYSE:RSG) last announced its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.20. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The company had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same period in the previous year, the business earned $1.54 earnings per share. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. Sell-side analysts forecast that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company 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 $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s dividend payout ratio is currently 37.12%.

Insiders Place Their Bets

In other Republic Services news, Director Tomago Collins sold 3,200 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $203.01, for a total transaction of $649,632.00. Following the completion of the sale, the director now directly owns 17,486 shares in the company, valued at $3,549,832.86. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Scotiabank initiated coverage on shares of Republic Services in a research report on Friday, October 4th. They set a “sector perform” rating and a $224.00 target price on the stock. Truist Financial boosted their target price on Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Oppenheimer increased their price target on Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Royal Bank of Canada boosted their price objective on Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley lifted their target price on shares of Republic Services from $208.00 to $217.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.