Pallas Capital Advisors LLC Acquires Shares of 1,015 Republic Services, Inc. (NYSE:RSG)

Pallas Capital Advisors LLC bought a new position in Republic Services, Inc. (NYSE:RSG) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,015 shares of the business services provider’s stock, valued at approximately $204,000.

A number of other hedge funds have also made changes to their positions in RSG. FSA Wealth Management LLC bought a new stake in Republic Services during the third quarter worth about $25,000. Wolff Wiese Magana LLC grew its position in Republic Services by 351.6% during the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock worth $28,000 after acquiring an additional 109 shares during the last quarter. Webster Bank N. A. acquired a new stake in Republic Services during the 3rd quarter valued at $31,000. Truvestments Capital LLC acquired a new position in Republic Services in the third quarter worth $34,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Republic Services during the second quarter worth $36,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Stock Performance

Shares of Republic Services stock opened at $209.66 on Thursday. Republic Services, Inc. has a 12 month low of $165.06 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 company has a market capitalization of $65.66 billion, a PE ratio of 33.55, a PEG ratio of 3.30 and a beta of 0.73. The stock’s fifty day simple moving average is $209.10 and its 200 day simple moving average is $204.20.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.20. The business had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. Republic Services’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.54 EPS. On average, research analysts predict that Republic Services, Inc. will post 6.25 EPS for the current year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were given a $0.58 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.32 annualized dividend and a yield of 1.11%. Republic Services’s dividend payout ratio is currently 37.12%.

Insiders Place Their Bets

In related news, Director Katharine Weymouth sold 1,859 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $215.27, for a total transaction of $400,186.93. Following the completion of the transaction, the director now directly owns 879 shares in the company, valued at approximately $189,222.33. This trade represents a 67.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total value of $1,065,011.42. Following the completion of the sale, the chief financial officer now owns 6,318 shares in the company, valued at $1,326,906.36. The trade was 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.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on RSG shares. CIBC upped their price target on shares of Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Scotiabank assumed 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. BMO Capital Markets raised shares of Republic Services from a “market perform” rating to an “outperform” rating and raised their price target for the company from $211.00 to $238.00 in a report on Friday, December 6th. Truist Financial increased their price objective on Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada upgraded Republic Services from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $219.00 to $237.00 in a research report on Monday, January 6th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Republic Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.12.

Republic Services Company 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.