Quantum Private Wealth LLC Makes New $201,000 Investment in Republic Services, Inc. (NYSE:RSG)

Quantum Private Wealth LLC purchased a new position in Republic Services, Inc. (NYSE:RSG) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 1,000 shares of the business services provider’s stock, valued at approximately $201,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Summit Global Investments boosted its position in shares of Republic Services by 652.5% during the 3rd quarter. Summit Global Investments now owns 16,795 shares of the business services provider’s stock valued at $3,373,000 after acquiring an additional 14,563 shares during the last quarter. Graypoint LLC boosted its position in shares of Republic Services by 6.4% during the 3rd quarter. Graypoint LLC now owns 1,457 shares of the business services provider’s stock valued at $293,000 after acquiring an additional 87 shares during the last quarter. Umpqua Bank bought a new position in shares of Republic Services during the 3rd quarter valued at approximately $352,000. Harvest Portfolios Group Inc. boosted its position in shares of Republic Services by 18.5% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 5,388 shares of the business services provider’s stock valued at $1,082,000 after acquiring an additional 840 shares during the last quarter. Finally, Catalina Capital Group LLC boosted its position in shares of Republic Services by 4.1% during the 3rd quarter. Catalina Capital Group LLC now owns 4,484 shares of the business services provider’s stock valued at $901,000 after acquiring an additional 176 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RSG. Scotiabank began coverage on Republic Services in a research report on Friday, October 4th. They set a “sector perform” rating and a $224.00 target price for the company. William Blair assumed coverage on Republic Services in a research report on Thursday, October 3rd. They issued an “outperform” rating for the company. Stifel Nicolaus raised their price target on Republic Services from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Royal Bank of Canada raised their price target on Republic Services from $211.00 to $219.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Finally, Raymond James lowered their price target on Republic Services from $219.00 to $214.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Republic Services currently has a consensus rating of “Moderate Buy” and an average price target of $215.71.

Republic Services Stock Performance

RSG stock opened at $209.00 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. The business’s fifty day simple moving average is $203.21 and its two-hundred day simple moving average is $197.10. Republic Services, Inc. has a twelve month low of $154.92 and a twelve month high of $209.78. The firm has a market cap of $65.45 billion, a price-to-earnings ratio of 33.29, a PEG ratio of 3.07 and a beta of 0.70.

Republic Services (NYSE:RSG) last announced its quarterly earnings results 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 firm had revenue of $4.08 billion for 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%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.54 earnings per share. Analysts predict that Republic Services, Inc. will post 6.24 earnings per share for the current year.

Republic Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.11%. Republic Services’s dividend payout ratio is currently 37.12%.

Insider Activity

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

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.