Covington Investment Advisors Inc. Purchases Shares of 1,050 Republic Services, Inc. (NYSE:RSG)

Covington Investment Advisors Inc. purchased a new position in shares of Republic Services, Inc. (NYSE:RSG) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,050 shares of the business services provider’s stock, valued at approximately $211,000.

Several other institutional investors also recently modified their holdings of RSG. Wolff Wiese Magana LLC lifted its holdings 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 buying an additional 109 shares during the period. EntryPoint Capital LLC acquired a new position in shares of Republic Services in the first quarter worth approximately $29,000. Webster Bank N. A. bought a new stake in Republic Services in the third quarter valued at approximately $31,000. Truvestments Capital LLC acquired a new stake in Republic Services during the 3rd quarter valued at approximately $34,000. Finally, Itau Unibanco Holding S.A. bought a new position in Republic Services during the 2nd quarter worth approximately $36,000. Institutional investors own 57.73% of the company’s stock.

Insider Buying and Selling at Republic Services

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total value of $1,065,011.42. Following the completion of the transaction, the chief financial officer now owns 6,318 shares in the company, valued at $1,326,906.36. This represents a 44.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.09% of the company’s stock.

Republic Services Stock Performance

Shares of RSG opened at $217.83 on Tuesday. The firm has a market capitalization of $68.21 billion, a P/E ratio of 34.85, a P/E/G ratio of 3.31 and a beta of 0.70. Republic Services, Inc. has a 52 week low of $159.10 and a 52 week high of $218.90. The stock has a 50 day moving average price of $204.81 and a two-hundred day moving average price of $199.22. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, beating analysts’ consensus estimates 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 prior year, the firm posted $1.54 EPS. Equities analysts forecast that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s dividend payout ratio (DPR) is presently 37.12%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on RSG shares. 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 price objective for the company. CIBC increased their price target on Republic Services from $208.00 to $217.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. TD Cowen lifted their price objective on Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. Truist Financial raised their target price on Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada boosted their price target 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. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $215.71.

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.