Edgestream Partners L.P. Acquires 327 Shares of Republic Services, Inc. (NYSE:RSG)

Edgestream Partners L.P. boosted its holdings in Republic Services, Inc. (NYSE:RSG) by 2.5% during the third quarter, Holdings Channel reports. The fund owned 13,585 shares of the business services provider’s stock after purchasing an additional 327 shares during the period. Edgestream Partners L.P.’s holdings in Republic Services were worth $2,728,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Wolff Wiese Magana LLC raised its stake in Republic Services by 351.6% in the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 109 shares during the period. Webster Bank N. A. bought a new stake in Republic Services in the 3rd quarter valued at $31,000. Truvestments Capital LLC bought a new stake in Republic Services in the 3rd quarter valued at $34,000. Itau Unibanco Holding S.A. bought a new position in Republic Services during the 2nd quarter worth $36,000. Finally, Ashton Thomas Securities LLC bought a new position in Republic Services during the 3rd quarter worth $39,000. Institutional investors own 57.73% of the company’s stock.

Insider Transactions at Republic Services

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the sale, the chief financial officer now directly owns 6,318 shares in the company, valued at approximately $1,326,906.36. The trade was a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RSG. Truist Financial increased their price objective on Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley increased their price objective on Republic Services from $208.00 to $217.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. William Blair began coverage on Republic Services in a research report on Thursday, October 3rd. They set an “outperform” rating on the stock. Oppenheimer increased their price objective on Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, 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. 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, Republic Services has an average rating of “Moderate Buy” and a consensus target price of $215.71.

Republic Services Stock Performance

NYSE:RSG opened at $218.30 on Monday. The stock’s 50-day simple moving average is $206.22 and its 200 day simple moving average is $200.08. The firm has a market capitalization of $68.36 billion, a PE ratio of 34.93, a price-to-earnings-growth ratio of 3.34 and a beta of 0.70. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. Republic Services, Inc. has a twelve month low of $159.38 and a twelve month high of $220.58.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.20. The business 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%. Republic Services’s revenue was up 6.5% compared to the same quarter last year. During the same period last year, the firm posted $1.54 earnings per share. On average, analysts anticipate that Republic Services, Inc. will post 6.24 EPS for the current fiscal year.

Republic Services Dividend Announcement

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 issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Thursday, January 2nd. Republic Services’s dividend payout ratio (DPR) is currently 37.12%.

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.