Republic Services, Inc. (NYSE:RSG) Shares Bought by Mount Lucas Management LP

Mount Lucas Management LP boosted its stake in shares of Republic Services, Inc. (NYSE:RSG) by 88.1% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 29,143 shares of the business services provider’s stock after acquiring an additional 13,652 shares during the period. Republic Services comprises about 1.6% of Mount Lucas Management LP’s holdings, making the stock its 11th biggest holding. Mount Lucas Management LP’s holdings in Republic Services were worth $5,664,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. RFG Advisory LLC lifted its position in shares of Republic Services by 0.5% during the second quarter. RFG Advisory LLC now owns 10,603 shares of the business services provider’s stock worth $2,061,000 after purchasing an additional 53 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its position in shares of Republic Services by 2.9% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,860 shares of the business services provider’s stock worth $362,000 after purchasing an additional 53 shares in the last quarter. Capital Advisors Ltd. LLC lifted its position in shares of Republic Services by 2.9% during the first quarter. Capital Advisors Ltd. LLC now owns 1,903 shares of the business services provider’s stock worth $364,000 after purchasing an additional 54 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in shares of Republic Services by 4.0% during the second quarter. Hexagon Capital Partners LLC now owns 1,433 shares of the business services provider’s stock worth $278,000 after purchasing an additional 55 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Republic Services by 1.2% during the second quarter. Assenagon Asset Management S.A. now owns 4,917 shares of the business services provider’s stock worth $956,000 after purchasing an additional 57 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Stock Performance

Shares of NYSE RSG traded down $2.61 during midday trading on Friday, reaching $202.82. 1,033,364 shares of the company traded hands, compared to its average volume of 693,136. Republic Services, Inc. has a 52 week low of $140.23 and a 52 week high of $208.69. The stock has a 50-day moving average price of $200.65 and a 200 day moving average price of $192.43. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.59 and a quick ratio of 0.59. The company has a market cap of $63.70 billion, a price-to-earnings ratio of 35.58, a PEG ratio of 3.33 and a beta of 0.70.

Republic Services (NYSE:RSG) last released its earnings results on Wednesday, July 24th. The business services provider reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.08. The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.03 billion. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. Sell-side analysts anticipate that Republic Services, Inc. will post 6.18 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 1.14%. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Wednesday, October 2nd. Republic Services’s payout ratio is currently 37.54%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. TD Cowen lifted their price target on shares of Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a research note on Monday, August 5th. Raymond James decreased their price target on shares of Republic Services from $219.00 to $214.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Oppenheimer decreased their price target on shares of Republic Services from $211.00 to $210.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Robert W. Baird boosted their price objective on shares of Republic Services from $208.00 to $210.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Finally, Truist Financial upgraded shares of Republic Services from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $192.00 to $220.00 in a research report on Thursday, July 11th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $211.00.

Insider Buying and Selling

In related news, Director Tomago Collins sold 3,200 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $203.01, for a total value of $649,632.00. Following the completion of the sale, the director now directly owns 17,486 shares in the company, valued at approximately $3,549,832.86. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.09% of the company’s stock.

About Republic Services

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.