Harvest Portfolios Group Inc. Increases Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Harvest Portfolios Group Inc. boosted its holdings in Republic Services, Inc. (NYSE:RSG) by 18.5% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,388 shares of the business services provider’s stock after acquiring an additional 840 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Republic Services were worth $1,082,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Wolff Wiese Magana LLC lifted its stake in Republic Services by 351.6% during the third quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock worth $28,000 after purchasing an additional 109 shares during the last quarter. EntryPoint Capital LLC bought a new position in shares of Republic Services during the first quarter valued at approximately $29,000. Webster Bank N. A. bought a new stake in Republic Services in the third quarter valued at $31,000. Itau Unibanco Holding S.A. purchased a new position in Republic Services during the 2nd quarter valued at $36,000. Finally, Indiana Trust & Investment Management CO bought a new position in Republic Services in the 2nd quarter worth $45,000. 57.73% of the stock is currently owned by institutional investors.

Republic Services Stock Performance

Shares of RSG opened at $207.07 on Thursday. Republic Services, Inc. has a 12-month low of $154.49 and a 12-month high of $208.69. The company has a 50-day moving average of $203.21 and a two-hundred day moving average of $197.10. The stock has a market cap of $64.84 billion, a P/E ratio of 33.13, a PEG ratio of 3.07 and a beta of 0.70. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07.

Republic Services (NYSE:RSG) last announced 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. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The company had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same period in the previous year, the company earned $1.54 EPS. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, research analysts predict that Republic Services, Inc. will post 6.24 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 1.12%. The ex-dividend date is Thursday, January 2nd. Republic Services’s dividend payout ratio is currently 37.12%.

Insider Activity

In related news, Director Tomago Collins sold 3,200 shares of Republic Services stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $203.01, for a total value of $649,632.00. Following the sale, the director now directly owns 17,486 shares in the company, valued at $3,549,832.86. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on RSG shares. William Blair started coverage on shares of Republic Services in a research report on Thursday, October 3rd. They set an “outperform” rating for the company. Truist Financial increased their price target on Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Stifel Nicolaus boosted their price objective on shares of Republic Services from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Morgan Stanley lifted their price objective on shares of Republic Services from $208.00 to $217.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Raymond James reduced their price objective on Republic Services from $219.00 to $214.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Nine 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.