Quantbot Technologies LP Makes New Investment in Republic Services, Inc. (NYSE:RSG)

Quantbot Technologies LP purchased a new position in Republic Services, Inc. (NYSE:RSG) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 32,755 shares of the business services provider’s stock, valued at approximately $6,579,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Republic Services during the 3rd quarter valued at about $6,102,000. Lifeworks Advisors LLC lifted its holdings in shares of Republic Services by 1,112.3% during the third quarter. Lifeworks Advisors LLC now owns 21,469 shares of the business services provider’s stock valued at $4,312,000 after purchasing an additional 19,698 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Republic Services by 15.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 5,663 shares of the business services provider’s stock worth $1,137,000 after purchasing an additional 746 shares in the last quarter. PGGM Investments grew its stake in shares of Republic Services by 264.3% in the 2nd quarter. PGGM Investments now owns 8,842 shares of the business services provider’s stock worth $1,718,000 after buying an additional 6,415 shares during the last quarter. Finally, YCG LLC raised its stake in Republic Services by 2.2% during the third quarter. YCG LLC now owns 208,232 shares of the business services provider’s stock valued at $41,821,000 after buying an additional 4,428 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Trading Up 0.5 %

Shares of NYSE:RSG opened at $217.83 on Tuesday. Republic Services, Inc. has a 52-week low of $159.10 and a 52-week high of $218.90. The stock has a market capitalization of $68.21 billion, a price-to-earnings ratio of 34.85, a PEG ratio of 3.31 and a beta of 0.70. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64. The stock’s 50-day simple moving average is $204.81 and its two-hundred day simple moving average is $199.22.

Republic Services (NYSE:RSG) last announced its earnings results 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 analyst estimates of $4.12 billion. During the same period in the previous year, the business posted $1.54 earnings per share. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. Analysts expect that Republic Services, Inc. will post 6.24 EPS for the current year.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given 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 yield of 1.07%. Republic Services’s dividend payout ratio (DPR) is presently 37.12%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on RSG shares. William Blair began coverage on Republic Services in a report on Thursday, October 3rd. They set an “outperform” rating for the company. StockNews.com cut shares of Republic Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. CIBC upped their target price on shares of Republic Services from $208.00 to $217.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. TD Cowen raised their price target on shares of Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Finally, Morgan Stanley upped their price objective on Republic Services from $208.00 to $217.00 and gave the company an “equal weight” 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 company. Based on data from MarketBeat, Republic Services has a consensus rating of “Moderate Buy” and a consensus price target of $215.71.

Insiders Place Their Bets

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were 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 directly owns 6,318 shares in the company, valued at $1,326,906.36. This represents a 44.53 % decrease in their ownership of the stock. The transaction 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.

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.