Eventide Asset Management LLC Has $2.14 Million Position in Republic Services, Inc. (NYSE:RSG)

Eventide Asset Management LLC lifted its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 31.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 10,670 shares of the business services provider’s stock after acquiring an additional 2,534 shares during the period. Eventide Asset Management LLC’s holdings in Republic Services were worth $2,143,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Wolff Wiese Magana LLC boosted its holdings 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 valued at $28,000 after purchasing an additional 109 shares in the last quarter. Webster Bank N. A. bought a new position in shares of Republic Services during the 3rd quarter worth approximately $31,000. Truvestments Capital LLC acquired a new stake in Republic Services in the 3rd quarter valued at $34,000. Itau Unibanco Holding S.A. bought a new stake in Republic Services in the second quarter valued at $36,000. Finally, Ashton Thomas Securities LLC acquired a new position in Republic Services during the third quarter worth $39,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Price Performance

RSG opened at $218.30 on Friday. The company has a fifty day moving average price of $206.22 and a two-hundred day moving average price of $199.90. The firm has a market capitalization of $68.36 billion, a PE ratio of 34.93, a P/E/G ratio of 3.34 and a beta of 0.70. Republic Services, Inc. has a 52 week low of $159.38 and a 52 week high of $220.58. 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 announced its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The business 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 firm earned $1.54 earnings per share. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, analysts anticipate that Republic Services, Inc. will post 6.24 earnings per share for the current year.

Republic Services Announces Dividend

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

Insider Buying and Selling at Republic Services

In other Republic Services 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 value of $1,065,011.42. Following the completion of the transaction, the chief financial officer now directly owns 6,318 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RSG. Truist Financial increased their target price on shares of Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Scotiabank assumed coverage on shares of Republic Services in a research note on Friday, October 4th. They issued a “sector perform” rating and a $224.00 target price for the company. William Blair assumed coverage on Republic Services in a research report on Thursday, October 3rd. They set an “outperform” rating on the stock. Royal Bank of Canada lifted their price objective on Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Finally, TD Cowen increased their target price on Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Republic Services has a consensus rating of “Moderate Buy” and a consensus price target of $215.71.

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.