Rench Wealth Management Inc. Raises Stake in Republic Services, Inc. (NYSE:RSG)

Rench Wealth Management Inc. raised its stake in Republic Services, Inc. (NYSE:RSG) by 9.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,805 shares of the business services provider’s stock after buying an additional 2,034 shares during the quarter. Rench Wealth Management Inc.’s holdings in Republic Services were worth $4,580,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Republic Services during the 3rd quarter worth $6,102,000. Lifeworks Advisors LLC lifted its stake in Republic Services by 1,112.3% during the 3rd quarter. Lifeworks Advisors LLC now owns 21,469 shares of the business services provider’s stock worth $4,312,000 after acquiring an additional 19,698 shares in the last quarter. Assenagon Asset Management S.A. raised its position in 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 valued at $1,137,000 after purchasing an additional 746 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Republic Services in the 3rd quarter valued at about $6,579,000. Finally, PGGM Investments raised its position in Republic Services by 264.3% in the 2nd quarter. PGGM Investments now owns 8,842 shares of the business services provider’s stock valued at $1,718,000 after purchasing an additional 6,415 shares in the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RSG has been the topic of several research analyst reports. Morgan Stanley raised their target price 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 initiated coverage on Republic Services in a research report on Thursday, October 3rd. They set an “outperform” rating on the stock. Scotiabank initiated coverage on Republic Services in a research note on Friday, October 4th. They set a “sector perform” rating and a $224.00 price target on the stock. Oppenheimer raised their price target on Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research note 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 note on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Republic Services currently has an average rating of “Moderate Buy” and an average price target of $215.71.

Insider Buying and Selling

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services stock in a transaction on 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.09% of the stock is currently owned by insiders.

Republic Services Stock Up 0.3 %

RSG opened at $215.53 on Thursday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64. The business has a 50 day simple moving average of $206.91 and a 200-day simple moving average of $200.56. The stock has a market capitalization of $67.49 billion, a P/E ratio of 34.48, a P/E/G ratio of 3.28 and a beta of 0.71. Republic Services, Inc. has a 12 month low of $160.38 and a 12 month high of $220.58.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.61 by $0.20. The business had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the firm earned $1.54 EPS. On average, equities analysts anticipate that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The firm 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 $0.58 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.08%. Republic Services’s dividend payout ratio 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.