Polar Asset Management Partners Inc. Buys Shares of 7,900 Republic Services, Inc. (NYSE:RSG)

Polar Asset Management Partners Inc. purchased a new position in Republic Services, Inc. (NYSE:RSG) in the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 7,900 shares of the business services provider’s stock, valued at approximately $1,587,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC boosted its position in shares of Republic Services by 83,671.9% during the 3rd quarter. International Assets Investment Management LLC now owns 538,653 shares of the business services provider’s stock valued at $108,183,000 after purchasing an additional 538,010 shares in the last quarter. Benjamin Edwards Inc. boosted its holdings in Republic Services by 1,626.8% during the third quarter. Benjamin Edwards Inc. now owns 225,950 shares of the business services provider’s stock worth $45,387,000 after buying an additional 212,865 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in Republic Services by 129.8% in the third quarter. Rockefeller Capital Management L.P. now owns 324,566 shares of the business services provider’s stock worth $65,186,000 after buying an additional 183,325 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Republic Services by 31.7% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 614,586 shares of the business services provider’s stock valued at $123,434,000 after acquiring an additional 147,799 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Republic Services by 1,946.2% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 136,279 shares of the business services provider’s stock valued at $26,484,000 after acquiring an additional 129,619 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Royal Bank of Canada boosted their target price on Republic Services from $211.00 to $219.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. CIBC upped their price objective on shares of Republic Services from $217.00 to $227.00 and gave the company a “neutral” rating in a research note on Wednesday. Morgan Stanley lifted their target price on shares of Republic Services from $208.00 to $217.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Truist Financial upped their price target on shares of Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer lifted their price objective on shares of Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $216.29.

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 shares were sold at an average price of $210.02, for a total value of $1,065,011.42. Following the transaction, the chief financial officer now owns 6,318 shares in the company, valued at $1,326,906.36. This trade represents a 44.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.09% of the company’s stock.

Republic Services Trading Up 0.0 %

NYSE:RSG opened at $215.58 on Friday. The company has a market capitalization of $67.51 billion, a P/E ratio of 34.49, a P/E/G ratio of 3.28 and a beta of 0.71. The stock’s 50 day moving average price is $207.21 and its 200 day moving average price is $200.67. 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, Inc. has a 52 week low of $160.38 and a 52 week high of $220.58.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.61 by $0.20. The company had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. Republic Services’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.54 EPS. On average, research analysts forecast that Republic Services, Inc. will post 6.24 EPS for the current fiscal year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s dividend payout ratio is 37.12%.

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.