Wellington Management Group LLP Buys 1,131,850 Shares of Republic Services, Inc. (NYSE:RSG)

Wellington Management Group LLP lifted its stake in Republic Services, Inc. (NYSE:RSG) by 23.2% in the third quarter, HoldingsChannel.com reports. The fund owned 6,004,199 shares of the business services provider’s stock after purchasing an additional 1,131,850 shares during the period. Wellington Management Group LLP’s holdings in Republic Services were worth $1,205,883,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. FSA Wealth Management LLC purchased a new position in Republic Services in the third quarter worth about $25,000. Wolff Wiese Magana LLC boosted its holdings in shares of Republic Services by 351.6% in the third quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock worth $28,000 after buying an additional 109 shares during the last quarter. Webster Bank N. A. purchased a new stake in Republic Services during the third quarter valued at approximately $31,000. Truvestments Capital LLC bought a new position in Republic Services in the third quarter worth approximately $34,000. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of Republic Services during the 2nd quarter worth $36,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on RSG. Truist Financial upped their price objective on Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Oppenheimer lifted their price objective on Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. William Blair began coverage on shares of Republic Services in a report on Thursday, October 3rd. They issued an “outperform” rating for the company. Scotiabank initiated coverage on shares of Republic Services in a report on Friday, October 4th. They set a “sector perform” rating and a $224.00 price target on the stock. Finally, Morgan Stanley increased their price objective on shares of Republic Services from $208.00 to $217.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $217.88.

Republic Services Price Performance

Shares of Republic Services stock opened at $216.70 on Friday. The firm has a market cap of $67.86 billion, a PE ratio of 34.67, a PEG ratio of 3.29 and a beta of 0.71. The stock has a 50 day moving average of $207.21 and a 200 day moving average of $200.67. 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, Inc. has a 12 month low of $160.41 and a 12 month high of $220.58.

Republic Services (NYSE:RSG) last posted its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.20. The firm had revenue of $4.08 billion during 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 revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the firm posted $1.54 earnings per share. On average, research analysts expect that Republic Services, Inc. will post 6.24 EPS 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. Investors of record on Thursday, January 2nd will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s payout ratio is 37.12%.

Insider Buying and Selling

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer now directly owns 6,318 shares in the company, valued at $1,326,906.36. This trade represents a 44.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is currently owned by company insiders.

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.