First Commonwealth Financial Corp PA Acquires 56 Shares of Republic Services, Inc. (NYSE:RSG)

First Commonwealth Financial Corp PA lifted its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 1.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,721 shares of the business services provider’s stock after purchasing an additional 56 shares during the period. First Commonwealth Financial Corp PA’s holdings in Republic Services were worth $747,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Wolff Wiese Magana LLC increased its stake in shares of Republic Services by 351.6% during the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock worth $28,000 after purchasing an additional 109 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in Republic Services during the first quarter valued at about $29,000. Webster Bank N. A. bought a new position in Republic Services during the third quarter worth about $31,000. Truvestments Capital LLC purchased a new position in shares of Republic Services in the third quarter worth about $34,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Republic Services in the second quarter valued at approximately $36,000. Institutional investors own 57.73% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on RSG. Oppenheimer increased their target price on Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. TD Cowen boosted their target price on Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. Morgan Stanley lifted their price target 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. Scotiabank started coverage on shares of Republic Services in a research report on Friday, October 4th. They set a “sector perform” rating and a $224.00 target price for the company. Finally, Truist Financial boosted their target price on Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $215.71.

Republic Services Trading Up 0.6 %

Shares of RSG traded up $1.35 during trading hours on Wednesday, reaching $220.10. 25,633 shares of the company traded hands, compared to its average volume of 1,116,573. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. Republic Services, Inc. has a 12 month low of $159.10 and a 12 month high of $220.58. The company’s fifty day moving average price is $205.15 and its two-hundred day moving average price is $199.43. The company has a market capitalization of $68.92 billion, a price-to-earnings ratio of 35.01, a price-to-earnings-growth ratio of 3.33 and a beta of 0.70.

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

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be paid a $0.58 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.05%. Republic Services’s dividend payout ratio is currently 37.12%.

Insider Transactions at Republic Services

In other 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 transaction 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 hyperlink. 0.09% of the stock is owned by insiders.

About Republic Services

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.