BNP Paribas Financial Markets Has $84.67 Million Stock Holdings in Republic Services, Inc. (NYSE:RSG)

BNP Paribas Financial Markets grew its holdings in Republic Services, Inc. (NYSE:RSG) by 25.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 421,562 shares of the business services provider’s stock after buying an additional 86,500 shares during the period. BNP Paribas Financial Markets owned 0.13% of Republic Services worth $84,667,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in RSG. Wolff Wiese Magana LLC lifted its holdings in 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. Webster Bank N. A. acquired a new stake in Republic Services during the 3rd quarter worth approximately $31,000. Truvestments Capital LLC bought a new position in Republic Services during the 3rd quarter worth $34,000. Itau Unibanco Holding S.A. bought a new position in Republic Services during the 2nd quarter worth $36,000. Finally, Ashton Thomas Securities LLC bought a new position in Republic Services during the 3rd quarter worth $39,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Stock Performance

Shares of Republic Services stock opened at $218.28 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 $205.53 and a 200 day simple moving average of $199.56. The firm has a market capitalization of $68.35 billion, a price-to-earnings ratio of 34.92, a PEG ratio of 3.33 and a beta of 0.70. Republic Services, Inc. has a one year low of $159.10 and a one year high of $220.58.

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

Republic Services Dividend Announcement

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

Insider Activity at Republic Services

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of the 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 sale, the chief financial officer now owns 6,318 shares in the company, valued at $1,326,906.36. This represents a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.09% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on RSG. Oppenheimer raised their price objective on Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Truist Financial lifted their price target on Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Royal Bank of Canada lifted their price target on Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. Scotiabank began coverage on Republic Services in a research report on Friday, October 4th. They set a “sector perform” rating and a $224.00 price objective on the stock. Finally, William Blair began coverage on Republic Services in a research report on Thursday, October 3rd. They set an “outperform” rating on the stock. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Republic Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.71.

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.