Ontario Teachers Pension Plan Board Decreases Stock Position in Republic Services, Inc. (NYSE:RSG)

Ontario Teachers Pension Plan Board decreased its position in shares of Republic Services, Inc. (NYSE:RSG) by 50.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,312 shares of the business services provider’s stock after selling 1,312 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Republic Services were worth $264,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Wolff Wiese Magana LLC grew 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 valued at $28,000 after buying an additional 109 shares in the last quarter. EntryPoint Capital LLC purchased a new position in shares of Republic Services in the first quarter valued at $29,000. Webster Bank N. A. bought a new stake in Republic Services in the third quarter worth $31,000. Itau Unibanco Holding S.A. purchased a new stake in Republic Services during the second quarter valued at $36,000. Finally, Ashton Thomas Securities LLC bought a new position in Republic Services during the third quarter valued at $39,000. 57.73% of the stock is owned by institutional investors.

Republic Services Stock Performance

Shares of Republic Services stock opened at $216.79 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. The stock’s fifty day moving average price is $204.56 and its 200-day moving average price is $198.86. The firm has a market cap of $67.89 billion, a P/E ratio of 34.69, a P/E/G ratio of 3.22 and a beta of 0.70. Republic Services, Inc. has a 12 month low of $159.10 and a 12 month high of $216.86.

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

Republic Services Announces Dividend

The business 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 dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Thursday, January 2nd. Republic Services’s dividend payout ratio (DPR) is currently 37.12%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RSG. Royal Bank of Canada upped their target price on shares of Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. William Blair began coverage on Republic Services in a research report on Thursday, October 3rd. They set an “outperform” rating on the stock. TD Cowen lifted their target price on Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Morgan Stanley raised their price target 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. Finally, Truist Financial increased their target price on shares of Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.71.

Insider Activity at Republic Services

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 6,318 shares of the company’s stock, 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 corporate 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.