DRW Securities LLC Takes $399,000 Position in Republic Services, Inc. (NYSE:RSG)

DRW Securities LLC acquired a new stake in Republic Services, Inc. (NYSE:RSG) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,987 shares of the business services provider’s stock, valued at approximately $399,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. International Assets Investment Management LLC increased its holdings in Republic Services by 83,671.9% during the third quarter. International Assets Investment Management LLC now owns 538,653 shares of the business services provider’s stock valued at $108,183,000 after buying an additional 538,010 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Republic Services by 31.7% in the third 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 purchasing an additional 147,799 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Republic Services by 1,946.2% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 136,279 shares of the business services provider’s stock worth $26,484,000 after purchasing an additional 129,619 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of Republic Services by 3,827.6% during the second quarter. Clearbridge Investments LLC now owns 106,241 shares of the business services provider’s stock valued at $20,647,000 after buying an additional 103,536 shares during the last quarter. Finally, Legal & General Group Plc grew its position in shares of Republic Services by 5.4% in the 2nd quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider’s stock worth $351,480,000 after buying an additional 92,013 shares during the last quarter. Institutional investors own 57.73% of the company’s stock.

Insider Buying and Selling at Republic Services

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Scotiabank started coverage on shares of Republic Services in a research note on Friday, October 4th. They issued a “sector perform” rating and a $224.00 target price for the company. Morgan Stanley raised their price objective 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. TD Cowen increased their price target on Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a research note on Monday, August 5th. Royal Bank of Canada boosted their price target on Republic Services from $211.00 to $219.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. Finally, William Blair initiated coverage on shares of Republic Services in a research report on Thursday, October 3rd. They issued an “outperform” rating for the company. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $215.71.

Republic Services Price Performance

Shares of RSG opened at $218.80 on Wednesday. The company has a market capitalization of $68.52 billion, a P/E ratio of 35.01, a P/E/G ratio of 3.33 and a beta of 0.70. The business’s 50-day moving average is $205.15 and its two-hundred day moving average is $199.43. 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 fifty-two week low of $159.10 and a fifty-two week high of $219.94.

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

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 annualized dividend and a yield of 1.06%. Republic Services’s dividend payout ratio is presently 37.12%.

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.