Republic Services, Inc. (NYSE:RSG) Position Boosted by Centiva Capital LP

Centiva Capital LP lifted its stake in Republic Services, Inc. (NYSE:RSG) by 27.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,649 shares of the business services provider’s stock after purchasing an additional 7,476 shares during the quarter. Centiva Capital LP’s holdings in Republic Services were worth $6,959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FSA Wealth Management LLC acquired a new stake in shares of Republic Services during the 3rd quarter valued at $25,000. Wolff Wiese Magana LLC raised its holdings in shares of Republic Services by 351.6% during the third quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock worth $28,000 after acquiring an additional 109 shares in the last quarter. Webster Bank N. A. acquired a new stake in Republic Services during the third quarter valued at $31,000. Truvestments Capital LLC acquired a new position in Republic Services in the 3rd quarter worth about $34,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of Republic Services during the 2nd quarter worth about $36,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Price Performance

NYSE:RSG opened at $216.50 on Monday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64. Republic Services, Inc. has a one year low of $160.38 and a one year high of $220.58. The company has a fifty day moving average price of $206.22 and a 200 day moving average price of $200.08. The stock has a market cap of $67.80 billion, a P/E ratio of 34.93, a PEG ratio of 3.34 and a beta of 0.70.

Republic Services (NYSE:RSG) last announced its quarterly earnings data 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. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The business had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same quarter in the prior year, the business earned $1.54 earnings per share. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. Analysts anticipate that Republic Services, Inc. will post 6.24 earnings per share for the current year.

Republic Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s payout ratio is presently 37.12%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Royal Bank of Canada increased their price objective on Republic Services from $211.00 to $219.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. Oppenheimer raised their price target on shares of Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Truist Financial upped their price objective on shares of Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley raised their target price on Republic Services from $208.00 to $217.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Scotiabank assumed coverage on Republic Services in a report on Friday, October 4th. They set a “sector perform” rating and a $224.00 price objective on the stock. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently 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 company’s stock in a transaction dated Tuesday, November 19th. The shares were 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 owns 6,318 shares of the company’s stock, valued at $1,326,906.36. The trade was a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.09% of the stock is currently 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.