Coldstream Capital Management Inc. Increases Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Coldstream Capital Management Inc. boosted its stake in Republic Services, Inc. (NYSE:RSG) by 16.0% in the third quarter, Holdings Channel reports. The fund owned 3,320 shares of the business services provider’s stock after buying an additional 457 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Republic Services were worth $673,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Republic Services during the 3rd quarter valued at $6,102,000. Lifeworks Advisors LLC boosted its position in Republic Services by 1,112.3% in the 3rd quarter. Lifeworks Advisors LLC now owns 21,469 shares of the business services provider’s stock valued at $4,312,000 after buying an additional 19,698 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Republic Services by 15.2% during the third quarter. Assenagon Asset Management S.A. now owns 5,663 shares of the business services provider’s stock worth $1,137,000 after acquiring an additional 746 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Republic Services in the third quarter worth about $6,579,000. Finally, Y Intercept Hong Kong Ltd boosted its holdings in Republic Services by 79.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 19,070 shares of the business services provider’s stock valued at $3,830,000 after purchasing an additional 8,454 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Transactions at Republic Services

In related news, Director Katharine Weymouth sold 1,859 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $215.27, for a total value of $400,186.93. Following the completion of the transaction, the director now owns 879 shares in the company, valued at $189,222.33. This represents a 67.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the business’s stock in a transaction dated 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 trade represents a 44.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

RSG has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised Republic Services from a “hold” rating to a “buy” rating and upped their target price for the company from $219.00 to $237.00 in a research report on Tuesday. CIBC increased their price objective on shares of Republic Services from $217.00 to $227.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Truist Financial boosted their target price on shares of Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley increased their price target on shares of Republic Services from $217.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, BMO Capital Markets upgraded Republic Services from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $211.00 to $238.00 in a research note on Friday, December 6th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $220.06.

Republic Services Stock Performance

Shares of RSG opened at $208.97 on Friday. The firm has a fifty day moving average of $208.53 and a 200-day moving average of $201.71. The company has a market cap of $65.44 billion, a price-to-earnings ratio of 33.44, a price-to-earnings-growth ratio of 3.21 and a beta of 0.71. 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 1 year low of $160.65 and a 1 year high of $220.58.

Republic Services (NYSE:RSG) last posted its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.20. The firm had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. Republic Services’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.54 EPS. As a group, equities analysts anticipate that Republic Services, Inc. will post 6.25 earnings per share for the current year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s payout ratio is currently 37.12%.

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.