Healthcare of Ontario Pension Plan Trust Fund Purchases 9,221 Shares of Republic Services, Inc. (NYSE:RSG)

Healthcare of Ontario Pension Plan Trust Fund boosted its position in Republic Services, Inc. (NYSE:RSG) by 6.8% during the third quarter, HoldingsChannel reports. The fund owned 145,500 shares of the business services provider’s stock after buying an additional 9,221 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Republic Services were worth $29,222,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its stake in Republic Services by 2.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,520,738 shares of the business services provider’s stock valued at $506,265,000 after acquiring an additional 57,040 shares during the period. Legal & General Group Plc raised its stake in 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 valued at $351,480,000 after acquiring an additional 92,013 shares during the period. TD Asset Management Inc raised its stake in Republic Services by 2.1% in the 2nd quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider’s stock valued at $341,602,000 after acquiring an additional 35,650 shares during the period. Bank of New York Mellon Corp raised its stake in Republic Services by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,476,116 shares of the business services provider’s stock valued at $286,868,000 after acquiring an additional 3,809 shares during the period. Finally, Earnest Partners LLC increased its position in shares of Republic Services by 1.9% during the second quarter. Earnest Partners LLC now owns 1,286,053 shares of the business services provider’s stock valued at $249,932,000 after buying an additional 23,534 shares during the period. 57.73% of the stock is currently owned by institutional investors.

Republic Services Stock Down 0.2 %

Shares of RSG opened at $218.28 on Thursday. The firm has a market cap of $68.35 billion, a P/E ratio of 34.92, a P/E/G ratio of 3.33 and a beta of 0.70. The stock has a 50 day simple moving average of $205.53 and a two-hundred day simple moving average of $199.56. 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 1 year low of $159.10 and a 1 year high of $220.58.

Republic Services (NYSE:RSG) last issued its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.20. The business 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 revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.54 earnings per share. On average, analysts forecast that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

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

Analyst Upgrades and Downgrades

RSG has been the topic of several analyst reports. CIBC upped their price target on Republic Services from $208.00 to $217.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. StockNews.com cut Republic Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. William Blair initiated coverage on Republic Services in a research report on Thursday, October 3rd. They set an “outperform” rating on the stock. Scotiabank initiated coverage on Republic Services in a research report on Friday, October 4th. They set a “sector perform” rating and a $224.00 price target on the stock. Finally, Royal Bank of Canada upped their price target on Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $215.71.

Insider Activity

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the company’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 transaction of $1,065,011.42. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.09% of the company’s stock.

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.