Quadrature Capital Ltd Makes New Investment in Republic Services, Inc. (NYSE:RSG)

Quadrature Capital Ltd bought a new position in Republic Services, Inc. (NYSE:RSG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 7,385 shares of the business services provider’s stock, valued at approximately $1,218,000.

A number of other large investors have also made changes to their positions in the company. Raleigh Capital Management Inc. raised its stake in Republic Services by 19.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 357 shares of the business services provider’s stock valued at $59,000 after purchasing an additional 59 shares during the period. Scotia Capital Inc. boosted its position in Republic Services by 2.4% during the 4th quarter. Scotia Capital Inc. now owns 2,708 shares of the business services provider’s stock worth $447,000 after acquiring an additional 64 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Republic Services by 0.3% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,150 shares of the business services provider’s stock valued at $4,147,000 after purchasing an additional 66 shares during the period. Parcion Private Wealth LLC lifted its position in shares of Republic Services by 0.3% in the fourth quarter. Parcion Private Wealth LLC now owns 23,808 shares of the business services provider’s stock worth $3,926,000 after purchasing an additional 68 shares in the last quarter. Finally, WASHINGTON TRUST Co grew its position in Republic Services by 4.5% during the fourth quarter. WASHINGTON TRUST Co now owns 1,620 shares of the business services provider’s stock valued at $267,000 after purchasing an additional 70 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Activity at Republic Services

In other news, CMO Amanda Hodges sold 6,500 shares of Republic Services stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the sale, the chief marketing officer now owns 6,831 shares of the company’s stock, valued at approximately $1,270,702.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CMO Amanda Hodges sold 6,500 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the completion of the transaction, the chief marketing officer now directly owns 6,831 shares of the company’s stock, valued at approximately $1,270,702.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Katharine Weymouth bought 540 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was acquired at an average cost of $185.26 per share, for a total transaction of $100,040.40. Following the purchase, the director now owns 540 shares of the company’s stock, valued at $100,040.40. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RSG. Royal Bank of Canada initiated coverage on shares of Republic Services in a research note on Monday, April 8th. They set a “sector perform” rating and a $198.00 target price for the company. Scotiabank upped their target price on Republic Services from $211.00 to $213.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 1st. The Goldman Sachs Group lifted their price target on Republic Services from $209.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. BMO Capital Markets increased their price objective on Republic Services from $173.00 to $195.00 and gave the stock a “market perform” rating in a report on Wednesday, February 28th. Finally, Truist Financial boosted their target price on shares of Republic Services from $175.00 to $192.00 and gave the stock a “hold” rating in a research report on Wednesday, February 28th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $201.14.

Republic Services Price Performance

NYSE RSG opened at $191.85 on Thursday. The stock has a market capitalization of $60.42 billion, a PE ratio of 33.66, a P/E/G ratio of 3.22 and a beta of 0.68. The stock has a 50-day simple moving average of $188.00 and a 200 day simple moving average of $179.69. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.53 and a current ratio of 0.53. Republic Services, Inc. has a twelve month low of $140.23 and a twelve month high of $196.76.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Tuesday, April 30th. The business services provider reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.10. The business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.89 billion. Republic Services had a net margin of 11.81% and a return on equity of 17.56%. Republic Services’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the company posted $1.24 earnings per share. Research analysts anticipate that Republic Services, Inc. will post 6.05 EPS for the current year.

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Tuesday, July 2nd will be given a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Tuesday, July 2nd. Republic Services’s dividend payout ratio (DPR) is presently 37.54%.

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.