1832 Asset Management L.P. Has $38.66 Million Stake in Republic Services, Inc. (NYSE:RSG)

1832 Asset Management L.P. increased its stake in shares of Republic Services, Inc. (NYSE:RSG) by 1.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,924 shares of the business services provider’s stock after buying an additional 3,064 shares during the quarter. 1832 Asset Management L.P. owned about 0.06% of Republic Services worth $38,659,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in RSG. Unigestion Holding SA increased its position in shares of Republic Services by 2,178.2% in the fourth quarter. Unigestion Holding SA now owns 127,647 shares of the business services provider’s stock worth $21,048,000 after purchasing an additional 122,044 shares during the period. Bank of Nova Scotia raised its position in shares of Republic Services by 52.3% in the 4th quarter. Bank of Nova Scotia now owns 214,504 shares of the business services provider’s stock valued at $35,357,000 after buying an additional 73,651 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Republic Services by 8.7% during the 4th quarter. Hsbc Holdings PLC now owns 456,726 shares of the business services provider’s stock worth $75,297,000 after acquiring an additional 36,484 shares during the period. Allianz Asset Management GmbH boosted its position in shares of Republic Services by 10.4% during the 4th quarter. Allianz Asset Management GmbH now owns 591,209 shares of the business services provider’s stock worth $97,496,000 after acquiring an additional 55,668 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Republic Services by 123.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 38,869 shares of the business services provider’s stock valued at $6,410,000 after purchasing an additional 21,481 shares in the last quarter. Institutional investors own 57.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on RSG shares. Stifel Nicolaus raised their target price on Republic Services from $215.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, July 25th. BMO Capital Markets lifted their target price on Republic Services from $209.00 to $211.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. StockNews.com cut shares of Republic Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Royal Bank of Canada lifted their price target on shares of Republic Services from $201.00 to $211.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Finally, Truist Financial upgraded shares of Republic Services from a “hold” rating to a “buy” rating and raised their target price for the company from $192.00 to $220.00 in a research report on Thursday, July 11th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $211.00.

Republic Services Price Performance

Shares of RSG opened at $201.39 on Monday. The business has a 50-day moving average of $202.28 and a 200-day moving average of $193.86. Republic Services, Inc. has a 1 year low of $140.23 and a 1 year high of $208.69. The company has a market capitalization of $63.42 billion, a price-to-earnings ratio of 35.33, a price-to-earnings-growth ratio of 3.30 and a beta of 0.70. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.59 and a quick ratio of 0.59.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.08. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. The firm had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.03 billion. As a group, equities research analysts anticipate that Republic Services, Inc. will post 6.18 earnings per share for the current year.

Republic Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be given a $0.58 dividend. The ex-dividend date is Wednesday, October 2nd. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. This represents a $2.32 annualized dividend and a dividend yield of 1.15%. Republic Services’s dividend payout ratio (DPR) is 40.70%.

Insider Activity

In other Republic Services news, Director Tomago Collins sold 3,200 shares of Republic Services stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $203.01, for a total value of $649,632.00. Following the completion of the sale, the director now directly owns 17,486 shares in the company, valued at $3,549,832.86. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.09% of the stock is owned by company insiders.

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.