Park Avenue Securities LLC Acquires 2,534 Shares of Republic Services, Inc. (NYSE:RSG)

Park Avenue Securities LLC increased its holdings in Republic Services, Inc. (NYSE:RSG) by 49.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,702 shares of the business services provider’s stock after buying an additional 2,534 shares during the period. Park Avenue Securities LLC’s holdings in Republic Services were worth $1,549,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. TCW Group Inc. lifted its stake in Republic Services by 13.0% in the 3rd quarter. TCW Group Inc. now owns 114,582 shares of the business services provider’s stock worth $23,013,000 after purchasing an additional 13,138 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Republic Services in the 3rd quarter worth approximately $6,102,000. Lifeworks Advisors LLC lifted its stake 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 worth $4,312,000 after purchasing an additional 19,698 shares in the last quarter. Pallas Capital Advisors LLC purchased a new stake in Republic Services in the 4th quarter worth approximately $204,000. Finally, Assenagon Asset Management S.A. raised its position in shares of Republic Services by 15.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 5,663 shares of the business services provider’s stock valued at $1,137,000 after buying an additional 746 shares in the last quarter. 57.73% of the stock is owned by institutional investors.

Republic Services Stock Performance

RSG opened at $213.85 on Friday. Republic Services, Inc. has a 12-month low of $165.99 and a 12-month high of $220.58. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $66.97 billion, a PE ratio of 34.22, a P/E/G ratio of 2.98 and a beta of 0.73. The firm has a 50 day moving average of $209.27 and a two-hundred day moving average of $204.44.

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

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.58 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.32 annualized dividend and a yield of 1.08%. Republic Services’s dividend payout ratio (DPR) is presently 37.12%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on RSG shares. BMO Capital Markets upgraded shares of Republic Services from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $211.00 to $238.00 in a research report on Friday, December 6th. Truist Financial lifted 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 lifted their target price 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, December 12th. Royal Bank of Canada upgraded shares of Republic Services from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $219.00 to $237.00 in a research report on Monday, January 6th. Finally, William Blair initiated coverage on shares of Republic Services in a research report on Thursday, October 3rd. They issued an “outperform” rating on the stock. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $221.12.

Insiders Place Their Bets

In other Republic Services news, Director Katharine Weymouth sold 1,859 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $215.27, for a total transaction of $400,186.93. Following the sale, the director now directly owns 879 shares in the company, valued at $189,222.33. This represents a 67.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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. 0.09% of the stock is currently owned by corporate 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.