Connor Clark & Lunn Investment Management Ltd. Invests $6.10 Million in Republic Services, Inc. (NYSE:RSG)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Republic Services, Inc. (NYSE:RSG) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 30,384 shares of the business services provider’s stock, valued at approximately $6,102,000.

A number of other institutional investors have also recently bought and sold shares of RSG. Wolff Wiese Magana LLC increased its holdings in shares of Republic Services by 351.6% in the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 109 shares during the period. EntryPoint Capital LLC acquired a new position in Republic Services in the 1st quarter valued at approximately $29,000. Webster Bank N. A. acquired a new stake in shares of Republic Services during the 3rd quarter valued at $31,000. Itau Unibanco Holding S.A. purchased a new position in shares of Republic Services during the 2nd quarter valued at $36,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Republic Services in the third quarter worth $39,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RSG. Truist Financial boosted their target price on Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. CIBC increased their price objective on Republic Services from $208.00 to $217.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. TD Cowen lifted their target price on shares of Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a research note on Monday, August 5th. Oppenheimer increased their price target on shares of Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, StockNews.com lowered shares of Republic Services from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $215.71.

Insider Activity

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services stock in a transaction on Tuesday, November 19th. The shares were 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. The trade was a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is currently owned by company insiders.

Republic Services Trading Up 1.3 %

Shares of Republic Services stock opened at $216.79 on Friday. The company has a market cap of $67.89 billion, a price-to-earnings ratio of 34.69, a PEG ratio of 3.22 and a beta of 0.70. Republic Services, Inc. has a 1 year low of $159.10 and a 1 year high of $216.86. The company’s fifty day simple moving average is $204.56 and its 200-day simple moving average is $198.86. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07.

Republic Services (NYSE:RSG) last posted its quarterly earnings data 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. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The company had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the previous year, the firm posted $1.54 EPS. The business’s revenue was up 6.5% compared to the same quarter last year. As a group, sell-side analysts expect that Republic Services, Inc. will post 6.24 EPS for the current year.

Republic Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Thursday, January 2nd. Republic Services’s payout ratio is presently 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.