Sanctuary Advisors LLC Grows Position in Republic Services, Inc. (NYSE:RSG)

Sanctuary Advisors LLC lifted its position in shares of Republic Services, Inc. (NYSE:RSG) by 28.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 34,065 shares of the business services provider’s stock after purchasing an additional 7,608 shares during the quarter. Sanctuary Advisors LLC’s holdings in Republic Services were worth $7,385,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RSG. TCW Group Inc. increased its position in shares of Republic Services by 13.0% in the third quarter. TCW Group Inc. now owns 114,582 shares of the business services provider’s stock worth $23,013,000 after acquiring an additional 13,138 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Republic Services in the third quarter valued at about $6,102,000. Lifeworks Advisors LLC lifted its stake in shares of Republic Services by 1,112.3% during the third 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. Assenagon Asset Management S.A. grew its stake in shares of Republic Services by 15.2% in the third 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. Finally, Quantbot Technologies LP purchased a new stake in shares of Republic Services during the 3rd quarter valued at about $6,579,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Activity at Republic Services

In other news, Director Katharine Weymouth sold 1,859 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $215.27, for a total transaction of $400,186.93. Following the completion of the transaction, the director now owns 879 shares of the company’s stock, valued at approximately $189,222.33. The trade was a 67.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 6,318 shares in the company, valued at approximately $1,326,906.36. This represents a 44.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Republic Services Stock Performance

Republic Services stock opened at $208.97 on Friday. 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 12 month low of $160.65 and a 12 month high of $220.58. The company has a fifty day moving average price of $208.53 and a two-hundred day moving average price of $201.84. The company has a market cap of $65.44 billion, a PE ratio of 33.44, a P/E/G ratio of 3.21 and a beta of 0.71.

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

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s dividend payout ratio (DPR) is 37.12%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a “hold” rating to a “buy” rating and increased their price objective for the company from $219.00 to $237.00 in a research report on Tuesday, December 10th. CIBC raised their price target on shares of Republic Services from $217.00 to $227.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Royal Bank of Canada boosted their price objective on shares of Republic Services from $211.00 to $219.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. Truist Financial raised 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. Finally, Morgan Stanley boosted their price target on Republic Services from $217.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Republic Services has a consensus rating of “Moderate Buy” and an average price target of $220.06.

Republic Services 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.