Quantum Private Wealth LLC Acquires Shares of 1,000 Republic Services, Inc. (NYSE:RSG)

Quantum Private Wealth LLC acquired a new stake in shares of Republic Services, Inc. (NYSE:RSG) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 1,000 shares of the business services provider’s stock, valued at approximately $201,000.

A number of other hedge funds have also added to or reduced their stakes in RSG. Duality Advisers LP purchased a new position in Republic Services during the 1st quarter valued at $332,000. Empirical Finance LLC boosted its holdings in shares of Republic Services by 3.4% during the 1st quarter. Empirical Finance LLC now owns 7,468 shares of the business services provider’s stock valued at $1,430,000 after buying an additional 249 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Republic Services by 11.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 57,461 shares of the business services provider’s stock valued at $11,000,000 after buying an additional 5,744 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Republic Services by 7.0% during the 1st quarter. Empowered Funds LLC now owns 13,434 shares of the business services provider’s stock valued at $2,565,000 after buying an additional 883 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of Republic Services by 7.1% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,017 shares of the business services provider’s stock valued at $386,000 after buying an additional 134 shares in the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Tomago Collins sold 3,200 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were 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 of the company’s stock, valued at approximately $3,549,832.86. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.09% of the stock is currently owned by insiders.

Republic Services Price Performance

NYSE RSG opened at $209.00 on Friday. Republic Services, Inc. has a 52 week low of $154.92 and a 52 week high of $209.78. The firm has a market capitalization of $65.45 billion, a P/E ratio of 33.29, a PEG ratio of 3.07 and a beta of 0.70. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. The company has a 50-day moving average price of $203.21 and a 200-day moving average price of $197.10.

Republic Services (NYSE:RSG) last released its earnings results 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. The company had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.54 EPS. Equities research analysts anticipate that Republic Services, Inc. will post 6.24 earnings per share for the current year.

Republic Services Announces Dividend

The company also recently announced 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 yield of 1.11%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s dividend payout ratio is 37.12%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RSG. Raymond James dropped their price target on shares of Republic Services from $219.00 to $214.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. William Blair began coverage on shares of Republic Services in a research note on Thursday, October 3rd. They issued an “outperform” rating on the stock. BMO Capital Markets upped their price target on shares of Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Truist Financial boosted their target price on Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Robert W. Baird boosted their target price on Republic Services from $208.00 to $210.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $215.71.

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.