1,050 Shares in Republic Services, Inc. (NYSE:RSG) Purchased by Covington Investment Advisors Inc.

Covington Investment Advisors Inc. purchased a new position in shares of Republic Services, Inc. (NYSE:RSG) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,050 shares of the business services provider’s stock, valued at approximately $211,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its position in Republic Services by 2.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,520,738 shares of the business services provider’s stock worth $506,265,000 after buying an additional 57,040 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Republic Services by 5.4% during the 2nd quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider’s stock worth $351,480,000 after acquiring an additional 92,013 shares during the period. TD Asset Management Inc increased its holdings in shares of Republic Services by 2.1% during the 2nd quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider’s stock worth $341,602,000 after acquiring an additional 35,650 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Republic Services by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,476,116 shares of the business services provider’s stock valued at $286,868,000 after acquiring an additional 3,809 shares during the period. Finally, Earnest Partners LLC boosted its position in Republic Services by 1.9% during the second quarter. Earnest Partners LLC now owns 1,286,053 shares of the business services provider’s stock worth $249,932,000 after purchasing an additional 23,534 shares during the period. Institutional investors own 57.73% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RSG. TD Cowen increased their price objective on shares of Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Oppenheimer increased their price target on shares of Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. CIBC boosted 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. Royal Bank of Canada increased their target price on Republic Services from $211.00 to $219.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. Finally, Truist Financial boosted their price target on Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $215.71.

Republic Services Stock Performance

Shares of Republic Services stock opened at $217.83 on Tuesday. 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 company has a market cap of $68.21 billion, a PE ratio of 34.85, a price-to-earnings-growth ratio of 3.31 and a beta of 0.70. The company has a 50 day moving average of $204.81 and a 200-day moving average of $199.22. Republic Services, Inc. has a 1-year low of $159.10 and a 1-year high of $218.90.

Republic Services (NYSE:RSG) last issued its earnings results 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 return on equity of 18.18% and a net margin of 12.46%. The firm had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter last year, the business posted $1.54 EPS. The company’s revenue was up 6.5% compared to the same quarter last year. As a group, equities research analysts forecast that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a $0.58 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.07%. Republic Services’s dividend payout ratio (DPR) is currently 37.12%.

Insider Activity

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $1,326,906.36. This trade represents a 44.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

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.