Rydar Equities Inc. Purchases Shares of 2,541 Republic Services, Inc. $RSG

Rydar Equities Inc. acquired a new stake in shares of Republic Services, Inc. (NYSE:RSG) during the 2nd quarter, Holdings Channel reports. The firm acquired 2,541 shares of the business services provider’s stock, valued at approximately $627,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RSG. Norges Bank bought a new position in Republic Services in the second quarter worth approximately $690,313,000. M&G PLC raised its position in shares of Republic Services by 113.0% during the second quarter. M&G PLC now owns 1,164,656 shares of the business services provider’s stock worth $287,670,000 after purchasing an additional 617,939 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Republic Services by 118.4% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 806,409 shares of the business services provider’s stock worth $198,869,000 after purchasing an additional 437,190 shares in the last quarter. Qube Research & Technologies Ltd grew its position in Republic Services by 174.6% in the 2nd quarter. Qube Research & Technologies Ltd now owns 685,448 shares of the business services provider’s stock valued at $169,038,000 after purchasing an additional 435,816 shares during the period. Finally, Invesco Ltd. increased its stake in Republic Services by 21.3% during the 2nd quarter. Invesco Ltd. now owns 2,325,302 shares of the business services provider’s stock valued at $573,443,000 after purchasing an additional 408,885 shares in the last quarter. 57.73% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Katharine Weymouth bought 478 shares of Republic Services stock in a transaction dated Tuesday, December 9th. The stock was purchased at an average cost of $209.46 per share, with a total value of $100,121.88. Following the transaction, the director directly owned 5,740 shares of the company’s stock, valued at approximately $1,202,300.40. The trade was a 9.08% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.11% of the stock is currently owned by insiders.

Republic Services Stock Performance

RSG stock opened at $213.55 on Monday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. The firm has a market cap of $66.11 billion, a PE ratio of 31.78, a P/E/G ratio of 3.42 and a beta of 0.54. The business has a 50 day moving average of $215.06 and a 200-day moving average of $230.10. Republic Services, Inc. has a 12-month low of $199.43 and a 12-month high of $258.75.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Friday, October 31st. The business services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.12. The firm had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.25 billion. Republic Services had a return on equity of 18.24% and a net margin of 12.77%.The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.81 EPS. As a group, sell-side analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd will be given a $0.625 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.50 annualized dividend and a yield of 1.2%. Republic Services’s payout ratio is currently 37.20%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Republic Services in a research note on Monday, November 24th. They issued a “buy” rating and a $255.00 price objective on the stock. Robert W. Baird set a $240.00 price target on shares of Republic Services in a research report on Friday, October 31st. Scotiabank lowered their price objective on Republic Services from $250.00 to $246.00 and set a “sector perform” rating for the company in a research note on Friday, October 31st. Barclays started coverage on Republic Services in a report on Friday, September 19th. They set an “equal weight” rating and a $240.00 price target for the company. Finally, National Bankshares dropped their price objective on Republic Services from $270.00 to $241.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $251.10.

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.