USA Financial Formulas Has $564,000 Stock Holdings in Republic Services, Inc. $RSG

USA Financial Formulas lowered its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 49.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,459 shares of the business services provider’s stock after selling 2,426 shares during the period. USA Financial Formulas’ holdings in Republic Services were worth $564,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in RSG. Norges Bank acquired a new stake in shares of Republic Services during the 2nd quarter worth approximately $690,313,000. M&G PLC boosted its stake in 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 acquiring an additional 617,939 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Republic Services by 118.4% in the second 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 during the period. Qube Research & Technologies Ltd increased its stake in Republic Services by 174.6% in the second 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 in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Republic Services by 21.3% during the second 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 during the period. 57.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Republic Services in a research note on Monday, December 15th. Raymond James Financial reiterated an “outperform” rating and issued a $240.00 price target on shares of Republic Services in a report 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 objective for the company. National Bankshares cut their target price on Republic Services from $270.00 to $241.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 7th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Republic Services from $260.00 to $233.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $251.10.

Insider Activity at Republic Services

In other Republic Services news, Director Katharine Weymouth purchased 478 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The shares were acquired at an average cost of $209.46 per share, for a total transaction of $100,121.88. Following the completion of the acquisition, the director owned 5,740 shares of the company’s stock, valued at $1,202,300.40. The trade was a 9.08% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.11% of the company’s stock.

Republic Services Trading Down 0.2%

NYSE RSG opened at $212.97 on Friday. Republic Services, Inc. has a 12 month low of $199.43 and a 12 month high of $258.75. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $65.93 billion, a P/E ratio of 31.69, a PEG ratio of 3.41 and a beta of 0.54. The business has a fifty day simple moving average of $214.12 and a 200 day simple moving average of $228.80.

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

Republic Services Dividend Announcement

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

About Republic Services

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.