Parnassus Investments LLC Has $77.84 Million Stock Holdings in Republic Services, Inc. $RSG

Parnassus Investments LLC reduced its position in Republic Services, Inc. (NYSE:RSG) by 3.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 339,211 shares of the business services provider’s stock after selling 13,222 shares during the quarter. Parnassus Investments LLC owned approximately 0.11% of Republic Services worth $77,842,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in RSG. Financial Consulate Inc. bought a new position in shares of Republic Services during the third quarter valued at $25,000. Cranbrook Wealth Management LLC increased its holdings in shares of Republic Services by 1,222.2% during the second quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider’s stock worth $29,000 after buying an additional 110 shares in the last quarter. NewSquare Capital LLC raised its stake in shares of Republic Services by 68.5% in the second quarter. NewSquare Capital LLC now owns 123 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 50 shares during the last quarter. Foster Dykema Cabot & Partners LLC bought a new stake in Republic Services during the 2nd quarter worth approximately $33,000. Finally, Atticus Wealth Management LLC bought a new position in Republic Services in the 2nd quarter valued at $39,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Buying and Selling

In other Republic Services news, Director Katharine Weymouth purchased 478 shares of the stock in a transaction on Tuesday, December 9th. The shares were purchased at an average cost of $209.46 per share, for a total transaction of $100,121.88. Following the purchase, the director owned 5,740 shares of the company’s stock, valued at approximately $1,202,300.40. This represents a 9.08% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.11% of the company’s stock.

Republic Services Trading Up 0.1%

NYSE RSG opened at $212.17 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.58. The stock’s 50-day moving average is $212.14 and its 200-day moving average is $225.02. Republic Services, Inc. has a one year low of $201.42 and a one year high of $258.75. The firm has a market cap of $65.68 billion, a P/E ratio of 31.57, a P/E/G ratio of 3.46 and a beta of 0.55.

Republic Services (NYSE:RSG) last announced 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. The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.25 billion. Republic Services had a net margin of 12.77% and a return on equity of 18.24%. The business’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.81 earnings per share. Sell-side analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have weighed in on RSG shares. Raymond James Financial restated an “outperform” rating and issued a $240.00 price objective on shares of Republic Services in a research report on Friday, October 31st. Oppenheimer set a $256.00 price objective on shares of Republic Services in a research report on Friday, October 31st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Republic Services in a research report on Monday, December 29th. Jefferies Financial Group set a $248.00 target price on Republic Services and gave the stock a “buy” rating in a research report on Monday, November 3rd. Finally, Robert W. Baird set a $240.00 price target on Republic Services in a report on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $250.41.

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.