Bank of Montreal Can Increases Position in Republic Services, Inc. (NYSE:RSG)

Bank of Montreal Can boosted its position in shares of Republic Services, Inc. (NYSE:RSG) by 3.0% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 391,857 shares of the business services provider’s stock after acquiring an additional 11,569 shares during the quarter. Bank of Montreal Can’s holdings in Republic Services were worth $78,128,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. EntryPoint Capital LLC acquired a new stake in shares of Republic Services during the first quarter worth about $29,000. Tidal Investments LLC boosted its holdings in shares of Republic Services by 55.1% in the 1st quarter. Tidal Investments LLC now owns 10,093 shares of the business services provider’s stock valued at $1,932,000 after acquiring an additional 3,587 shares during the last quarter. National Wealth Management Group LLC purchased a new position in shares of Republic Services during the first quarter worth $469,000. Heartland Bank & Trust Co acquired a new position in Republic Services during the first quarter valued at $215,000. Finally, Swedbank AB purchased a new stake in Republic Services in the first quarter valued at $8,792,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Stock Up 0.4 %

Shares of NYSE RSG opened at $218.80 on Wednesday. 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 50-day moving average of $205.15 and a 200 day moving average of $199.43. Republic Services, Inc. has a 12-month low of $159.10 and a 12-month high of $219.94. The stock has a market cap of $68.52 billion, a PE ratio of 35.01, a P/E/G ratio of 3.33 and a beta of 0.70.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.61 by $0.20. The firm had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.54 earnings per share. As a group, sell-side analysts predict that Republic Services, Inc. will post 6.24 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.06%. Republic Services’s payout ratio is 37.12%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Morgan Stanley boosted their price objective on Republic Services from $208.00 to $217.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Scotiabank began coverage on shares of Republic Services in a research report on Friday, October 4th. They set a “sector perform” rating and a $224.00 price target on the stock. Oppenheimer increased their target price on shares of Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Truist Financial lifted 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. Finally, StockNews.com downgraded Republic Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $215.71.

Insider Buying and Selling

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total value of $1,065,011.42. Following the sale, the chief financial officer now owns 6,318 shares in the company, valued at $1,326,906.36. The trade was a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is owned by company insiders.

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.