NorthCrest Asset Manangement LLC Purchases 639 Shares of Republic Services, Inc. (NYSE:RSG)

NorthCrest Asset Manangement LLC boosted its position in Republic Services, Inc. (NYSE:RSG) by 1.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,771 shares of the business services provider’s stock after purchasing an additional 639 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Republic Services were worth $8,389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in RSG. Vanguard Group Inc. increased its position in shares of Republic Services by 0.6% in the first quarter. Vanguard Group Inc. now owns 18,254,878 shares of the business services provider’s stock worth $3,494,714,000 after purchasing an additional 101,518 shares during the last quarter. Capital World Investors grew its position in Republic Services by 20.5% in the first quarter. Capital World Investors now owns 7,909,008 shares of the business services provider’s stock worth $1,514,100,000 after acquiring an additional 1,346,588 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Republic Services by 2.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,520,738 shares of the business services provider’s stock valued at $506,265,000 after acquiring an additional 57,040 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Republic Services by 5.4% in 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 purchasing an additional 92,013 shares in the last quarter. Finally, TD Asset Management Inc increased its position 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 valued at $341,602,000 after purchasing an additional 35,650 shares during the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. CIBC upped their target price on Republic Services from $196.00 to $208.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. BMO Capital Markets boosted their price target on shares of Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. StockNews.com downgraded Republic Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. TD Cowen raised their price target on Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. Finally, William Blair initiated coverage on Republic Services in a research note on Thursday, October 3rd. They set an “outperform” rating for the company. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $212.18.

Republic Services Stock Performance

RSG traded down $1.70 during midday trading on Friday, reaching $199.83. The company had a trading volume of 517,348 shares, compared to its average volume of 1,128,713. Republic Services, Inc. has a 1 year low of $145.32 and a 1 year high of $208.69. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.05. The company has a market cap of $62.76 billion, a P/E ratio of 33.47, a P/E/G ratio of 3.27 and a beta of 0.69. The business has a 50-day moving average of $204.09 and a two-hundred day moving average of $196.27.

Republic Services (NYSE:RSG) last released its earnings results on Wednesday, July 24th. The business services provider reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.08. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. The company had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.03 billion. As a group, equities research analysts predict that Republic Services, Inc. will post 6.18 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 Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Thursday, January 2nd. Republic Services’s dividend payout ratio (DPR) is 38.86%.

Insider Buying and Selling

In other Republic Services news, Director Tomago Collins sold 3,200 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $203.01, for a total transaction of $649,632.00. Following the completion of the sale, the director now directly owns 17,486 shares of the company’s stock, valued at $3,549,832.86. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.09% of the stock is currently owned by company 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.