Edgestream Partners L.P. Has $2.73 Million Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Edgestream Partners L.P. grew its position in Republic Services, Inc. (NYSE:RSG) by 2.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,585 shares of the business services provider’s stock after purchasing an additional 327 shares during the period. Edgestream Partners L.P.’s holdings in Republic Services were worth $2,728,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wolff Wiese Magana LLC boosted its stake in shares of Republic Services by 351.6% in the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 109 shares in the last quarter. Webster Bank N. A. acquired a new stake in shares of Republic Services in the 3rd quarter valued at $31,000. Truvestments Capital LLC acquired a new stake in shares of Republic Services in the 3rd quarter valued at $34,000. Itau Unibanco Holding S.A. acquired a new position in Republic Services during the 2nd quarter worth about $36,000. Finally, Ashton Thomas Securities LLC acquired a new position in Republic Services during the 3rd quarter worth about $39,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Wall Street Analysts Forecast Growth

RSG has been the topic of several research reports. TD Cowen upped their price target on shares of Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. William Blair initiated coverage on shares of Republic Services in a research report on Thursday, October 3rd. They set an “outperform” rating on the stock. Truist Financial upped their price target on shares of Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer upped their price target on shares of Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Scotiabank started coverage on Republic Services in a report on Friday, October 4th. They set a “sector perform” rating and a $224.00 price objective for the company. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $215.71.

Republic Services Stock Performance

Shares of RSG stock opened at $218.30 on Monday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a 50-day moving average of $206.22 and a 200-day moving average of $200.08. Republic Services, Inc. has a one year low of $159.38 and a one year high of $220.58. The stock has a market cap of $68.36 billion, a PE ratio of 34.93, a price-to-earnings-growth ratio of 3.34 and a beta of 0.70.

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

Republic Services Dividend Announcement

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

Insiders Place Their Bets

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 6,318 shares of the company’s stock, valued at approximately $1,326,906.36. This represents a 44.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.09% of the company’s stock.

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.