Oppenheimer & Co. Inc. Has $2.01 Million Stake in Republic Services, Inc. (NYSE:RSG)

Oppenheimer & Co. Inc. reduced its stake in Republic Services, Inc. (NYSE:RSG) by 26.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,996 shares of the business services provider’s stock after selling 3,510 shares during the period. Oppenheimer & Co. Inc.’s holdings in Republic Services were worth $2,008,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Capital World Investors increased its position in shares of 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 purchasing an additional 1,346,588 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Republic Services by 2.3% in the 3rd 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 buying an additional 57,040 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Republic Services by 5.4% during 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 acquiring an additional 92,013 shares during the period. TD Asset Management Inc increased its stake in Republic Services by 2.1% in the second quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider’s stock valued at $341,602,000 after acquiring an additional 35,650 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Republic Services by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 1,476,116 shares of the business services provider’s stock valued at $286,868,000 after purchasing an additional 3,809 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RSG. Scotiabank started coverage on Republic Services in a research note on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price target on the stock. BMO Capital Markets boosted their target price on Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Truist Financial raised their price target on shares of Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. TD Cowen upped their price objective 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. Finally, Stifel Nicolaus raised their target price on shares of Republic Services from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Nine investment 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.71.

Republic Services Price Performance

RSG stock opened at $208.04 on Monday. The company’s fifty day simple moving average is $203.84 and its 200 day simple moving average is $198.10. Republic Services, Inc. has a 12-month low of $157.46 and a 12-month high of $216.18. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. The firm has a market cap of $65.15 billion, a price-to-earnings ratio of 33.29, a PEG ratio of 3.18 and a beta of 0.70.

Republic Services (NYSE:RSG) last released its earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.61 by $0.20. The business 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 firm’s revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.54 earnings per share. On average, analysts expect that Republic Services, Inc. will post 6.24 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s payout ratio is 37.12%.

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.