Davis Capital Management Has $2.17 Million Holdings in Republic Services, Inc. (NYSE:RSG)

Davis Capital Management decreased its stake in Republic Services, Inc. (NYSE:RSG) by 1.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,804 shares of the business services provider’s stock after selling 106 shares during the quarter. Republic Services makes up about 1.7% of Davis Capital Management’s investment portfolio, making the stock its 11th largest position. Davis Capital Management’s holdings in Republic Services were worth $2,170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of RSG. Unigestion Holding SA increased its position in shares of Republic Services by 2,178.2% during the 4th quarter. Unigestion Holding SA now owns 127,647 shares of the business services provider’s stock worth $21,048,000 after purchasing an additional 122,044 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Republic Services by 123.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 38,869 shares of the business services provider’s stock valued at $6,410,000 after acquiring an additional 21,481 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of Republic Services by 8.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 239,031 shares of the business services provider’s stock worth $45,760,000 after acquiring an additional 19,414 shares in the last quarter. Running Oak Capital LLC grew its position in Republic Services by 12.3% during the 1st quarter. Running Oak Capital LLC now owns 59,310 shares of the business services provider’s stock worth $11,347,000 after acquiring an additional 6,475 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Republic Services by 32.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,296 shares of the business services provider’s stock valued at $18,052,000 after purchasing an additional 23,306 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RSG. Robert W. Baird increased their target price on Republic Services from $208.00 to $210.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Oppenheimer reduced their target price on shares of Republic Services from $211.00 to $210.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Royal Bank of Canada raised their price target on shares of Republic Services from $201.00 to $211.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. StockNews.com lowered Republic Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Truist Financial upgraded Republic Services from a “hold” rating to a “buy” rating and boosted their target price for the stock from $192.00 to $220.00 in a research report on Thursday, July 11th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $211.00.

Insiders Place Their Bets

In other news, Director Tomago Collins sold 3,200 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $203.01, for a total transaction of $649,632.00. Following the transaction, the director now directly owns 17,486 shares in the company, valued at approximately $3,549,832.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.09% of the company’s stock.

Republic Services Trading Down 0.3 %

NYSE RSG opened at $200.09 on Thursday. Republic Services, Inc. has a 52 week low of $140.23 and a 52 week high of $208.69. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.59 and a current ratio of 0.59. The stock’s 50 day moving average price is $202.09 and its two-hundred day moving average price is $194.72. The stock has a market capitalization of $62.84 billion, a price-to-earnings ratio of 35.10, a PEG ratio of 3.20 and a beta of 0.70.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.61 EPS for the quarter, topping the consensus estimate of $1.53 by $0.08. The firm had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.03 billion. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. As a group, analysts anticipate that Republic Services, Inc. will post 6.18 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd will be paid a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This is a boost from Republic Services’s previous quarterly dividend of $0.54. This represents a $2.32 annualized dividend and a dividend yield of 1.16%. Republic Services’s dividend payout ratio (DPR) is currently 37.54%.

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.