Pallas Capital Advisors LLC Purchases New Holdings in Republic Services, Inc. (NYSE:RSG)

Pallas Capital Advisors LLC bought a new stake in shares of Republic Services, Inc. (NYSE:RSG) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,015 shares of the business services provider’s stock, valued at approximately $204,000.

A number of other hedge funds also recently modified their holdings of RSG. FSA Wealth Management LLC purchased a new stake in Republic Services in the 3rd quarter worth about $25,000. Wolff Wiese Magana LLC lifted its position in shares of Republic Services by 351.6% in the third quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock worth $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 during the third quarter worth approximately $31,000. Truvestments Capital LLC purchased a new position in Republic Services during the third quarter valued at approximately $34,000. Finally, Itau Unibanco Holding S.A. acquired a new position in Republic Services in the 2nd quarter valued at approximately $36,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insider Activity

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the firm’s 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 completion of the transaction, the chief financial officer now directly owns 6,318 shares of the company’s stock, valued at $1,326,906.36. This trade represents a 44.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Katharine Weymouth sold 1,859 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $215.27, for a total transaction of $400,186.93. Following the completion of the sale, the director now directly owns 879 shares in the company, valued at $189,222.33. This trade represents a 67.90 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Scotiabank assumed coverage on shares of Republic Services in a report on Friday, October 4th. They set a “sector perform” rating and a $224.00 price target on the stock. BMO Capital Markets raised Republic Services from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $211.00 to $238.00 in a research report on Friday, December 6th. CIBC boosted their price target on Republic Services from $217.00 to $227.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Truist Financial raised their price objective on shares of Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Republic Services from a “hold” rating to a “buy” rating and increased their price target for the stock from $219.00 to $237.00 in a research note on Tuesday, December 10th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Republic Services currently has a consensus rating of “Moderate Buy” and an average target price of $221.12.

Republic Services Trading Up 1.3 %

Republic Services stock opened at $209.66 on Thursday. The business’s 50-day simple moving average is $209.10 and its 200-day simple moving average is $204.20. Republic Services, Inc. has a 52 week low of $165.06 and a 52 week high of $220.58. The firm has a market capitalization of $65.66 billion, a PE ratio of 33.55, a PEG ratio of 3.30 and a beta of 0.73. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.20. The company had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.54 earnings per share. Equities research analysts forecast that Republic Services, Inc. will post 6.25 earnings per share for the current year.

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were given a $0.58 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.32 annualized dividend and a yield of 1.11%. Republic Services’s dividend payout ratio is 37.12%.

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.