First Horizon Advisors Inc. Buys 55 Shares of Republic Services, Inc. (NYSE:RSG)

24 Nov 2024, 09:34 by Tristan Rich · The Markets Daily

First Horizon Advisors Inc. boosted its position in Republic Services, Inc. (NYSE:RSG – Free Report) by 11.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 529 shares of the business services provider’s stock after acquiring an additional 55 shares during the quarter. First Horizon Advisors Inc.’s holdings in Republic Services were worth $106,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in RSG. Allspring Global Investments Holdings LLC raised its holdings in shares of Republic Services by 2.3% during 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 raised its stake in shares of Republic Services by 5.4% during the second 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 in the last quarter. TD Asset Management Inc lifted its holdings in shares of Republic Services by 2.1% in the 2nd quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider’s stock worth $341,602,000 after acquiring an additional 35,650 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Republic Services by 0.3% in the 2nd 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. Finally, Earnest Partners LLC raised its position in Republic Services by 1.9% in the 2nd quarter. Earnest Partners LLC now owns 1,286,053 shares of the business services provider’s stock worth $249,932,000 after purchasing an additional 23,534 shares during the period. Institutional investors own 57.73% of the company’s stock.

Insider Activity at Republic Services

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the sale, the chief financial officer now owns 6,318 shares of the company’s stock, valued at $1,326,906.36. This trade represents a 44.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.09% of the stock is currently owned by insiders.

Republic Services Stock Up 1.3 %

Shares of NYSE:RSG opened at $216.79 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. The stock has a fifty day simple moving average of $204.56 and a two-hundred day simple moving average of $198.93. Republic Services, Inc. has a 12-month low of $159.10 and a 12-month high of $216.86. The stock has a market capitalization of $67.89 billion, a price-to-earnings ratio of 34.69, a PEG ratio of 3.27 and a beta of 0.70.

Republic Services (NYSE:RSG – Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.20. The company had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. Republic Services’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.54 EPS. On average, research analysts anticipate that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a $0.58 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 1.07%. Republic Services’s payout ratio is currently 37.12%.

Wall Street Analyst Weigh In

RSG has been the subject of several analyst reports. Scotiabank assumed coverage on shares of Republic Services in a research report on Friday, October 4th. They set a “sector perform” rating and a $224.00 price target for the company. Morgan Stanley increased their target price on Republic Services from $208.00 to $217.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. William Blair started coverage on Republic Services in a research report on Thursday, October 3rd. They issued an “outperform” rating for the company. StockNews.com lowered Republic Services from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, CIBC lifted their target price on shares of Republic Services from $208.00 to $217.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $215.71.

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Republic Services Company Profile

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