Generate Investment Management Ltd Purchases 8,817 Shares of Republic Services, Inc. $RSG

Generate Investment Management Ltd increased its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 29.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 39,068 shares of the business services provider’s stock after purchasing an additional 8,817 shares during the quarter. Generate Investment Management Ltd’s holdings in Republic Services were worth $8,965,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RSG. Vanguard Group Inc. grew its holdings in Republic Services by 1.6% during the second quarter. Vanguard Group Inc. now owns 19,057,995 shares of the business services provider’s stock valued at $4,699,892,000 after purchasing an additional 296,719 shares during the period. Geode Capital Management LLC boosted its position in shares of Republic Services by 3.1% during the second quarter. Geode Capital Management LLC now owns 4,821,387 shares of the business services provider’s stock worth $1,187,328,000 after purchasing an additional 144,003 shares in the last quarter. Norges Bank acquired a new position in shares of Republic Services in the 2nd quarter valued at $690,313,000. Franklin Resources Inc. increased its position in shares of Republic Services by 10.1% in the 2nd quarter. Franklin Resources Inc. now owns 2,379,682 shares of the business services provider’s stock valued at $586,854,000 after buying an additional 218,114 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Republic Services by 21.3% during the 2nd quarter. Invesco Ltd. now owns 2,325,302 shares of the business services provider’s stock worth $573,443,000 after buying an additional 408,885 shares during the period. Institutional investors own 57.73% of the company’s stock.

Republic Services Stock Up 0.0%

Republic Services stock opened at $214.56 on Wednesday. Republic Services, Inc. has a fifty-two week low of $199.43 and a fifty-two week high of $258.75. The firm has a market capitalization of $66.42 billion, a PE ratio of 31.93, a P/E/G ratio of 3.69 and a beta of 0.54. The company’s 50-day moving average is $213.07 and its 200-day moving average is $226.80. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.58.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Friday, October 31st. The business services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.12. Republic Services had a return on equity of 18.24% and a net margin of 12.77%.The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.25 billion. During the same quarter in the prior year, the company earned $1.81 earnings per share. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. Sell-side analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Friday, January 2nd will be issued a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.50 annualized dividend and a dividend yield of 1.2%. Republic Services’s dividend payout ratio (DPR) is currently 37.20%.

Insider Buying and Selling

In related news, Director Katharine Weymouth acquired 478 shares of the company’s stock in a transaction on Tuesday, December 9th. The stock was purchased at an average cost of $209.46 per share, with a total value of $100,121.88. Following the acquisition, the director directly owned 5,740 shares of the company’s stock, valued at approximately $1,202,300.40. The trade was a 9.08% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on RSG shares. Raymond James Financial reissued an “outperform” rating and issued a $240.00 target price on shares of Republic Services in a research note on Friday, October 31st. Wells Fargo & Company started coverage on Republic Services in a research report on Thursday, November 13th. They issued an “overweight” rating and a $238.00 price objective for the company. Weiss Ratings restated a “buy (b-)” rating on shares of Republic Services in a report on Monday. Bank of America reduced their price target on shares of Republic Services from $271.00 to $241.00 and set a “buy” rating for the company in a report on Monday, December 22nd. Finally, Oppenheimer set a $256.00 price objective on shares of Republic Services in a report on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, Republic Services has an average rating of “Moderate Buy” and an average target price of $250.64.

Republic Services Company Profile

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.