Trexquant Investment LP Buys Shares of 11,118 Republic Services, Inc. (NYSE:RSG)

Posted by Defense World Staff on Mar 13th, 2023

Trexquant Investment LP purchased a new position in shares of Republic Services, Inc. (NYSE:RSG – Get Rating) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,118 shares of the business services provider’s stock, valued at approximately $1,512,000.

A number of other large investors also recently made changes to their positions in the business. Asset Dedication LLC purchased a new position in Republic Services in the third quarter valued at about $25,000. Massmutual Trust Co. FSB ADV lifted its holdings in Republic Services by 94.3% in the third quarter. Massmutual Trust Co. FSB ADV now owns 206 shares of the business services provider’s stock worth $28,000 after acquiring an additional 100 shares during the last quarter. Guardian Wealth Advisors LLC bought a new stake in shares of Republic Services during the third quarter valued at approximately $31,000. Washington Trust Advisors Inc. bought a new stake in shares of Republic Services during the third quarter valued at approximately $35,000. Finally, TCI Wealth Advisors Inc. raised its holdings in shares of Republic Services by 44.5% during the third quarter. TCI Wealth Advisors Inc. now owns 357 shares of the business services provider’s stock valued at $49,000 after buying an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 57.14% of the company’s stock.

Insider Transactions at Republic Services

In other Republic Services news, Director Jennifer M. Kirk acquired 1,000 shares of the company’s stock in a transaction on Tuesday, February 21st. The stock was acquired at an average price of $129.60 per share, for a total transaction of $129,600.00. Following the purchase, the director now directly owns 4,449 shares of the company’s stock, valued at $576,590.40. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Republic Services Trading Down 1.0 %

Shares of NYSE RSG opened at $127.05 on Monday. The company’s 50 day simple moving average is $126.45 and its 200 day simple moving average is $132.91. Republic Services, Inc. has a fifty-two week low of $119.72 and a fifty-two week high of $149.17. The firm has a market capitalization of $40.15 billion, a P/E ratio of 27.09, a P/E/G ratio of 2.69 and a beta of 0.65. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.70 and a quick ratio of 0.70.

Republic Services (NYSE:RSG – Get Rating) last issued its quarterly earnings data on Wednesday, February 15th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.11. The company had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.46 billion. Republic Services had a net margin of 11.01% and a return on equity of 16.72%. The firm’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.02 earnings per share. On average, analysts predict that Republic Services, Inc. will post 5.18 EPS for the current year.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Monday, April 3rd will be paid a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Friday, March 31st. Republic Services’s dividend payout ratio is presently 42.22%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. StockNews.com lowered shares of Republic Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 8th. BMO Capital Markets lowered their price objective on shares of Republic Services from $148.00 to $138.00 and set a “market perform” rating on the stock in a research report on Thursday, February 16th. Royal Bank of Canada lifted their price objective on shares of Republic Services from $131.00 to $134.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 16th. Morgan Stanley lowered their price target on shares of Republic Services from $150.00 to $144.00 and set an “overweight” rating on the stock in a report on Wednesday, January 4th. Finally, UBS Group cut shares of Republic Services from a “buy” rating to a “neutral” rating in a report on Tuesday, January 10th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Republic Services currently has a consensus rating of “Moderate Buy” and an average target price of $145.33.

Republic Services Company Profile

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Republic Services, Inc engages in the provision of services in the domestic non-hazardous solid waste industry. It provides integrated waste management services, which offers non-hazardous solid waste collection, transfer, recycling, disposal and energy services. The firm operates through the following segments: Group 1, Group 2, and Corporate Entities & Other.