Moore Capital Management LP Invests $6.73 Million in Republic Services, Inc. (NYSE:RSG)

Moore Capital Management LP acquired a new stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 33,441 shares of the business services provider's stock, valued at approximately $6,728,000.

A number of other hedge funds have also made changes to their positions in RSG. Arcadia Investment Management Corp MI increased its stake in shares of Republic Services by 200.0% during the fourth quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider's stock valued at $27,000 after acquiring an additional 88 shares during the period. R Squared Ltd acquired a new position in Republic Services in the fourth quarter worth approximately $32,000. New Age Alpha Advisors LLC grew its position in Republic Services by 70.2% in the fourth quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider's stock worth $36,000 after buying an additional 73 shares during the last quarter. Generali Asset Management SPA SGR acquired a new position in Republic Services in the fourth quarter worth approximately $45,000. Finally, Bank of Jackson Hole Trust acquired a new position in Republic Services in the fourth quarter worth approximately $48,000. Institutional investors and hedge funds own 57.73% of the company's stock.

Insider Transactions at Republic Services

In other news, COO Gregg Brummer sold 6,293 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the transaction, the chief operating officer now owns 10,416 shares in the company, valued at approximately $2,376,931.20. The trade was a 37.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.11% of the company's stock.

Republic Services Stock Down 0.1%

Shares of Republic Services stock traded down $0.19 during midday trading on Wednesday, reaching $237.80. 1,428,067 shares of the company's stock traded hands, compared to its average volume of 1,111,849. The company has a market cap of $74.31 billion, a price-to-earnings ratio of 36.64, a price-to-earnings-growth ratio of 3.64 and a beta of 0.66. The company's 50 day simple moving average is $240.45 and its 200 day simple moving average is $223.32. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. Republic Services, Inc. has a 52 week low of $180.92 and a 52 week high of $253.54.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.53 by $0.05. The business had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. Republic Services's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.45 EPS. Equities analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Wednesday, July 2nd will be issued a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $2.32 annualized dividend and a yield of 0.98%. Republic Services's dividend payout ratio (DPR) is presently 34.99%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Argus set a $260.00 price target on shares of Republic Services in a research report on Tuesday, February 18th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $266.00 price objective on shares of Republic Services in a research note on Friday, April 25th. Truist Financial raised their price objective on shares of Republic Services from $250.00 to $270.00 and gave the stock a "buy" rating in a research note on Tuesday, April 22nd. Jefferies Financial Group raised their price objective on shares of Republic Services from $235.00 to $244.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. Finally, CIBC raised shares of Republic Services from a "neutral" rating to a "sector outperform" rating and set a $264.00 price objective for the company in a research note on Tuesday, March 4th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Republic Services currently has an average rating of "Moderate Buy" and a consensus target price of $249.00.

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.