Eastern Bank Purchases New Holdings in Republic Services, Inc. (NYSE:RSG)

Eastern Bank acquired a new position in Republic Services, Inc. (NYSE:RSG) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 3,350 shares of the business services provider’s stock, valued at approximately $673,000.

Several other large investors have also recently made changes to their positions in RSG. Wolff Wiese Magana LLC boosted its holdings in shares of Republic Services by 351.6% in the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock worth $28,000 after buying an additional 109 shares during the last quarter. EntryPoint Capital LLC bought a new position in shares of Republic Services during the 1st quarter valued at approximately $29,000. Webster Bank N. A. purchased a new stake in shares of Republic Services during the 3rd quarter worth approximately $31,000. Itau Unibanco Holding S.A. purchased a new position in Republic Services in the second quarter valued at approximately $36,000. Finally, Indiana Trust & Investment Management CO bought a new position in Republic Services during the second quarter valued at $45,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Price Performance

RSG stock opened at $203.98 on Thursday. The firm has a 50 day simple moving average of $204.11 and a two-hundred day simple moving average of $196.23. The stock has a market cap of $64.24 billion, a PE ratio of 35.79, a P/E/G ratio of 3.29 and a beta of 0.69. Republic Services, Inc. has a one year low of $142.65 and a one year high of $208.69. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.59 and a quick ratio of 0.59.

Republic Services (NYSE:RSG) last released its earnings results on Wednesday, July 24th. The business services provider reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.08. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. The business had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.03 billion. On average, analysts predict that Republic Services, Inc. will post 6.18 EPS for the current fiscal year.

Insider Transactions at Republic Services

In related news, Director Tomago Collins sold 3,200 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $203.01, for a total value of $649,632.00. Following the completion of the sale, the director now owns 17,486 shares in the company, valued at $3,549,832.86. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on RSG. StockNews.com cut Republic Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. CIBC increased their target price on shares of Republic Services from $196.00 to $208.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. William Blair initiated coverage on shares of Republic Services in a research note on Thursday, October 3rd. They set an “outperform” rating on the stock. Truist Financial upgraded shares of Republic Services from a “hold” rating to a “buy” rating and lifted their price objective for the company from $192.00 to $220.00 in a research note on Thursday, July 11th. Finally, Raymond James dropped their target price on Republic Services from $219.00 to $214.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $212.18.

About Republic Services

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.