Allspring Global Investments Holdings LLC Lowers Stake in Republic Services, Inc. (NYSE:RSG)

Allspring Global Investments Holdings LLC lessened its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 20.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,035,998 shares of the business services provider's stock after selling 510,090 shares during the period. Republic Services comprises approximately 0.9% of Allspring Global Investments Holdings LLC's holdings, making the stock its 10th biggest position. Allspring Global Investments Holdings LLC owned approximately 0.65% of Republic Services worth $496,213,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Republic Services by 18.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,955 shares of the business services provider's stock worth $4,999,000 after purchasing an additional 3,273 shares during the period. Money Concepts Capital Corp increased its holdings in Republic Services by 48.6% in the 1st quarter. Money Concepts Capital Corp now owns 5,088 shares of the business services provider's stock worth $1,232,000 after acquiring an additional 1,664 shares in the last quarter. Achmea Investment Management B.V. increased its holdings in Republic Services by 19.2% in the 1st quarter. Achmea Investment Management B.V. now owns 130,196 shares of the business services provider's stock worth $31,528,000 after acquiring an additional 20,965 shares in the last quarter. Diversified Trust Co increased its holdings in Republic Services by 10.1% in the 1st quarter. Diversified Trust Co now owns 1,692 shares of the business services provider's stock worth $410,000 after acquiring an additional 155 shares in the last quarter. Finally, Board of the Pension Protection Fund increased its holdings in Republic Services by 31.7% in the 1st quarter. Board of the Pension Protection Fund now owns 5,400 shares of the business services provider's stock worth $1,308,000 after acquiring an additional 1,300 shares in the last quarter. Institutional investors own 57.73% of the company's stock.

Republic Services Trading Down 0.2%

Shares of RSG opened at $244.27 on Friday. The company's fifty day moving average is $248.90 and its 200 day moving average is $232.16. Republic Services, Inc. has a fifty-two week low of $188.82 and a fifty-two week high of $258.75. The stock has a market capitalization of $76.34 billion, a PE ratio of 36.84, a P/E/G ratio of 3.75 and a beta of 0.63. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.66 and a current ratio of 0.66.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.05. Republic Services had a net margin of 12.88% and a return on equity of 18.28%. The company had revenue of $4.01 billion for the quarter, compared to analysts' expectations of $4.08 billion. During the same quarter in the previous year, the business posted $1.45 earnings per share. Republic Services's quarterly revenue was up 3.8% on a year-over-year basis. Sell-side analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 2nd will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 0.95%. The ex-dividend date is Wednesday, July 2nd. Republic Services's payout ratio is 34.99%.

Wall Street Analysts Forecast Growth

RSG has been the subject of several analyst reports. Scotiabank increased their target price on shares of Republic Services from $233.00 to $250.00 and gave the stock a "sector perform" rating in a report on Tuesday, April 8th. CIBC raised shares of Republic Services from a "neutral" rating to a "sector outperform" rating and set a $264.00 target price for the company in a report on Tuesday, March 4th. National Bank Financial raised shares of Republic Services to a "hold" rating in a report on Monday, May 26th. Robert W. Baird increased their target price on shares of Republic Services from $232.00 to $245.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. Finally, Truist Financial increased their target price on shares of Republic Services from $250.00 to $270.00 and gave the stock a "buy" rating in a report on Tuesday, April 22nd. Ten research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Republic Services presently has an average rating of "Moderate Buy" and an average target price of $252.68.

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.

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