Man Group plc Has $4.70 Million Position in Republic Services, Inc. (NYSE:RSG)

Man Group plc cut its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 69.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,374 shares of the business services provider's stock after selling 53,480 shares during the quarter. Man Group plc's holdings in Republic Services were worth $4,702,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Republic Services by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 18,590,728 shares of the business services provider's stock worth $3,740,083,000 after buying an additional 144,719 shares during the period. Pictet Asset Management Holding SA lifted its holdings in Republic Services by 3.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 6,262,325 shares of the business services provider's stock worth $1,259,855,000 after buying an additional 218,729 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Republic Services by 10.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,317,804 shares of the business services provider's stock worth $1,069,836,000 after buying an additional 499,237 shares during the period. Geode Capital Management LLC lifted its holdings in Republic Services by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 4,565,137 shares of the business services provider's stock worth $918,045,000 after buying an additional 57,616 shares during the period. Finally, Norges Bank acquired a new position in Republic Services during the 4th quarter worth about $553,039,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Jefferies Financial Group lifted their price objective on Republic Services from $235.00 to $244.00 and gave the stock a "buy" rating in a research report on Thursday, January 23rd. Truist Financial lifted their price objective on Republic Services from $250.00 to $270.00 and gave the stock a "buy" rating in a research report on Tuesday, April 22nd. The Goldman Sachs Group lifted their price objective on Republic Services from $239.00 to $265.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Scotiabank lifted their price objective on Republic Services from $233.00 to $250.00 and gave the stock a "sector perform" rating in a research report on Tuesday, April 8th. Finally, Argus set a $260.00 price objective on Republic Services in a research report on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $249.00.

Republic Services Stock Performance

Shares of Republic Services stock opened at $252.21 on Thursday. Republic Services, Inc. has a one year low of $180.92 and a one year high of $253.54. The firm has a market capitalization of $78.82 billion, a price-to-earnings ratio of 38.86, a PEG ratio of 3.64 and a beta of 0.66. The business has a 50-day simple moving average of $242.25 and a 200 day simple moving average of $225.03. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64.

Republic Services (NYSE:RSG - Get Free Report) last issued its earnings results on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.53 by $0.05. The business had revenue of $4.01 billion during the quarter, compared to analyst estimates of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The firm's revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.45 EPS. On average, research analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 0.92%. Republic Services's dividend payout ratio (DPR) is currently 34.99%.

Republic Services 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.