M&T Bank Corp Lowers Stock Holdings in Republic Services, Inc. (NYSE:RSG)

M&T Bank Corp trimmed its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 5.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,900 shares of the business services provider's stock after selling 1,613 shares during the quarter. M&T Bank Corp's holdings in Republic Services were worth $6,514,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. DnB Asset Management AS boosted its stake in Republic Services by 65.1% in the fourth quarter. DnB Asset Management AS now owns 72,931 shares of the business services provider's stock valued at $14,672,000 after acquiring an additional 28,764 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in shares of Republic Services by 3,533.3% during the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock valued at $26,000 after buying an additional 106 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Republic Services by 0.7% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 563,253 shares of the business services provider's stock valued at $136,397,000 after buying an additional 4,110 shares in the last quarter. Uniting Wealth Partners LLC bought a new stake in Republic Services during the 4th quarter worth approximately $266,000. Finally, Sowell Financial Services LLC bought a new stake in Republic Services during the 1st quarter worth approximately $260,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Price Performance

RSG traded up $1.55 during trading hours on Friday, hitting $241.64. The company's stock had a trading volume of 712,757 shares, compared to its average volume of 1,149,354. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.10. Republic Services, Inc. has a 12 month low of $188.82 and a 12 month high of $258.75. The stock has a market cap of $75.51 billion, a price-to-earnings ratio of 36.44, a P/E/G ratio of 3.69 and a beta of 0.61. The business's 50-day moving average price is $248.33 and its 200-day moving average price is $234.34.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings data 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. Republic Services had a net margin of 12.88% and a return on equity of 18.28%. The business 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. The business's revenue was up 3.8% compared to the same quarter last year. Sell-side 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 disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 2nd will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Wednesday, July 2nd. Republic Services's dividend payout ratio (DPR) is 34.99%.

Analyst Ratings Changes

A number of research firms recently weighed in on RSG. National Bank Financial raised shares of Republic Services to a "hold" rating in a report on Monday, May 26th. Citigroup increased their price target on shares of Republic Services from $265.00 to $278.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. William Blair reissued an "outperform" rating on shares of Republic Services in a research report on Friday, April 25th. Truist Financial lifted their price target on shares of Republic Services from $250.00 to $270.00 and gave the company a "buy" rating in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Republic Services from $229.00 to $275.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Ten research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $255.21.

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.