Republic Services, Inc. (NYSE:RSG) Stock Position Reduced by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 0.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,709,728 shares of the business services provider's stock after selling 17,991 shares during the quarter. Republic Services comprises approximately 1.0% of Allspring Global Investments Holdings LLC's holdings, making the stock its 5th largest holding. Allspring Global Investments Holdings LLC owned 1.18% of Republic Services worth $611,771,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Republic Services during the 4th quarter valued at about $258,032,000. JPMorgan Chase & Co. raised its position in shares of Republic Services by 40.8% during the 1st quarter. JPMorgan Chase & Co. now owns 6,180,535 shares of the business services provider's stock valued at $835,731,000 after buying an additional 1,791,149 shares in the last quarter. Magellan Asset Management Ltd raised its position in shares of Republic Services by 1,497,159.0% during the 3rd quarter. Magellan Asset Management Ltd now owns 913,328 shares of the business services provider's stock valued at $130,158,000 after buying an additional 913,267 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Republic Services by 59.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,317,702 shares of the business services provider's stock worth $355,002,000 after purchasing an additional 862,917 shares during the period. Finally, FMR LLC raised its position in Republic Services by 34.4% in the 3rd quarter. FMR LLC now owns 2,202,405 shares of the business services provider's stock worth $313,865,000 after purchasing an additional 563,761 shares during the period. Hedge funds and other institutional investors own 57.73% of the company's stock.

Republic Services Stock Up 0.1 %

RSG traded up $0.12 during trading on Monday, hitting $188.52. The stock had a trading volume of 1,221,942 shares, compared to its average volume of 1,185,070. The company has a market capitalization of $59.31 billion, a PE ratio of 34.48, a PEG ratio of 3.30 and a beta of 0.68. Republic Services, Inc. has a twelve month low of $133.81 and a twelve month high of $192.57. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a 50 day simple moving average of $182.82 and a two-hundred day simple moving average of $166.08.

Republic Services (NYSE:RSG - Get Free Report) last announced its earnings results on Tuesday, February 27th. The business services provider reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.13. The company had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.73 billion. Republic Services had a net margin of 11.57% and a return on equity of 17.32%. Republic Services's revenue was up 8.6% compared to the same quarter last year. During the same period last year, the firm earned $1.13 earnings per share. On average, research analysts predict that Republic Services, Inc. will post 6 earnings per share for the current year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Tuesday, April 2nd will be paid a $0.535 dividend. The ex-dividend date is Monday, April 1st. This represents a $2.14 annualized dividend and a yield of 1.14%. Republic Services's dividend payout ratio (DPR) is 39.12%.

Insiders Place Their Bets

In other Republic Services news, CEO Ark Jon Vander sold 5,446 shares of the firm's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $184.10, for a total value of $1,002,608.60. Following the completion of the transaction, the chief executive officer now owns 85,113 shares of the company's stock, valued at $15,669,303.30. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.09% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Scotiabank assumed coverage on shares of Republic Services in a research report on Monday. They issued a "sector perform" rating and a $211.00 price objective on the stock. Jefferies Financial Group increased their price objective on shares of Republic Services from $213.00 to $225.00 and gave the stock a "buy" rating in a research report on Monday, March 18th. Morgan Stanley lowered shares of Republic Services from an "overweight" rating to an "equal weight" rating and set a $199.00 price objective on the stock. in a research report on Friday, March 15th. Truist Financial upped their target price on shares of Republic Services from $175.00 to $192.00 and gave the stock a "hold" rating in a research note on Wednesday, February 28th. Finally, Stifel Nicolaus upped their target price on shares of Republic Services from $175.00 to $187.00 and gave the stock a "buy" rating in a research note on Tuesday, December 19th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $198.15.

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.

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