Strs Ohio Boosts Position in Republic Services, Inc. (NYSE:RSG)

Strs Ohio boosted its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 298.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,760 shares of the business services provider's stock after purchasing an additional 56,745 shares during the quarter. Strs Ohio's holdings in Republic Services were worth $12,493,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. D.A. Davidson & CO. bought a new stake in Republic Services during the 1st quarter valued at approximately $203,000. Synovus Financial Corp raised its stake in Republic Services by 1.9% during the 1st quarter. Synovus Financial Corp now owns 14,255 shares of the business services provider's stock valued at $1,890,000 after purchasing an additional 260 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in Republic Services by 34.6% in the 1st quarter. Vontobel Holding Ltd. now owns 3,885 shares of the business services provider's stock valued at $523,000 after purchasing an additional 998 shares during the period. Blair William & Co. IL grew its position in Republic Services by 1.6% in the 1st quarter. Blair William & Co. IL now owns 31,162 shares of the business services provider's stock worth $4,129,000 after purchasing an additional 495 shares during the last quarter. Finally, Moors & Cabot Inc. increased its holdings in shares of Republic Services by 2.9% during the 1st quarter. Moors & Cabot Inc. now owns 6,726 shares of the business services provider's stock worth $891,000 after purchasing an additional 187 shares during the period. Institutional investors and hedge funds own 57.73% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RSG. Morgan Stanley cut shares of Republic Services from an "overweight" rating to an "equal weight" rating and set a $199.00 target price for the company. in a research note on Friday, March 15th. Jefferies Financial Group lifted their price objective on Republic Services from $213.00 to $225.00 and gave the stock a "buy" rating in a report on Monday, March 18th. Truist Financial upped their target price on Republic Services from $175.00 to $192.00 and gave the company a "hold" rating in a research note on Wednesday, February 28th. Oppenheimer boosted their price target on shares of Republic Services from $182.00 to $195.00 and gave the company an "outperform" rating in a report on Wednesday, February 28th. Finally, Royal Bank of Canada began coverage on shares of Republic Services in a report on Monday, April 8th. They set a "sector perform" rating and a $198.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $199.77.

Insider Buying and Selling at Republic Services

In other Republic Services news, CEO Ark Jon Vander sold 5,446 shares of the company's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the completion of the sale, the chief executive officer now owns 85,113 shares in the company, valued at approximately $15,669,303.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.09% of the company's stock.

Republic Services Price Performance

NYSE:RSG traded down $0.01 during mid-day trading on Thursday, reaching $188.94. 1,586,288 shares of the company were exchanged, compared to its average volume of 1,196,560. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. The company has a fifty day moving average of $185.57 and a 200 day moving average of $168.49. Republic Services, Inc. has a 12 month low of $135.33 and a 12 month high of $192.57. The stock has a market cap of $59.51 billion, a PE ratio of 34.54, a PEG ratio of 3.28 and a beta of 0.68.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The business services provider reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.13. The business had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.73 billion. Republic Services had a return on equity of 17.32% and a net margin of 11.57%. The firm's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.13 earnings per share. On average, research analysts anticipate that Republic Services, Inc. will post 6.01 EPS for the current fiscal year.

Republic Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Tuesday, April 2nd were paid a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date was Monday, April 1st. Republic Services's dividend payout ratio (DPR) is 39.12%.

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.