Fifth Third Bancorp Sells 4,468 Shares of Republic Services, Inc. (NYSE:RSG)

Fifth Third Bancorp lowered its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 9.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 41,460 shares of the business services provider's stock after selling 4,468 shares during the period. Fifth Third Bancorp's holdings in Republic Services were worth $7,937,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Capital World Investors boosted its holdings in shares of Republic Services by 416.9% during the fourth quarter. Capital World Investors now owns 6,562,420 shares of the business services provider's stock worth $1,082,209,000 after acquiring an additional 5,292,862 shares during the period. Norges Bank bought a new stake in shares of Republic Services during the fourth quarter worth approximately $358,837,000. Magellan Asset Management Ltd raised its position in shares of Republic Services by 1,497,159.0% in the third 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. FMR LLC raised its position in shares of Republic Services by 34.4% in the third quarter. FMR LLC now owns 2,202,405 shares of the business services provider's stock valued at $313,865,000 after buying an additional 563,761 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Republic Services in the fourth quarter valued at approximately $77,417,000. Institutional investors own 57.73% of the company's stock.

Republic Services Stock Down 0.5 %

Shares of Republic Services stock traded down $0.93 during trading hours on Friday, reaching $185.51. The company's stock had a trading volume of 1,219,295 shares, compared to its average volume of 1,470,838. The company has a market capitalization of $58.42 billion, a P/E ratio of 32.55, a P/E/G ratio of 3.25 and a beta of 0.67. The stock's fifty day simple moving average is $188.02 and its two-hundred day simple moving average is $171.94. Republic Services, Inc. has a one year low of $140.07 and a one year high of $196.76. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.56 and a current ratio of 0.53.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The business services provider reported $1.45 EPS for the quarter, topping the consensus estimate of $1.35 by $0.10. The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.89 billion. Republic Services had a return on equity of 17.56% and a net margin of 11.81%. The company's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.24 earnings per share. On average, research analysts forecast that Republic Services, Inc. will post 6.02 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Tuesday, July 2nd will be given a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Tuesday, July 2nd. Republic Services's payout ratio is 37.54%.

Analyst Ratings Changes

A number of research firms have recently weighed in on RSG. Truist Financial lifted their price target on shares of Republic Services from $175.00 to $192.00 and gave the company a "hold" rating in a research report on Wednesday, February 28th. Scotiabank upped their target price on Republic Services from $211.00 to $213.00 and gave the stock a "sector perform" rating in a research note on Wednesday. Citigroup upped their target price on Republic Services from $190.00 to $215.00 and gave the stock a "buy" rating in a research note on Thursday, February 29th. BMO Capital Markets upped their target price on Republic Services from $173.00 to $195.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 28th. Finally, Morgan Stanley cut 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. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $201.00.

Insiders Place Their Bets

In related news, CEO Ark Jon Vander sold 5,446 shares of the firm's stock in a transaction dated 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 $15,669,303.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.09% of the company's stock.

About Republic Services

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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