Sawgrass Asset Management LLC Boosts Stock Position in Republic Services, Inc. (NYSE:RSG)

Sawgrass Asset Management LLC lifted its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 58.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 57,663 shares of the business services provider's stock after buying an additional 21,231 shares during the quarter. Sawgrass Asset Management LLC's holdings in Republic Services were worth $9,509,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of RSG. Commonwealth Equity Services LLC raised its stake in shares of Republic Services by 4.9% during the third quarter. Commonwealth Equity Services LLC now owns 32,257 shares of the business services provider's stock worth $4,597,000 after purchasing an additional 1,508 shares during the last quarter. Lindbrook Capital LLC increased its holdings in shares of Republic Services by 15.7% during the 3rd quarter. Lindbrook Capital LLC now owns 1,771 shares of the business services provider's stock worth $252,000 after buying an additional 240 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Republic Services by 0.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 90,669 shares of the business services provider's stock worth $12,921,000 after buying an additional 284 shares during the period. Mackenzie Financial Corp boosted its stake in shares of Republic Services by 0.9% in the third quarter. Mackenzie Financial Corp now owns 266,630 shares of the business services provider's stock valued at $37,995,000 after purchasing an additional 2,500 shares during the period. Finally, IFM Investors Pty Ltd boosted its stake in shares of Republic Services by 4.3% in the third quarter. IFM Investors Pty Ltd now owns 52,598 shares of the business services provider's stock valued at $7,496,000 after purchasing an additional 2,183 shares during the period. Hedge funds and other institutional investors own 57.73% of the company's stock.

Republic Services Trading Down 0.6 %

Republic Services stock traded down $1.22 during trading hours on Wednesday, hitting $187.34. The stock had a trading volume of 1,489,069 shares, compared to its average volume of 1,256,565. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.05. The stock has a market cap of $59.00 billion, a price-to-earnings ratio of 32.87, a P/E/G ratio of 3.22 and a beta of 0.67. Republic Services, Inc. has a one year low of $140.07 and a one year high of $196.76. The business's 50 day simple moving average is $188.14 and its 200-day simple moving average is $172.87.

Republic Services (NYSE:RSG - Get Free Report) last issued its earnings results on Tuesday, April 30th. The business services provider reported $1.45 EPS for the quarter, beating the consensus estimate of $1.35 by $0.10. The company 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 firm's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the business posted $1.24 EPS. On average, equities analysts predict that Republic Services, Inc. will post 6.05 EPS for the current fiscal year.

Republic Services Dividend Announcement

The business 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. The ex-dividend date is Tuesday, July 2nd. This represents a $2.14 annualized dividend and a yield of 1.14%. Republic Services's payout ratio is currently 37.54%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on RSG shares. Oppenheimer increased their target price on shares of Republic Services from $202.00 to $204.00 and gave the stock an "outperform" rating in a report on Wednesday, May 1st. The Goldman Sachs Group increased their price target on shares of Republic Services from $209.00 to $230.00 and gave the stock a "buy" rating in a research report on Tuesday, April 16th. Scotiabank raised their price objective on shares of Republic Services from $211.00 to $213.00 and gave the company a "sector perform" rating in a research report on Wednesday, May 1st. 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. Finally, Royal Bank of Canada initiated coverage on shares of Republic Services in a research note on Monday, April 8th. They issued a "sector perform" rating and a $198.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $201.00.

Insider Activity at Republic Services

In other Republic Services news, CMO Amanda Hodges sold 6,500 shares of the company's stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the sale, the chief marketing officer now directly owns 6,831 shares of the company's stock, valued at $1,270,702.62. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Republic Services news, CEO Ark Jon Vander sold 5,446 shares of the business'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 transaction, the chief executive officer now directly owns 85,113 shares of the company's stock, valued at approximately $15,669,303.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CMO Amanda Hodges sold 6,500 shares of the business's stock in a transaction on Monday, May 6th. The shares were sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the sale, the chief marketing officer now owns 6,831 shares in the company, valued at approximately $1,270,702.62. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

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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