M&G Investment Management Ltd. decreased its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 7.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 776,687 shares of the business services provider's stock after selling 63,266 shares during the quarter. M&G Investment Management Ltd. owned about 0.25% of Republic Services worth $128,153,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Schechter Investment Advisors LLC grew its holdings in shares of Republic Services by 19.4% in the third quarter. Schechter Investment Advisors LLC now owns 2,791 shares of the business services provider's stock valued at $398,000 after purchasing an additional 453 shares during the period. abrdn plc lifted its position in Republic Services by 64.1% in the fourth quarter. abrdn plc now owns 96,531 shares of the business services provider's stock valued at $15,919,000 after buying an additional 37,690 shares during the last quarter. Axxcess Wealth Management LLC lifted its position in Republic Services by 183.4% in the fourth quarter. Axxcess Wealth Management LLC now owns 8,075 shares of the business services provider's stock valued at $1,332,000 after buying an additional 5,226 shares during the last quarter. First Financial Corp IN lifted its position in Republic Services by 4.7% in the fourth quarter. First Financial Corp IN now owns 2,858 shares of the business services provider's stock valued at $471,000 after buying an additional 128 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in Republic Services by 217.7% in the fourth quarter. SG Americas Securities LLC now owns 76,038 shares of the business services provider's stock valued at $12,539,000 after buying an additional 52,104 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company's stock.
Republic Services Stock Down 0.2 %
Republic Services stock traded down $0.37 during mid-day trading on Wednesday, hitting $186.97. The company had a trading volume of 668,787 shares, compared to its average volume of 1,231,984. The stock has a market cap of $58.88 billion, a price-to-earnings ratio of 32.91, a PEG ratio of 3.03 and a beta of 0.67. Republic Services, Inc. has a 1 year low of $140.07 and a 1 year high of $196.76. 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 business has a fifty day moving average of $188.51 and a 200 day moving average of $174.37.
Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly 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 for the quarter, compared to analyst estimates of $3.89 billion. Republic Services had a net margin of 11.81% and a return on equity of 17.56%. The firm's revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.24 earnings per share. On average, sell-side analysts expect that Republic Services, Inc. will post 6.05 earnings per share for the current fiscal year.
Republic Services Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, July 2nd will be paid a $0.535 dividend. The ex-dividend date is Tuesday, July 2nd. This represents a $2.14 annualized dividend and a yield of 1.14%. Republic Services's dividend payout ratio is currently 37.54%.
Insider Transactions at Republic Services
In other news, CEO Ark Jon Vander sold 5,446 shares of the firm's stock in a transaction that occurred 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 in the company, valued at $15,669,303.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Ark Jon Vander sold 5,446 shares of the firm's stock in a transaction that occurred 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 in the company, valued at $15,669,303.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CMO Amanda Hodges sold 6,500 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $186.02, for a total value 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 disclosure for this sale can be found here. Insiders own 0.09% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have commented on RSG shares. UBS Group upped their target price on shares of Republic Services from $195.00 to $200.00 and gave the company a "neutral" rating in a research report on Wednesday, May 1st. Morgan Stanley cut shares of Republic Services from an "overweight" rating to an "equal weight" rating and set a $199.00 price target on the stock. in a research report on Friday, March 15th. Oppenheimer increased their price target on shares of Republic Services from $202.00 to $204.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 1st. Wells Fargo & Company increased their price target on shares of Republic Services from $180.00 to $188.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 6th. Finally, Scotiabank increased their price target on shares of Republic Services from $211.00 to $213.00 and gave the stock a "sector perform" rating in a research report on Wednesday, May 1st. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Republic Services has an average rating of "Moderate Buy" and an average price target of $201.00.
Check Out Our Latest Stock Analysis on Republic Services
About Republic Services
(
Free Report)
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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