Franklin Resources Inc. Sells 21,362 Shares of Republic Services, Inc. (NYSE:RSG)

Franklin Resources Inc. decreased its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,109,719 shares of the business services provider's stock after selling 21,362 shares during the quarter. Franklin Resources Inc. owned 0.67% of Republic Services worth $347,914,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of RSG. Allworth Financial LP lifted its holdings in Republic Services by 42.4% during the third quarter. Allworth Financial LP now owns 517 shares of the business services provider's stock worth $74,000 after buying an additional 154 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Republic Services by 8.8% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,422 shares of the business services provider's stock worth $630,000 after acquiring an additional 358 shares during the period. Compass Ion Advisors LLC purchased a new stake in shares of Republic Services during the third quarter worth $284,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in Republic Services by 10.0% in the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,982 shares of the business services provider's stock valued at $282,000 after buying an additional 181 shares during the last quarter. Finally, Private Advisor Group LLC increased its holdings in Republic Services by 14.0% in the third quarter. Private Advisor Group LLC now owns 19,389 shares of the business services provider's stock valued at $2,763,000 after buying an additional 2,381 shares during the last quarter. Institutional investors own 57.73% of the company's stock.

Republic Services Trading Up 0.2 %

RSG stock traded up $0.29 during midday trading on Wednesday, hitting $186.77. The stock had a trading volume of 688,678 shares, compared to its average volume of 1,209,569. The firm has a market cap of $58.82 billion, a PE ratio of 32.77, a price-to-earnings-growth ratio of 3.00 and a beta of 0.67. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.53 and a quick ratio of 0.53. Republic Services, Inc. has a 12-month low of $140.07 and a 12-month high of $196.76. The company's 50-day moving average price is $188.80 and its 200 day moving average price is $175.76.

Republic Services (NYSE:RSG - Get Free Report) last released its earnings results 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 analysts' expectations of $3.89 billion. Republic Services had a net margin of 11.81% and a return on equity of 17.56%. Republic Services's revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.24 EPS. On average, equities research analysts predict 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 issued a $0.535 dividend. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.15%. Republic Services's dividend payout ratio (DPR) is presently 37.54%.

Wall Street Analysts Forecast Growth

RSG has been the topic of several recent analyst reports. UBS Group increased their target price on Republic Services from $195.00 to $200.00 and gave the company a "neutral" rating in a report on Wednesday, May 1st. Citigroup upped their price objective on shares of Republic Services from $190.00 to $215.00 and gave the company a "buy" rating in a research note on Thursday, February 29th. Oppenheimer upped their price objective on shares of Republic Services from $202.00 to $204.00 and gave the company an "outperform" rating in a research note on Wednesday, May 1st. Truist Financial upped their price objective on shares of Republic Services from $175.00 to $192.00 and gave the company a "hold" rating in a research note on Wednesday, February 28th. Finally, The Goldman Sachs Group increased their target price on shares of Republic Services from $209.00 to $230.00 and gave the stock a "buy" rating in a research note on Tuesday, April 16th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $201.00.

Insider Buying and Selling at Republic Services

In related news, CEO Ark Jon Vander sold 5,446 shares of Republic Services 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 sale, the chief executive officer now owns 85,113 shares of the company's stock, valued at approximately $15,669,303.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Republic Services news, CEO Ark Jon Vander sold 5,446 shares of the business'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 transaction, the chief executive officer now directly owns 85,113 shares of the company's stock, valued at approximately $15,669,303.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Amanda Hodges sold 6,500 shares of the company's stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the completion of 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. 0.09% of the stock is owned by company insiders.

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.