Price T Rowe Associates Inc. MD Purchases 499,237 Shares of Republic Services, Inc. (NYSE:RSG)

Price T Rowe Associates Inc. MD increased its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 10.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,317,804 shares of the business services provider's stock after purchasing an additional 499,237 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 1.70% of Republic Services worth $1,069,836,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Arcadia Investment Management Corp MI increased its position in Republic Services by 200.0% during the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider's stock worth $27,000 after purchasing an additional 88 shares in the last quarter. R Squared Ltd acquired a new position in Republic Services in the 4th quarter valued at approximately $32,000. New Age Alpha Advisors LLC increased its position in Republic Services by 70.2% in the 4th quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider's stock valued at $36,000 after acquiring an additional 73 shares during the period. Generali Asset Management SPA SGR acquired a new position in Republic Services in the 4th quarter valued at approximately $45,000. Finally, Bank of Jackson Hole Trust acquired a new position in Republic Services in the 4th quarter valued at approximately $48,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on RSG shares. Stifel Nicolaus upped their price target on shares of Republic Services from $240.00 to $257.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. Truist Financial increased their price objective on shares of Republic Services from $250.00 to $270.00 and gave the stock a "buy" rating in a research report on Tuesday, April 22nd. CIBC upgraded shares of Republic Services from a "neutral" rating to a "sector outperform" rating and set a $264.00 price objective for the company in a research report on Tuesday, March 4th. Robert W. Baird increased their price objective on shares of Republic Services from $232.00 to $245.00 and gave the stock a "neutral" rating in a research report on Friday. Finally, UBS Group increased their target price on shares of Republic Services from $240.00 to $250.00 and gave the stock a "neutral" rating in a research note on Friday, April 11th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $247.19.

Republic Services Stock Performance

Republic Services stock traded down $0.16 during trading on Tuesday, hitting $245.96. The stock had a trading volume of 244,259 shares, compared to its average volume of 1,114,239. Republic Services, Inc. has a 1 year low of $180.92 and a 1 year high of $249.73. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. The stock's 50 day moving average is $237.20 and its two-hundred day moving average is $219.97. The stock has a market cap of $76.85 billion, a price-to-earnings ratio of 37.90, a price-to-earnings-growth ratio of 3.64 and a beta of 0.62.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.53 by $0.05. The business had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. Republic Services's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.45 earnings per share. As a group, analysts predict that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 2nd will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $2.32 annualized dividend and a dividend yield of 0.94%. Republic Services's dividend payout ratio is currently 34.99%.

Insider Buying and Selling

In related news, COO Gregg Brummer sold 6,293 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total value of $1,436,062.60. Following the sale, the chief operating officer now owns 10,416 shares in the company, valued at approximately $2,376,931.20. This trade represents a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.11% of the stock is currently 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.