The Manufacturers Life Insurance Company Trims Stock Position in Republic Services, Inc. (NYSE:RSG)

The Manufacturers Life Insurance Company trimmed its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 1.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 124,455 shares of the business services provider's stock after selling 1,675 shares during the period. The Manufacturers Life Insurance Company's holdings in Republic Services were worth $25,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Arcadia Investment Management Corp MI raised 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 valued at $27,000 after purchasing an additional 88 shares in the last quarter. R Squared Ltd bought a new stake in shares of Republic Services in the fourth quarter valued at about $32,000. New Age Alpha Advisors LLC grew its holdings in Republic Services by 70.2% during the 4th quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider's stock worth $36,000 after acquiring an additional 73 shares in the last quarter. Generali Asset Management SPA SGR purchased a new position in Republic Services during the 4th quarter valued at about $45,000. Finally, Bank of Jackson Hole Trust purchased a new stake in shares of Republic Services in the 4th quarter worth approximately $48,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Price Performance

RSG traded up $0.22 during midday trading on Monday, hitting $250.74. 1,071,303 shares of the company traded hands, compared to its average volume of 1,100,491. The company has a market capitalization of $78.36 billion, a price-to-earnings ratio of 38.63, a PEG ratio of 3.64 and a beta of 0.66. The business has a 50 day simple moving average of $239.00 and a two-hundred day simple moving average of $221.52. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a 52-week low of $180.92 and a 52-week high of $252.40.

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

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Wednesday, July 2nd will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Wednesday, July 2nd. Republic Services's dividend payout ratio (DPR) is 34.99%.

Analyst Ratings Changes

A number of research firms have weighed in on RSG. William Blair restated an "outperform" rating on shares of Republic Services in a report on Friday, April 25th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $266.00 price objective on shares of Republic Services in a research report on Friday, April 25th. Truist Financial boosted their target price on shares of Republic Services from $250.00 to $270.00 and gave the stock a "buy" rating in a report on Tuesday, April 22nd. Citigroup raised their price target on shares of Republic Services from $265.00 to $278.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Finally, Jefferies Financial Group increased their target price on shares of Republic Services from $235.00 to $244.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $249.00.

Insider Buying and Selling at Republic Services

In related news, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the transaction, 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 can be accessed through this link. 0.11% of the stock is owned by insiders.

Republic Services 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.