Unisphere Establishment Takes Position in Republic Services, Inc. (NYSE:RSG)

Unisphere Establishment acquired a new position in Republic Services, Inc. (NYSE:RSG - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 31,000 shares of the business services provider's stock, valued at approximately $6,237,000.

Several other large investors have also modified their holdings of RSG. Norges Bank purchased a new stake in Republic Services during the fourth quarter worth $553,039,000. Raymond James Financial Inc. bought a new stake in Republic Services during the fourth quarter valued at about $184,827,000. Nordea Investment Management AB grew its stake in Republic Services by 19.4% in the fourth quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider's stock valued at $626,553,000 after purchasing an additional 509,116 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Republic Services by 10.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,317,804 shares of the business services provider's stock worth $1,069,836,000 after purchasing an additional 499,237 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Republic Services by 13.1% during the fourth quarter. Northern Trust Corp now owns 2,426,215 shares of the business services provider's stock valued at $488,106,000 after buying an additional 280,542 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company's stock.

Republic Services Stock Performance

RSG traded up $1.01 during midday trading on Friday, hitting $250.42. 894,106 shares of the company were exchanged, compared to its average volume of 1,100,608. The company's 50 day simple moving average is $238.62 and its 200 day simple moving average is $221.09. The firm has a market capitalization of $78.26 billion, a price-to-earnings ratio of 38.59, a price-to-earnings-growth ratio of 3.64 and a beta of 0.62. Republic Services, Inc. has a 1-year low of $180.92 and a 1-year high of $252.40. 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 (NYSE:RSG - Get Free Report) last posted its earnings results on Thursday, April 24th. The business services provider reported $1.58 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 firm had revenue of $4.01 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period last year, the company earned $1.45 earnings per share. Republic Services's revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, sell-side analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors 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 yield of 0.93%. Republic Services's dividend payout ratio is presently 34.99%.

Wall Street Analyst Weigh In

Several research firms recently commented on RSG. BMO Capital Markets boosted their price objective on shares of Republic Services from $260.00 to $268.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Raymond James reiterated an "outperform" rating on shares of Republic Services in a report on Wednesday, April 16th. CIBC upgraded Republic Services from a "neutral" rating to a "sector outperform" rating and set a $264.00 target price on the stock in a research note on Tuesday, March 4th. Jefferies Financial Group increased their price target on Republic Services from $235.00 to $244.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Finally, Truist Financial boosted their price target on Republic Services from $250.00 to $270.00 and gave the stock a "buy" rating in a research note on Tuesday, April 22nd. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Republic Services currently has a consensus rating of "Moderate Buy" and an average price target 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 on Wednesday, February 19th. The shares were 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 of the company's stock, valued at approximately $2,376,931.20. This trade represents a 37.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is owned by corporate 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.