DNB Asset Management AS boosted its holdings in shares of Republic Services, Inc. (NYSE:RSG – Free Report) by 4.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 44,576 shares of the business services provider’s stock after buying an additional 1,830 shares during the quarter. DNB Asset Management AS’s holdings in Republic Services were worth $7,351,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of RSG. Norges Bank acquired a new stake in Republic Services during the 4th quarter worth $258,032,000. JPMorgan Chase & Co. grew its holdings in shares of Republic Services by 40.8% in the 1st quarter. JPMorgan Chase & Co. now owns 6,180,535 shares of the business services provider’s stock valued at $835,731,000 after buying an additional 1,791,149 shares during the period. Magellan Asset Management Ltd grew its holdings in shares of Republic Services by 1,497,159.0% in the 3rd quarter. Magellan Asset Management Ltd now owns 913,328 shares of the business services provider’s stock valued at $130,158,000 after buying an additional 913,267 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Republic Services by 59.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,317,702 shares of the business services provider’s stock valued at $355,002,000 after buying an additional 862,917 shares during the period. Finally, FMR LLC grew its holdings in shares of Republic Services by 34.4% in the 3rd quarter. FMR LLC now owns 2,202,405 shares of the business services provider’s stock valued at $313,865,000 after buying an additional 563,761 shares during the period. Institutional investors and hedge funds own 57.23% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on RSG. Oppenheimer boosted their price target on shares of Republic Services from $182.00 to $195.00 and gave the company an “outperform” rating in a report on Wednesday, February 28th. Stifel Nicolaus upped their target price on shares of Republic Services from $175.00 to $187.00 and gave the stock a “buy” rating in a research note on Tuesday, December 19th. Truist Financial upped their target price on shares of Republic Services from $175.00 to $192.00 and gave the stock a “hold” rating in a research note on Wednesday, February 28th. UBS Group lowered shares of Republic Services from a “buy” rating to a “neutral” rating and upped their target price for the stock from $175.00 to $195.00 in a research note on Thursday, February 29th. Finally, Royal Bank of Canada upped their target price on shares of Republic Services from $166.00 to $199.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 28th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $190.92.
Republic Services Stock Down 0.0 %
Shares of RSG stock opened at $186.31 on Friday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. The firm’s 50-day moving average is $176.15 and its 200-day moving average is $161.54. The stock has a market cap of $58.61 billion, a price-to-earnings ratio of 34.06, a PEG ratio of 3.25 and a beta of 0.67. Republic Services, Inc. has a 52-week low of $127.69 and a 52-week high of $192.57.
Republic Services (NYSE:RSG – Get Free Report) last issued its earnings results on Tuesday, February 27th. The business services provider reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.13. The company had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.73 billion. Republic Services had a net margin of 11.57% and a return on equity of 17.32%. Republic Services’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.13 EPS. Sell-side analysts predict that Republic Services, Inc. will post 6 EPS for the current year.
Republic Services Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Tuesday, April 2nd will be issued a $0.535 dividend. The ex-dividend date of this dividend is Monday, April 1st. This represents a $2.14 annualized dividend and a yield of 1.15%. Republic Services’s dividend payout ratio is currently 39.12%.
Insider Buying and Selling at Republic Services
In other Republic Services news, CEO Ark Jon Vander sold 5,446 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $184.10, for a total value of $1,002,608.60. Following 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 legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.09% of the company’s stock.
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.
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