Commonwealth of Pennsylvania Public School Empls Retrmt SYS Trims Position in Republic Services, Inc. (NYSE:RSG)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 2.6% during the fourth quarter, HoldingsChannel reports. The firm owned 43,281 shares of the business services provider’s stock after selling 1,159 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Republic Services were worth $8,707,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in RSG. Stifel Financial Corp raised its position in shares of Republic Services by 437.9% in the 3rd quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock worth $364,449,000 after buying an additional 1,477,255 shares during the period. Wellington Management Group LLP raised its position in shares of Republic Services by 23.2% in the 3rd quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider’s stock worth $1,205,883,000 after buying an additional 1,131,850 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Republic Services in the 4th quarter worth $184,827,000. Nordea Investment Management AB raised its position in shares of Republic Services by 19.4% in the 4th quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock worth $626,553,000 after buying an additional 509,116 shares during the period. Finally, National Bank of Canada FI raised its position in shares of Republic Services by 544.7% in the 3rd quarter. National Bank of Canada FI now owns 545,613 shares of the business services provider’s stock worth $109,580,000 after buying an additional 460,989 shares during the period. 57.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Truist Financial reaffirmed a “buy” rating and issued a $250.00 target price (up from $244.00) on shares of Republic Services in a research report on Friday, February 14th. BMO Capital Markets raised Republic Services from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $211.00 to $238.00 in a research report on Friday, December 6th. The Goldman Sachs Group raised their price objective on Republic Services from $239.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. CIBC raised Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 price objective on the stock in a research report on Tuesday, March 4th. Finally, Stifel Nicolaus raised their price objective on Republic Services from $240.00 to $257.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $236.88.

Insider Activity

In other news, COO Gregg Brummer sold 6,293 shares of the company’s 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 completion of the transaction, the chief operating officer now directly owns 10,416 shares of the company’s stock, valued at approximately $2,376,931.20. This represents a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Republic Services Stock Down 0.8 %

Shares of Republic Services stock opened at $232.95 on Friday. 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 firm has a market cap of $72.75 billion, a P/E ratio of 35.89, a P/E/G ratio of 3.64 and a beta of 0.73. Republic Services, Inc. has a fifty-two week low of $180.92 and a fifty-two week high of $240.95. The business has a 50-day moving average price of $224.90 and a 200 day moving average price of $212.62.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.21. The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. During the same period in the previous year, the company earned $1.41 earnings per share. On average, sell-side analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services’s dividend payout ratio (DPR) is presently 35.75%.

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.