Republic Services, Inc. (NYSE:RSG) Stock Holdings Lowered by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 6.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 239,894 shares of the business services provider’s stock after selling 16,111 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Republic Services were worth $48,262,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in RSG. Stifel Financial Corp raised its position in shares of Republic Services by 437.9% during the third quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock worth $364,449,000 after purchasing an additional 1,477,255 shares during the period. Wellington Management Group LLP grew its position in Republic Services by 23.2% during 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 purchasing an additional 1,131,850 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Republic Services during the 4th quarter valued at $184,827,000. Nordea Investment Management AB boosted its position in shares of 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 worth $626,553,000 after buying an additional 509,116 shares during the period. Finally, National Bank of Canada FI grew its holdings in shares of Republic Services by 544.7% during the third quarter. National Bank of Canada FI now owns 545,613 shares of the business services provider’s stock valued at $109,580,000 after buying an additional 460,989 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Stock Up 0.8 %

RSG stock opened at $237.91 on Wednesday. Republic Services, Inc. has a twelve month low of $180.92 and a twelve month high of $240.95. 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 company has a market cap of $74.30 billion, a PE ratio of 36.66, a price-to-earnings-growth ratio of 3.64 and a beta of 0.73. The business’s 50-day simple moving average is $226.10 and its 200 day simple moving average is $213.16.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.21. The business had revenue of $4.05 billion for the quarter, compared to analysts’ expectations 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 business posted $1.41 earnings per share. On average, research analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be paid a $0.58 dividend. The ex-dividend date is Wednesday, April 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 0.98%. Republic Services’s payout ratio is currently 35.75%.

Insider Buying and Selling

In other news, COO Gregg Brummer sold 6,293 shares of the stock in a transaction that occurred 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 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RSG shares. Truist Financial reissued a “buy” rating and set a $250.00 target price (up previously from $244.00) on shares of Republic Services in a research note on Friday, February 14th. UBS Group boosted their target price on Republic Services from $212.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Royal Bank of Canada upgraded shares of Republic Services from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $219.00 to $237.00 in a research note on Monday, January 6th. William Blair reiterated an “outperform” rating on shares of Republic Services in a report on Friday, February 14th. Finally, Argus set a $260.00 target price on Republic Services in a report on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Republic Services presently has an average rating of “Moderate Buy” and an average price target of $236.88.

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.