United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Invests $38.10 Million in Republic Services, Inc. (NYSE:RSG)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in shares of Republic Services, Inc. (NYSE:RSG) during the 4th quarter, HoldingsChannel reports. The fund bought 189,375 shares of the business services provider’s stock, valued at approximately $38,098,000. Republic Services accounts for approximately 1.5% of United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s holdings, making the stock its 24th largest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FSA Wealth Management LLC acquired a new stake in Republic Services in the third quarter valued at about $25,000. Arcadia Investment Management Corp MI boosted its stake in shares of Republic Services by 200.0% during the fourth 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 acquired a new stake in Republic Services during the 4th quarter worth approximately $32,000. Truvestments Capital LLC acquired a new position in Republic Services in the 3rd quarter valued at approximately $34,000. Finally, Generali Asset Management SPA SGR bought a new position in shares of Republic Services during the fourth quarter valued at $45,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Analyst Upgrades and Downgrades

RSG has been the topic of several analyst reports. The Goldman Sachs Group boosted their price objective on shares of Republic Services from $239.00 to $265.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Truist Financial reaffirmed a “buy” rating and issued a $250.00 price objective (up from $244.00) on shares of Republic Services in a research note on Friday, February 14th. Argus set a $260.00 price target on shares of Republic Services in a report on Tuesday, February 18th. Morgan Stanley upped their price objective on shares of Republic Services from $220.00 to $230.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Finally, CIBC raised Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 price objective for the company in a research report on Tuesday, March 4th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.88.

Insider Transactions at Republic Services

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the business’s stock in a transaction 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 transaction, the chief operating officer now owns 10,416 shares of the company’s stock, valued at approximately $2,376,931.20. The trade was a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.09% of the company’s stock.

Republic Services Stock Up 0.8 %

Shares of NYSE RSG opened at $237.91 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64. The company has a 50-day moving average price of $226.10 and a 200-day moving average price of $213.16. The stock has a market capitalization of $74.30 billion, a P/E ratio of 36.66, a P/E/G ratio of 3.64 and a beta of 0.73. Republic Services, Inc. has a 1 year low of $180.92 and a 1 year high of $240.95.

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

Republic Services Dividend Announcement

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