Mitsubishi UFJ Asset Management Co. Ltd. Has $67.44 Million Position in Republic Services, Inc. (NYSE:RSG)

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 7.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 335,439 shares of the business services provider’s stock after purchasing an additional 22,760 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.11% of Republic Services worth $67,437,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Republic Services by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 18,590,728 shares of the business services provider’s stock worth $3,740,083,000 after acquiring an additional 144,719 shares in the last quarter. Wellington Management Group LLP increased its holdings 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. Geode Capital Management LLC raised its stake in shares of Republic Services by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,507,521 shares of the business services provider’s stock valued at $903,316,000 after purchasing an additional 73,207 shares during the period. Nordea Investment Management AB boosted its position in shares of Republic Services by 19.4% during 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, Allspring Global Investments Holdings LLC grew its holdings in shares of Republic Services by 1.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,546,088 shares of the business services provider’s stock worth $509,462,000 after buying an additional 25,350 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Gregg Brummer sold 6,293 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following 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 trade represents a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Republic Services Trading Down 0.6 %

Shares of Republic Services stock opened at $238.37 on Friday. Republic Services, Inc. has a 1 year low of $180.92 and a 1 year high of $241.09. The company has a market capitalization of $74.44 billion, a price-to-earnings ratio of 36.73, a P/E/G ratio of 3.64 and a beta of 0.73. The business has a fifty day simple moving average of $227.72 and a two-hundred day simple moving average of $213.75. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64.

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

Republic Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be issued a dividend of $0.58 per share. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $2.32 annualized dividend and a yield of 0.97%. Republic Services’s payout ratio is currently 35.75%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on RSG shares. Royal Bank of Canada raised Republic Services from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $219.00 to $237.00 in a research report on Monday, January 6th. CIBC raised shares of Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 target price for the company in a research report on Tuesday, March 4th. The Goldman Sachs Group boosted their price target on shares of Republic Services from $239.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Truist Financial restated a “buy” rating and issued a $250.00 price objective (up previously from $244.00) on shares of Republic Services in a report on Friday, February 14th. Finally, Stifel Nicolaus upped their target price on Republic Services from $240.00 to $257.00 and gave the stock a “buy” rating 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 issued a strong buy rating to the stock. According to data from MarketBeat, Republic Services presently has a consensus rating of “Moderate Buy” and a consensus 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.