Certior Financial Group LLC Takes Position in Republic Services, Inc. (NYSE:RSG)

Certior Financial Group LLC purchased a new stake in Republic Services, Inc. (NYSE:RSG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,192 shares of the business services provider’s stock, valued at approximately $441,000.

A number of other hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Republic Services during the fourth quarter worth approximately $553,039,000. Raymond James Financial Inc. bought a new stake in shares of Republic Services in the 4th quarter worth about $184,827,000. Nordea Investment Management AB raised its stake 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 valued at $626,553,000 after purchasing an additional 509,116 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in Republic Services by 3.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 6,262,325 shares of the business services provider’s stock worth $1,259,855,000 after purchasing an additional 218,729 shares in the last quarter. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in Republic Services in the fourth quarter valued at about $38,098,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Stock Performance

Shares of RSG opened at $235.29 on Monday. The firm has a market capitalization of $73.48 billion, a PE ratio of 36.25, a P/E/G ratio of 3.64 and a beta of 0.62. 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 50-day moving average price of $230.70 and a 200 day moving average price of $215.25. Republic Services, Inc. has a 52-week low of $180.92 and a 52-week high of $249.73.

Republic Services (NYSE:RSG) last posted its quarterly earnings data 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 net margin of 12.74% and a return on equity of 18.28%. The business had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same period last year, the firm posted $1.41 earnings per share. On average, sell-side analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The company 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 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 0.99%. Republic Services’s dividend payout ratio is currently 35.75%.

Analyst Ratings Changes

Several research analysts have recently commented on RSG shares. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and lifted their target price for the stock from $219.00 to $237.00 in a research report on Tuesday, December 10th. William Blair reiterated an “outperform” rating on shares of Republic Services in a research note on Friday, February 14th. Truist Financial reissued a “buy” rating and set a $250.00 target price (up from $244.00) on shares of Republic Services in a report on Friday, February 14th. The Goldman Sachs Group lifted their price target on shares of Republic Services from $239.00 to $265.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Finally, Stifel Nicolaus increased their price objective on shares of Republic Services from $240.00 to $257.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $236.88.

Insider Buying and Selling

In other news, COO Gregg Brummer sold 6,293 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief operating officer now owns 10,416 shares in the company, valued at approximately $2,376,931.20. This trade represents a 37.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.09% of the stock is owned by corporate insiders.

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.