Mizuho Securities USA LLC Acquires 6,054 Shares of Republic Services, Inc. (NYSE:RSG)

Mizuho Securities USA LLC increased its position in Republic Services, Inc. (NYSE:RSG) by 45.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,292 shares of the business services provider’s stock after buying an additional 6,054 shares during the quarter. Mizuho Securities USA LLC’s holdings in Republic Services were worth $3,881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. FSA Wealth Management LLC bought a new stake in Republic Services in the 3rd quarter worth approximately $25,000. Arcadia Investment Management Corp MI lifted its position in Republic Services by 200.0% in the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock worth $27,000 after buying an additional 88 shares during the last quarter. R Squared Ltd bought a new stake in Republic Services in the 4th quarter worth approximately $32,000. Truvestments Capital LLC bought a new stake in Republic Services in the 3rd quarter worth approximately $34,000. Finally, Generali Asset Management SPA SGR bought a new stake in Republic Services in the 4th quarter worth approximately $45,000. Institutional investors own 57.73% of the company’s stock.

Insider Transactions at Republic Services

In other news, COO Gregg Brummer sold 6,293 shares of the 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 sale, 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 legal filing with the SEC, which is accessible through this link. Insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Stifel Nicolaus boosted 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. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and boosted their price objective for the company from $219.00 to $237.00 in a research report on Tuesday, December 10th. Truist Financial reiterated a “buy” rating and issued a $250.00 price objective (up previously from $244.00) on shares of Republic Services in a research report on Friday, February 14th. Cibc World Mkts upgraded Republic Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 4th. Finally, Royal Bank of Canada upgraded Republic Services from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $219.00 to $237.00 in a research report on Monday, January 6th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $236.88.

Republic Services Price Performance

Shares of RSG stock opened at $232.95 on Monday. The stock has a market cap of $72.75 billion, a price-to-earnings ratio of 35.89, a PEG ratio of 3.64 and a beta of 0.73. The business’s fifty day moving average is $224.90 and its 200 day moving average is $212.70. 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.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, topping 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 period in the prior year, the firm earned $1.41 earnings per share. Research analysts expect that Republic Services, Inc. will post 6.86 EPS 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 paid a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.00%. Republic Services’s dividend payout ratio is currently 35.75%.

Republic Services 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.