Korea Investment CORP Buys 53,810 Shares of Republic Services, Inc. (NYSE:RSG)

Korea Investment CORP raised its stake in shares of Republic Services, Inc. (NYSE:RSG) by 49.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 162,169 shares of the business services provider’s stock after purchasing an additional 53,810 shares during the period. Korea Investment CORP owned 0.05% of Republic Services worth $32,625,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in RSG. FSA Wealth Management LLC bought a new stake in shares of Republic Services in the 3rd quarter worth about $25,000. Arcadia Investment Management Corp MI lifted its stake in Republic Services by 200.0% in the fourth quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock worth $27,000 after purchasing an additional 88 shares during the last quarter. R Squared Ltd purchased a new position in shares of Republic Services during the fourth quarter valued at approximately $32,000. Generali Asset Management SPA SGR purchased a new stake in shares of Republic Services in the fourth quarter worth approximately $45,000. Finally, Bank of Jackson Hole Trust bought a new stake in shares of Republic Services during the 4th quarter worth approximately $48,000. 57.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on RSG shares. The Goldman Sachs Group boosted their target price on shares of Republic Services from $239.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Cibc World Mkts raised shares of Republic Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 4th. Truist Financial reaffirmed a “buy” rating and set a $250.00 price target (up previously from $244.00) on shares of Republic Services in a research note on Friday, February 14th. CIBC raised Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 price objective on the stock in a research note on Tuesday, March 4th. Finally, Stifel Nicolaus lifted their target price on Republic Services from $240.00 to $257.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Republic Services has a consensus rating of “Moderate Buy” and a consensus price target of $236.88.

Republic Services Stock Down 0.6 %

Shares of Republic Services stock opened at $238.37 on Friday. 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 $74.44 billion, a P/E ratio of 36.73, a PEG ratio of 3.64 and a beta of 0.73. The firm’s 50 day moving average price is $227.72 and its 200-day moving average price is $213.75. Republic Services, Inc. has a 52-week low of $180.92 and a 52-week high of $241.09.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.21. The business had revenue of $4.05 billion for the quarter, compared to the consensus estimate 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 prior year, the firm posted $1.41 earnings per share. On average, sell-side analysts predict that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.97%. Republic Services’s payout ratio is 35.75%.

Insider Activity at Republic Services

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the company’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 owns 10,416 shares in the company, valued at approximately $2,376,931.20. This represents a 37.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.09% of the stock is currently owned by insiders.

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.