Republic Services, Inc. (NYSE:RSG) Shares Bought by DnB Asset Management AS

DnB Asset Management AS lifted its position in shares of Republic Services, Inc. (NYSE:RSG) by 65.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 72,931 shares of the business services provider’s stock after purchasing an additional 28,764 shares during the quarter. DnB Asset Management AS’s holdings in Republic Services were worth $14,672,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. McGlone Suttner Wealth Management Inc. lifted its position in shares of Republic Services by 2.2% during the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 2,213 shares of the business services provider’s stock worth $445,000 after purchasing an additional 48 shares in the last quarter. Access Financial Services Inc. lifted its holdings in Republic Services by 0.8% in the 4th quarter. Access Financial Services Inc. now owns 6,178 shares of the business services provider’s stock worth $1,243,000 after buying an additional 51 shares in the last quarter. Hantz Financial Services Inc. boosted its position in Republic Services by 1.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 5,099 shares of the business services provider’s stock valued at $1,024,000 after buying an additional 52 shares during the last quarter. Tower Wealth Partners Inc. increased its position in shares of Republic Services by 3.3% during the fourth quarter. Tower Wealth Partners Inc. now owns 1,697 shares of the business services provider’s stock worth $341,000 after acquiring an additional 54 shares during the last quarter. Finally, Umpqua Bank lifted its stake in shares of Republic Services by 3.2% in the fourth quarter. Umpqua Bank now owns 1,808 shares of the business services provider’s stock worth $374,000 after acquiring an additional 56 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Price Performance

Shares of NYSE RSG opened at $238.37 on Friday. Republic Services, Inc. has a fifty-two week low of $180.92 and a fifty-two week high of $241.09. The stock has a market cap of $74.44 billion, a P/E ratio of 36.73, a P/E/G ratio of 3.64 and a beta of 0.73. The firm’s 50-day simple moving average is $227.72 and its 200 day simple moving average is $213.75. 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, beating analysts’ consensus estimates of $1.37 by $0.21. The company 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 period in the prior year, the company earned $1.41 EPS. Equities analysts expect that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 presently 35.75%.

Insider Buying and Selling at Republic Services

In other news, COO Gregg Brummer sold 6,293 shares of the business’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 sale, the chief operating officer now owns 10,416 shares in the company, valued at $2,376,931.20. The trade was a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Stifel Nicolaus lifted their price objective on Republic Services from $240.00 to $257.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. BMO Capital Markets upgraded shares of Republic Services from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $211.00 to $238.00 in a research note on Friday, December 6th. CIBC upgraded shares of 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. Truist Financial reissued a “buy” rating and issued a $250.00 target price (up previously from $244.00) on shares of Republic Services in a research report on Friday, February 14th. Finally, Cibc World Mkts upgraded Republic Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 4th. Five investment 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 company. According to MarketBeat, the company has an average 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.