Erste Asset Management GmbH Has $11.43 Million Stock Position in Republic Services, Inc. (NYSE:RSG)

Erste Asset Management GmbH lessened its position in Republic Services, Inc. (NYSE:RSG) by 5.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,382 shares of the business services provider’s stock after selling 3,160 shares during the quarter. Erste Asset Management GmbH’s holdings in Republic Services were worth $11,433,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Republic Services by 37.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,682 shares of the business services provider’s stock valued at $3,586,000 after purchasing an additional 4,827 shares during the period. TCW Group Inc. lifted its stake in shares of Republic Services by 13.0% in the third quarter. TCW Group Inc. now owns 114,582 shares of the business services provider’s stock valued at $23,013,000 after buying an additional 13,138 shares during the period. Avanza Fonder AB bought a new position in Republic Services during the fourth quarter valued at about $4,430,000. Hickory Point Bank & Trust bought a new stake in shares of Republic Services in the 4th quarter worth approximately $790,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Republic Services during the third quarter valued at approximately $6,102,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Trading Down 0.7 %

NYSE RSG opened at $229.08 on Friday. Republic Services, Inc. has a 12 month low of $180.91 and a 12 month high of $240.95. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $71.54 billion, a PE ratio of 35.30, a price-to-earnings-growth ratio of 3.64 and a beta of 0.73. The business’s 50-day moving average price is $221.33 and its two-hundred day moving average price is $211.50.

Republic Services (NYSE:RSG) last released its 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. 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 the consensus estimate of $4.08 billion. During the same quarter in the prior year, the firm posted $1.41 EPS. On average, analysts expect that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be given 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 1.01%. Republic Services’s payout ratio is presently 35.75%.

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 stock was sold at an average price of $228.20, for a total value of $1,436,062.60. Following the completion of the sale, the chief operating officer now directly owns 10,416 shares in the company, valued at $2,376,931.20. This trade represents a 37.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.09% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on RSG. BMO Capital Markets upgraded Republic Services from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $211.00 to $238.00 in a research report on Friday, December 6th. CIBC upgraded Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 target price for the company in a research note on Tuesday, March 4th. Truist Financial reaffirmed a “buy” rating and issued a $250.00 target price (up from $244.00) on shares of Republic Services in a research note on Friday, February 14th. Royal Bank of Canada upgraded shares of Republic Services from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $219.00 to $237.00 in a research report on Monday, January 6th. Finally, Morgan Stanley boosted their price objective on shares of Republic Services from $220.00 to $230.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.