Lbp Am Sa Acquires 38,448 Shares of Republic Services, Inc. (NYSE:RSG)

Lbp Am Sa boosted its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 49.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 115,479 shares of the business services provider’s stock after acquiring an additional 38,448 shares during the quarter. Lbp Am Sa’s holdings in Republic Services were worth $23,232,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Republic Services by 37.5% in the fourth 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. raised its position 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 purchasing an additional 13,138 shares during the period. Avanza Fonder AB bought a new position in shares of Republic Services in the fourth quarter valued at approximately $4,430,000. Hickory Point Bank & Trust bought a new position in shares of Republic Services in the fourth quarter valued at approximately $790,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Republic Services in the third quarter valued at approximately $6,102,000. Institutional investors own 57.73% of the company’s stock.

Wall Street Analyst Weigh In

RSG has been the topic of a number of research reports. CIBC raised shares of Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 target price on the stock in a research report on Tuesday, March 4th. Stifel Nicolaus boosted their target price on shares of Republic Services from $240.00 to $257.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. BMO Capital Markets raised shares of Republic Services from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $211.00 to $238.00 in a research report on Friday, December 6th. Truist Financial reaffirmed a “buy” rating and set a $250.00 target price (up previously from $244.00) on shares of Republic Services in a research report on Friday, February 14th. Finally, UBS Group boosted their target price on shares of Republic Services from $212.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. 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, Republic Services currently has an average rating of “Moderate Buy” and a consensus target price of $236.88.

Republic Services Stock Down 0.7 %

Shares of NYSE:RSG opened at $229.08 on Friday. Republic Services, Inc. has a 52 week low of $180.91 and a 52 week high of $240.95. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. The company’s fifty day moving average is $221.33 and its 200-day moving average is $211.50. The company has a market capitalization of $71.54 billion, a PE ratio of 35.30, a P/E/G ratio of 3.64 and a beta of 0.73.

Republic Services (NYSE:RSG) last issued its earnings results on Thursday, February 13th. The business services provider reported $1.58 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 company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the previous year, the company earned $1.41 EPS. Equities research analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The business also recently declared 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 is Wednesday, April 2nd. This represents a $2.32 annualized dividend and a yield of 1.01%. Republic Services’s dividend payout ratio (DPR) is 35.75%.

Insider Buying and Selling

In related news, COO Gregg Brummer sold 6,293 shares of the company’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 transaction, the chief operating officer now owns 10,416 shares in the company, valued at $2,376,931.20. This represents a 37.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is owned by corporate insiders.

Republic Services Company 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.