Corebridge Financial Inc. Purchases 4,941 Shares of Republic Services, Inc. (NYSE:RSG)

Corebridge Financial Inc. raised its position in shares of Republic Services, Inc. (NYSE:RSG) by 8.2% in the fourth quarter, Holdings Channel reports. The fund owned 64,961 shares of the business services provider’s stock after buying an additional 4,941 shares during the quarter. Corebridge Financial Inc.’s holdings in Republic Services were worth $13,069,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Republic Services by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 18,590,728 shares of the business services provider’s stock valued at $3,740,083,000 after buying an additional 144,719 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Republic Services by 23.2% in the third quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider’s stock worth $1,205,883,000 after acquiring an additional 1,131,850 shares during the last quarter. Geode Capital Management LLC increased its position in Republic Services by 1.7% during the third quarter. Geode Capital Management LLC now owns 4,507,521 shares of the business services provider’s stock worth $903,316,000 after acquiring an additional 73,207 shares during the period. Nordea Investment Management AB raised its stake in Republic Services by 19.4% during the 4th quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock valued at $626,553,000 after purchasing an additional 509,116 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Republic Services by 1.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,546,088 shares of the business services provider’s stock valued at $509,462,000 after purchasing an additional 25,350 shares during the period. 57.73% of the stock is currently owned by institutional investors.

Insider Activity at Republic Services

In other news, COO Gregg Brummer sold 6,293 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total value of $1,436,062.60. Following the transaction, the chief operating officer now owns 10,416 shares of the company’s stock, valued at approximately $2,376,931.20. This trade represents a 37.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on RSG shares. Morgan Stanley upped their price objective on shares of Republic Services from $220.00 to $230.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Stifel Nicolaus raised their price objective on Republic Services from $240.00 to $257.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. UBS Group upped their target price on Republic Services from $212.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. William Blair reiterated an “outperform” rating on shares of Republic Services in a research note on Friday, February 14th. Finally, BMO Capital Markets raised shares of Republic Services from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $211.00 to $238.00 in a report on Friday, December 6th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Republic Services has an average rating of “Moderate Buy” and a consensus target price of $236.88.

Republic Services Stock Performance

Shares of NYSE:RSG opened at $237.91 on Wednesday. The business has a fifty day moving average of $226.10 and a 200-day moving average of $213.16. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. Republic Services, Inc. has a twelve month low of $180.92 and a twelve month high of $240.95. The firm has a market cap of $74.30 billion, a PE ratio of 36.66, a price-to-earnings-growth ratio of 3.64 and a beta of 0.73.

Republic Services (NYSE:RSG) last announced its earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, topping 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 previous year, the firm posted $1.41 earnings per share. On average, equities research analysts predict that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company 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. This represents a $2.32 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s dividend payout ratio (DPR) is presently 35.75%.

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.