LGT Group Foundation Raises Stock Holdings in Republic Services, Inc. (NYSE:RSG)

LGT Group Foundation lifted its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 2.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,771 shares of the business services provider’s stock after acquiring an additional 705 shares during the quarter. LGT Group Foundation’s holdings in Republic Services were worth $5,788,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of RSG. Farther Finance Advisors LLC increased its position in shares of Republic Services by 1.6% during the third quarter. Farther Finance Advisors LLC now owns 6,102 shares of the business services provider’s stock valued at $1,226,000 after acquiring an additional 96 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Republic Services by 1.3% during the third quarter. Janney Montgomery Scott LLC now owns 55,581 shares of the business services provider’s stock valued at $11,163,000 after acquiring an additional 726 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in Republic Services by 7.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 417,756 shares of the business services provider’s stock worth $83,902,000 after buying an additional 29,273 shares during the last quarter. Intact Investment Management Inc. purchased a new stake in Republic Services in the third quarter worth $72,000. Finally, National Pension Service increased its position in Republic Services by 18.9% in the third quarter. National Pension Service now owns 318,629 shares of the business services provider’s stock worth $63,993,000 after buying an additional 50,568 shares during the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Price Performance

NYSE:RSG opened at $239.49 on Tuesday. The firm has a market capitalization of $74.79 billion, a price-to-earnings ratio of 36.90, a P/E/G ratio of 3.64 and a beta of 0.74. Republic Services, Inc. has a 52-week low of $180.91 and a 52-week high of $240.64. The stock has a fifty day moving average of $216.48 and a 200 day moving average of $210.05. 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 (NYSE:RSG) last posted its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.21. The company had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. During the same quarter last year, the company earned $1.41 earnings per share. On average, research analysts expect that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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 yield of 0.97%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services’s dividend payout ratio is 35.75%.

Insider Activity at Republic Services

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the completion of the sale, the chief operating officer now owns 10,416 shares of the company’s stock, valued at $2,376,931.20. The trade was a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Katharine Weymouth sold 1,859 shares of Republic Services stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $215.27, for a total value of $400,186.93. Following the sale, the director now directly owns 879 shares of the company’s stock, valued at approximately $189,222.33. This trade represents a 67.90 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on RSG shares. Morgan Stanley raised their target price on Republic Services from $220.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. BMO Capital Markets raised 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. William Blair reissued an “outperform” rating on shares of Republic Services in a research report on Friday, February 14th. Truist Financial reissued a “buy” rating and issued a $250.00 target price (up from $244.00) on shares of Republic Services in a research report on Friday, February 14th. Finally, Royal Bank of Canada upgraded Republic Services from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $219.00 to $237.00 in a research report on Monday, January 6th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $234.56.

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.