Republic Services, Inc. (NYSE:RSG) Shares Purchased by First American Bank

First American Bank raised its holdings in Republic Services, Inc. (NYSE:RSG) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,854 shares of the business services provider’s stock after acquiring an additional 908 shares during the quarter. First American Bank’s holdings in Republic Services were worth $6,811,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Wellington Management Group LLP boosted its holdings in Republic Services by 23.2% during 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 buying an additional 1,131,850 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Republic Services by 1.7% during the 3rd 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 in the last quarter. Nordea Investment Management AB grew its holdings in shares of Republic Services by 19.4% in the 4th quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock worth $626,553,000 after acquiring an additional 509,116 shares during the period. Allspring Global Investments Holdings LLC increased its stake 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 in the last quarter. Finally, Stifel Financial Corp boosted its position in Republic Services by 437.9% during the third quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock worth $364,449,000 after purchasing an additional 1,477,255 shares in the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Price Performance

Republic Services stock opened at $232.64 on Friday. The company has a market cap of $72.65 billion, a price-to-earnings ratio of 35.85, a PEG ratio of 3.64 and a beta of 0.74. 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 firm has a 50 day moving average price of $215.06 and a 200 day moving average price of $209.41. Republic Services, Inc. has a 1 year low of $180.91 and a 1 year high of $234.02.

Republic Services (NYSE:RSG) last posted its earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping 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 firm 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 company earned $1.41 EPS. Sell-side analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services’s dividend payout ratio (DPR) is 35.75%.

Insider Buying and Selling

In other news, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 10,416 shares in the company, valued at approximately $2,376,931.20. This trade represents a 37.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Katharine Weymouth sold 1,859 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The shares were 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 in the company, valued at approximately $189,222.33. This represents a 67.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

RSG has been the subject of a number of research analyst reports. The Goldman Sachs Group raised their price target on Republic Services from $239.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Jefferies Financial Group increased their price target on shares of Republic Services from $235.00 to $244.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Truist Financial reaffirmed a “buy” rating and issued a $250.00 target price (up previously from $244.00) on shares of Republic Services in a research note on Friday, February 14th. BMO Capital Markets raised Republic Services from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $211.00 to $238.00 in a research report on Friday, December 6th. Finally, CIBC upped their price objective on Republic Services from $217.00 to $227.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $233.41.

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.