Republic Services, Inc. (NYSE:RSG) Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. lessened its stake in shares of Republic Services, Inc. (NYSE:RSG) by 78.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,200 shares of the business services provider’s stock after selling 8,218 shares during the quarter. iA Global Asset Management Inc.’s holdings in Republic Services were worth $443,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of RSG. Stifel Financial Corp boosted its holdings in shares of 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 during the last quarter. Wellington Management Group LLP boosted its holdings in shares of 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 purchasing an additional 1,131,850 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Republic Services during the fourth quarter worth $184,827,000. Nordea Investment Management AB boosted its holdings in shares of Republic Services by 19.4% during the fourth quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock worth $626,553,000 after purchasing an additional 509,116 shares during the last quarter. Finally, National Bank of Canada FI boosted its holdings in shares of Republic Services by 544.7% during the third quarter. National Bank of Canada FI now owns 545,613 shares of the business services provider’s stock worth $109,580,000 after purchasing an additional 460,989 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Analyst Upgrades and Downgrades

RSG has been the topic of several analyst reports. Truist Financial restated a “buy” rating and set a $250.00 price objective (up previously from $244.00) on shares of Republic Services in a report on Friday, February 14th. William Blair reiterated an “outperform” rating on shares of Republic Services in a report on Friday, February 14th. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and lifted their target price for the company from $219.00 to $237.00 in a report on Tuesday, December 10th. Cibc World Mkts upgraded Republic Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 4th. Finally, UBS Group lifted their target price on Republic Services from $212.00 to $240.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Republic Services has a consensus rating of “Moderate Buy” and an average price target of $236.88.

Insider Buying and Selling

In related 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 value of $1,436,062.60. Following the completion of the transaction, the chief operating officer now directly owns 10,416 shares in the company, valued at approximately $2,376,931.20. This trade represents a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.09% of the company’s stock.

Republic Services Stock Down 0.8 %

Shares of NYSE RSG opened at $232.95 on Friday. Republic Services, Inc. has a 1 year low of $180.92 and a 1 year high of $240.95. The firm has a market cap of $72.75 billion, a price-to-earnings ratio of 35.89, a PEG ratio of 3.64 and a beta of 0.73. 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 stock’s 50-day simple moving average is $224.90 and its 200-day simple moving average is $212.66.

Republic Services (NYSE:RSG) last announced 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 return on equity of 18.28% and a net margin of 12.74%. The business had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period in the previous year, the company earned $1.41 earnings per share. As a group, equities analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The company 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. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 1.00%. Republic Services’s dividend payout ratio (DPR) is 35.75%.

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.