Allstate Corp Invests $1.33 Million in Republic Services, Inc. (NYSE:RSG)

Allstate Corp acquired a new stake in Republic Services, Inc. (NYSE:RSG) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 6,616 shares of the business services provider’s stock, valued at approximately $1,331,000.

Several other institutional investors also recently bought and sold shares of RSG. FSA Wealth Management LLC purchased a new stake in shares of Republic Services in the third quarter valued at about $25,000. Arcadia Investment Management Corp MI lifted its position in Republic Services by 200.0% in the fourth quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 88 shares during the period. R Squared Ltd purchased a new stake in Republic Services in the 4th quarter valued at approximately $32,000. New Age Alpha Advisors LLC increased its position in Republic Services by 70.2% during the 4th quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider’s stock worth $36,000 after purchasing an additional 73 shares during the period. Finally, Generali Asset Management SPA SGR acquired a new stake in shares of Republic Services in the 4th quarter valued at approximately $45,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Stock Down 0.6 %

Shares of Republic Services stock opened at $238.37 on Monday. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. The business has a 50-day moving average price of $227.72 and a 200 day moving average price of $213.86. Republic Services, Inc. has a fifty-two week low of $180.92 and a fifty-two week high of $241.09. The firm has a market cap of $74.44 billion, a P/E ratio of 36.73, a P/E/G ratio of 3.64 and a beta of 0.73.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the previous year, the business earned $1.41 EPS. On average, sell-side analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be given 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 dividend yield of 0.97%. Republic Services’s payout ratio is currently 35.75%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RSG. UBS Group increased their price objective on Republic Services from $212.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Stifel Nicolaus increased their price target on shares of Republic Services from $240.00 to $257.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Argus set a $260.00 price objective on shares of Republic Services in a report on Tuesday, February 18th. Truist Financial reaffirmed a “buy” rating and issued a $250.00 target price (up from $244.00) on shares of Republic Services in a report on Friday, February 14th. Finally, Cibc World Mkts upgraded Republic Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 4th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $236.88.

Insider Activity

In other Republic Services 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 $2,376,931.20. This trade represents a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.09% of the company’s stock.

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.