Generate Investment Management Ltd Lowers Holdings in Republic Services, Inc. (NYSE:RSG)

Generate Investment Management Ltd reduced its stake in Republic Services, Inc. (NYSE:RSG) by 24.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,077 shares of the business services provider’s stock after selling 13,044 shares during the period. Generate Investment Management Ltd’s holdings in Republic Services were worth $8,063,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. FSA Wealth Management LLC bought a new stake in Republic Services during the 3rd quarter valued at about $25,000. Wolff Wiese Magana LLC raised its holdings in Republic Services by 351.6% in the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock worth $28,000 after acquiring an additional 109 shares during the last quarter. Webster Bank N. A. bought a new position in Republic Services in the 3rd quarter valued at approximately $31,000. R Squared Ltd purchased a new stake in Republic Services during the 4th quarter valued at $32,000. Finally, Truvestments Capital LLC purchased a new position in shares of Republic Services in the third quarter worth $34,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Analyst Ratings Changes

RSG has been the subject of several research analyst reports. Royal Bank of Canada upgraded Republic Services from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $219.00 to $237.00 in a report on Monday, January 6th. Truist Financial lifted their price target on shares of Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. CIBC raised their target price on shares of Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Morgan Stanley boosted their target price on shares of Republic Services from $217.00 to $220.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and raised their price target for the stock from $219.00 to $237.00 in a research note on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $224.38.

Republic Services Stock Performance

RSG opened at $220.91 on Friday. The firm has a market cap of $69.18 billion, a P/E ratio of 35.35, a PEG ratio of 3.17 and a beta of 0.74. Republic Services, Inc. has a 1-year low of $171.06 and a 1-year high of $222.65. The company has a 50 day simple moving average of $209.96 and a two-hundred day simple moving average of $206.15. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64.

Republic Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be issued a dividend of $0.58 per share. 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 1.05%. Republic Services’s dividend payout ratio is presently 37.12%.

Insider Transactions at Republic Services

In other Republic Services news, Director Katharine Weymouth sold 1,859 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total value of $400,186.93. Following the completion of the transaction, the director now directly owns 879 shares in the company, valued at $189,222.33. This represents a 67.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the sale, the chief financial officer now owns 6,318 shares in the company, valued at approximately $1,326,906.36. The trade was a 44.53 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.