Corebridge Financial Inc. Grows Holdings in Republic Services, Inc. (NYSE:RSG)

Corebridge Financial Inc. lifted its position in shares of Republic Services, Inc. (NYSE:RSG) by 8.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 64,961 shares of the business services provider’s stock after buying an additional 4,941 shares during the quarter. Corebridge Financial Inc.’s holdings in Republic Services were worth $13,069,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. FSA Wealth Management LLC acquired a new position in Republic Services in the 3rd quarter valued at $25,000. Arcadia Investment Management Corp MI increased its stake 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 last quarter. R Squared Ltd purchased a new position in Republic Services during the fourth quarter worth about $32,000. Truvestments Capital LLC acquired a new stake in Republic Services in the 3rd quarter worth about $34,000. Finally, Generali Asset Management SPA SGR acquired a new position in shares of Republic Services during the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Trading Up 0.8 %

Shares of NYSE:RSG opened at $237.91 on Wednesday. Republic Services, Inc. has a 12-month low of $180.92 and a 12-month high of $240.95. 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 firm has a market capitalization of $74.30 billion, a P/E ratio of 36.66, a price-to-earnings-growth ratio of 3.64 and a beta of 0.73. The firm has a fifty day moving average of $226.10 and a two-hundred day moving average of $213.16.

Republic Services (NYSE:RSG) last issued its earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.21. The company had revenue of $4.05 billion for 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 period in the prior year, the firm posted $1.41 EPS. On average, equities analysts expect that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services’s dividend payout ratio is 35.75%.

Insider Transactions at Republic Services

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 stock was sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the transaction, the chief operating officer now directly owns 10,416 shares in the company, valued at $2,376,931.20. This trade represents a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group boosted their target price on shares of Republic Services from $235.00 to $244.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Morgan Stanley upped their price objective on Republic Services from $220.00 to $230.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Argus set a $260.00 target price on Republic Services in a report on Tuesday, February 18th. Royal Bank of Canada raised Republic Services from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $219.00 to $237.00 in a research note on Monday, January 6th. Finally, Truist Financial restated a “buy” rating and issued a $250.00 price target (up previously from $244.00) on shares of Republic Services in a report on Friday, February 14th. Five investment 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 MarketBeat.com, Republic Services currently has an average rating of “Moderate Buy” and an average target price of $236.88.

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.