Tokio Marine Asset Management Co. Ltd. Acquires 502 Shares of Republic Services, Inc. (NYSE:RSG)

Tokio Marine Asset Management Co. Ltd. lifted its holdings in Republic Services, Inc. (NYSE:RSG) by 11.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,924 shares of the business services provider’s stock after purchasing an additional 502 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Republic Services were worth $812,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in RSG. JPMorgan Chase & Co. increased its position in Republic Services by 0.7% in the third quarter. JPMorgan Chase & Co. now owns 6,658,978 shares of the business services provider’s stock worth $948,971,000 after purchasing an additional 44,512 shares during the period. Morgan Stanley increased its position in Republic Services by 4.1% in the third quarter. Morgan Stanley now owns 5,054,359 shares of the business services provider’s stock worth $720,297,000 after purchasing an additional 197,654 shares during the period. Nordea Investment Management AB increased its position in Republic Services by 2.9% in the third quarter. Nordea Investment Management AB now owns 3,790,052 shares of the business services provider’s stock worth $547,473,000 after purchasing an additional 107,499 shares during the period. Allspring Global Investments Holdings LLC increased its position in Republic Services by 0.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,727,719 shares of the business services provider’s stock worth $531,237,000 after purchasing an additional 13,166 shares during the period. Finally, Northern Trust Corp increased its position in Republic Services by 4.8% in the third quarter. Northern Trust Corp now owns 2,376,009 shares of the business services provider’s stock worth $338,605,000 after purchasing an additional 109,437 shares during the period. 57.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RSG. UBS Group lowered Republic Services from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $175.00 to $195.00 in a research report on Thursday, February 29th. Truist Financial boosted their target price on Republic Services from $175.00 to $192.00 and gave the stock a “hold” rating in a research report on Wednesday, February 28th. The Goldman Sachs Group boosted their target price on Republic Services from $209.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Scotiabank started coverage on Republic Services in a research report on Monday, April 8th. They set a “sector perform” rating and a $211.00 target price for the company. Finally, Oppenheimer boosted their target price on Republic Services from $182.00 to $195.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 28th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $199.77.

Insider Transactions at Republic Services

In related news, CEO Ark Jon Vander sold 5,446 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the transaction, the chief executive officer now directly owns 85,113 shares of the company’s stock, valued at approximately $15,669,303.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.09% of the company’s stock.

Republic Services Trading Down 0.8 %

NYSE RSG opened at $191.92 on Friday. The stock has a market capitalization of $60.45 billion, a price-to-earnings ratio of 35.09, a PEG ratio of 3.39 and a beta of 0.68. The stock’s 50 day moving average price is $187.36 and its two-hundred day moving average price is $170.49. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. Republic Services, Inc. has a 52 week low of $135.33 and a 52 week high of $193.82.

Republic Services (NYSE:RSG) last released its earnings results on Tuesday, February 27th. The business services provider reported $1.41 EPS for the quarter, beating the consensus estimate of $1.28 by $0.13. The firm had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.73 billion. Republic Services had a return on equity of 17.32% and a net margin of 11.57%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.13 EPS. As a group, analysts anticipate that Republic Services, Inc. will post 6.01 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, July 2nd will be paid a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Tuesday, July 2nd. Republic Services’s dividend payout ratio is currently 39.12%.

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.