PGGM Investments Acquires 1,008 Shares of Republic Services, Inc. (NYSE:RSG)

PGGM Investments lifted its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 35.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,829 shares of the business services provider’s stock after purchasing an additional 1,008 shares during the period. PGGM Investments’ holdings in Republic Services were worth $631,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RSG. Schechter Investment Advisors LLC increased its position in Republic Services by 19.4% in the 3rd quarter. Schechter Investment Advisors LLC now owns 2,791 shares of the business services provider’s stock valued at $398,000 after acquiring an additional 453 shares in the last quarter. abrdn plc raised its position in Republic Services by 64.1% in the 4th quarter. abrdn plc now owns 96,531 shares of the business services provider’s stock worth $15,919,000 after purchasing an additional 37,690 shares during the last quarter. First Financial Corp IN lifted its holdings in Republic Services by 4.7% during the 4th quarter. First Financial Corp IN now owns 2,858 shares of the business services provider’s stock worth $471,000 after buying an additional 128 shares in the last quarter. SG Americas Securities LLC boosted its position in Republic Services by 217.7% in the 4th quarter. SG Americas Securities LLC now owns 76,038 shares of the business services provider’s stock valued at $12,539,000 after buying an additional 52,104 shares during the last quarter. Finally, Robeco Schweiz AG raised its position in shares of Republic Services by 65.9% during the third quarter. Robeco Schweiz AG now owns 34,500 shares of the business services provider’s stock worth $4,917,000 after acquiring an additional 13,700 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Price Performance

Shares of RSG opened at $193.41 on Tuesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market capitalization of $60.92 billion, a PE ratio of 35.36, a P/E/G ratio of 3.36 and a beta of 0.68. The stock has a 50 day simple moving average of $187.62 and a 200 day simple moving average of $171.16. Republic Services, Inc. has a 52-week low of $140.07 and a 52-week high of $193.82.

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

Republic Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, July 2nd will be issued a $0.535 dividend. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.11%. Republic Services’s dividend payout ratio (DPR) is 39.12%.

Wall Street Analysts Forecast Growth

RSG has been the subject of a number of research reports. Royal Bank of Canada assumed coverage on Republic Services in a research report on Monday, April 8th. They issued a “sector perform” rating and a $198.00 price objective for the company. Scotiabank started coverage on shares of Republic Services in a research report on Monday, April 8th. They set a “sector perform” rating and a $211.00 price target for the company. Citigroup increased their price objective on shares of Republic Services from $190.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Wells Fargo & Company lifted their target price on shares of Republic Services from $180.00 to $188.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. Finally, Jefferies Financial Group raised their price target on Republic Services from $213.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $199.77.

Insider Transactions at Republic Services

In other Republic Services 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 value of $1,002,608.60. Following the sale, the chief executive officer now owns 85,113 shares in the company, valued at approximately $15,669,303.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is owned by insiders.

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.