Republic Services, Inc. $RSG Shares Sold by M&G PLC

M&G PLC reduced its stake in shares of Republic Services, Inc. (NYSE:RSG) by 2.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,195,901 shares of the business services provider’s stock after selling 35,646 shares during the period. Republic Services accounts for 1.3% of M&G PLC’s holdings, making the stock its 20th biggest position. M&G PLC’s holdings in Republic Services were worth $251,139,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in Republic Services during the second quarter valued at $3,798,092,000. State Street Corp raised its stake in shares of Republic Services by 1.6% during the 2nd quarter. State Street Corp now owns 9,953,507 shares of the business services provider’s stock worth $2,120,893,000 after purchasing an additional 160,051 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Republic Services during the 2nd quarter valued at about $682,573,000. Pictet Asset Management Holding SA lifted its holdings in shares of Republic Services by 14.0% during the 3rd quarter. Pictet Asset Management Holding SA now owns 2,814,825 shares of the business services provider’s stock valued at $590,761,000 after buying an additional 345,719 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Republic Services by 68.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,256,190 shares of the business services provider’s stock valued at $497,828,000 after buying an additional 913,249 shares in the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. purchased 409,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The stock was purchased at an average price of $221.49 per share, with a total value of $90,700,155.00. Following the completion of the transaction, the insider directly owned 116,166,330 shares of the company’s stock, valued at approximately $25,729,680,431.70. This trade represents a 0.35% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought a total of 5,752,798 shares of company stock valued at $1,272,176,181 over the last three months. Corporate insiders own 0.12% of the company’s stock.

Republic Services Price Performance

Shares of RSG stock opened at $246.65 on Tuesday. Republic Services, Inc. has a 12 month low of $196.41 and a 12 month high of $254.39. The company has a market capitalization of $75.14 billion, a P/E ratio of 34.12, a P/E/G ratio of 4.08 and a beta of 0.32. The stock has a 50 day moving average of $225.44 and a two-hundred day moving average of $217.86. The company has a current ratio of 0.75, a quick ratio of 0.64 and a debt-to-equity ratio of 1.14.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Thursday, October 29th. The business services provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.01. The business had revenue of $4.56 billion for the quarter, compared to analysts’ expectations of $4.42 billion. Republic Services had a return on equity of 18.56% and a net margin of 12.93%. Republic Services’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.90 earnings per share. As a group, equities analysts expect that Republic Services, Inc. will post 7.27 EPS for the current year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Monday, January 4th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Monday, January 4th. This represents a $2.68 dividend on an annualized basis and a yield of 1.1%. Republic Services’s payout ratio is presently 37.07%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on RSG shares. Oppenheimer restated an “outperform” rating on shares of Republic Services in a research note on Friday, October 30th. Raymond James Financial set a $235.00 price objective on shares of Republic Services in a report on Friday, October 9th. UBS Group increased their target price on shares of Republic Services from $233.00 to $235.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Wolfe Research assumed coverage on Republic Services in a report on Tuesday, September 15th. They set a “peer perform” rating on the stock. Finally, The Goldman Sachs Group decreased their target price on Republic Services from $256.00 to $246.00 and set a “buy” rating for the company in a research report on Friday, October 2nd. Twelve research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.32.

About Republic Services

Republic Services, Inc provides waste collection, recycling and environmental services to residential, commercial, industrial and municipal customers across the United States. Its services include collecting and transporting waste, operating transfer stations and landfills, and processing recyclable materials.

The company also provides environmental solutions, including services for the management and disposal of hazardous and other specialized waste. Republic Services traces its origins to the 1990s and expanded its operations through the 2008 combination with Allied Waste Industries.

Headquartered in Phoenix, Arizona, Republic Services is led by Chief Executive Officer Jon Vander Ark.