Mackenzie Financial Corp Reduces Holdings in Republic Services, Inc. (NYSE:RSG)

Mackenzie Financial Corp reduced its stake in Republic Services, Inc. (NYSE:RSG) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 265,371 shares of the business services provider’s stock after selling 1,259 shares during the quarter. Mackenzie Financial Corp’s holdings in Republic Services were worth $43,762,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. D.A. Davidson & CO. acquired a new position in shares of Republic Services during the first quarter worth about $203,000. Synovus Financial Corp raised its position in shares of Republic Services by 1.9% during the 1st quarter. Synovus Financial Corp now owns 14,255 shares of the business services provider’s stock worth $1,890,000 after acquiring an additional 260 shares in the last quarter. Vontobel Holding Ltd. raised its position in shares of Republic Services by 34.6% during the 1st quarter. Vontobel Holding Ltd. now owns 3,885 shares of the business services provider’s stock worth $523,000 after acquiring an additional 998 shares in the last quarter. Blair William & Co. IL raised its position in shares of Republic Services by 1.6% during the 1st quarter. Blair William & Co. IL now owns 31,162 shares of the business services provider’s stock worth $4,129,000 after acquiring an additional 495 shares in the last quarter. Finally, Moors & Cabot Inc. raised its position in shares of Republic Services by 2.9% during the 1st quarter. Moors & Cabot Inc. now owns 6,726 shares of the business services provider’s stock worth $891,000 after acquiring an additional 187 shares in the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RSG has been the topic of several research analyst reports. Truist Financial raised 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. Wells Fargo & Company lifted their price target on Republic Services from $180.00 to $188.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Morgan Stanley lowered Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 price target on the stock. in a research report on Friday, March 15th. Stifel Nicolaus lifted their price target on Republic Services from $175.00 to $187.00 and gave the stock a “buy” rating in a research report on Tuesday, December 19th. Finally, Scotiabank assumed coverage on Republic Services in a research note on Monday, April 8th. They issued a “sector perform” rating and a $211.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Republic Services presently has a consensus rating of “Moderate Buy” and an average price target of $199.77.

Insider Transactions at Republic Services

In related news, CEO Ark Jon Vander sold 5,446 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 85,113 shares in the company, valued at $15,669,303.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.

Republic Services Stock Performance

Shares of RSG stock opened at $187.47 on Wednesday. The stock has a fifty day moving average price of $185.00 and a 200 day moving average price of $168.20. The stock has a market cap of $59.05 billion, a PE ratio of 34.27, a P/E/G ratio of 3.27 and a beta of 0.68. Republic Services, Inc. has a 1 year low of $135.33 and a 1 year high of $192.57. 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 (NYSE:RSG) last issued its quarterly earnings data on Tuesday, February 27th. The business services provider reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.13. Republic Services had a return on equity of 17.32% and a net margin of 11.57%. The firm had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.73 billion. During the same period in the previous year, the firm posted $1.13 earnings per share. Republic Services’s revenue was up 8.6% on a year-over-year basis. Sell-side analysts forecast that Republic Services, Inc. will post 6.01 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Tuesday, April 2nd were issued a $0.535 dividend. The ex-dividend date was Monday, April 1st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.14%. Republic Services’s dividend payout ratio (DPR) is 39.12%.

Republic Services 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.