M&T Bank Corp Has $5.84 Million Position in Republic Services, Inc. (NYSE:RSG)

M&T Bank Corp trimmed its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 4.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,083 shares of the business services provider’s stock after selling 1,346 shares during the quarter. M&T Bank Corp’s holdings in Republic Services were worth $5,841,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RSG. Sequoia Financial Advisors LLC increased its holdings in Republic Services by 2.1% in the second quarter. Sequoia Financial Advisors LLC now owns 3,229 shares of the business services provider’s stock valued at $627,000 after purchasing an additional 67 shares during the period. Diversified Trust Co bought a new position in shares of Republic Services during the second quarter worth about $258,000. Swedbank AB lifted its stake in shares of Republic Services by 13.8% in the second quarter. Swedbank AB now owns 52,245 shares of the business services provider’s stock worth $10,153,000 after acquiring an additional 6,317 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Republic Services by 1.2% in the second quarter. Assenagon Asset Management S.A. now owns 4,917 shares of the business services provider’s stock valued at $956,000 after acquiring an additional 57 shares during the last quarter. Finally, Miracle Mile Advisors LLC bought a new position in Republic Services during the 2nd quarter worth approximately $259,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on RSG shares. Oppenheimer increased their price objective on shares of Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Truist Financial increased their price target on Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. William Blair initiated coverage on Republic Services in a research note on Thursday, October 3rd. They issued an “outperform” rating on the stock. CIBC lifted their target price on Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, BMO Capital Markets upgraded Republic Services from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $211.00 to $238.00 in a report on Friday, December 6th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $220.06.

Republic Services Price Performance

RSG stock opened at $210.25 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64. The business has a 50-day simple moving average of $208.20 and a two-hundred day simple moving average of $201.50. The company has a market capitalization of $65.84 billion, a P/E ratio of 33.64, a price-to-earnings-growth ratio of 3.21 and a beta of 0.71. Republic Services, Inc. has a 52-week low of $160.65 and a 52-week high of $220.58.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The business had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the prior year, the company posted $1.54 earnings per share. Republic Services’s revenue was up 6.5% compared to the same quarter last year. Research analysts expect that Republic Services, Inc. will post 6.25 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s dividend payout ratio (DPR) is presently 37.12%.

Insiders Place Their Bets

In other news, Director Katharine Weymouth sold 1,859 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total value of $400,186.93. Following the completion of the transaction, the director now directly owns 879 shares of the company’s stock, valued at $189,222.33. This represents a 67.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total value of $1,065,011.42. Following the completion of the transaction, the chief financial officer now directly owns 6,318 shares in the company, valued at approximately $1,326,906.36. This represents a 44.53 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is currently 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.