Republic Services, Inc. (NYSE:RSG) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its position in Republic Services, Inc. (NYSE:RSG) by 1.0% during the 4th quarter, Holdings Channel reports. The firm owned 2,546,088 shares of the business services provider’s stock after acquiring an additional 25,350 shares during the quarter. Republic Services comprises about 0.8% of Allspring Global Investments Holdings LLC’s holdings, making the stock its 11th biggest position. Allspring Global Investments Holdings LLC’s holdings in Republic Services were worth $509,462,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in RSG. Portfolio Design Labs LLC acquired a new position in Republic Services during the fourth quarter worth about $281,000. JSF Financial LLC increased its stake in shares of Republic Services by 5.7% during the 4th quarter. JSF Financial LLC now owns 4,637 shares of the business services provider’s stock worth $933,000 after purchasing an additional 248 shares in the last quarter. Axecap Investments LLC raised its position in shares of Republic Services by 11.4% during the 4th quarter. Axecap Investments LLC now owns 15,905 shares of the business services provider’s stock worth $3,200,000 after purchasing an additional 1,622 shares during the last quarter. Mill Creek Capital Advisors LLC purchased a new stake in Republic Services in the 4th quarter valued at approximately $901,000. Finally, Wingate Wealth Advisors Inc. purchased a new position in Republic Services during the fourth quarter worth $80,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Activity at Republic Services

In other Republic Services news, Director Katharine Weymouth sold 1,859 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $215.27, for a total value of $400,186.93. Following the transaction, the director now directly owns 879 shares of the company’s stock, valued at $189,222.33. This trade represents a 67.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 6,318 shares of the company’s stock, valued at $1,326,906.36. The trade was 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.

Republic Services Price Performance

RSG stock opened at $223.20 on Wednesday. The company has a market cap of $69.89 billion, a PE ratio of 35.71, a price-to-earnings-growth ratio of 3.24 and a beta of 0.74. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. The stock has a 50-day moving average price of $210.15 and a two-hundred day moving average price of $206.59. Republic Services, Inc. has a 12-month low of $171.06 and a 12-month high of $223.43.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s dividend payout ratio (DPR) is presently 37.12%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on RSG shares. BMO Capital Markets upgraded Republic Services from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $211.00 to $238.00 in a research report on Friday, December 6th. CIBC upped their target price on shares of Republic Services from $217.00 to $227.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Royal Bank of Canada upgraded shares of Republic Services from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $219.00 to $237.00 in a report on Monday, January 6th. Jefferies Financial Group upped their price objective on shares of Republic Services from $235.00 to $244.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Finally, Morgan Stanley lifted their target price on shares of Republic Services from $217.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $224.38.

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.