104,116 Shares in Republic Services, Inc. (NYSE:RSG) Acquired by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. bought a new stake in shares of Republic Services, Inc. (NYSE:RSG) during the fourth quarter, Holdings Channel.com reports. The fund bought 104,116 shares of the business services provider’s stock, valued at approximately $20,961,000.

Other institutional investors have also recently made changes to their positions in the company. Public Sector Pension Investment Board boosted its stake in Republic Services by 17.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 6,761 shares of the business services provider’s stock worth $1,358,000 after purchasing an additional 1,000 shares during the period. Hilltop Holdings Inc. boosted its position in shares of Republic Services by 26.6% in the third quarter. Hilltop Holdings Inc. now owns 2,011 shares of the business services provider’s stock valued at $404,000 after acquiring an additional 422 shares during the period. HighTower Advisors LLC grew its stake in Republic Services by 1.5% during the third quarter. HighTower Advisors LLC now owns 27,359 shares of the business services provider’s stock valued at $5,488,000 after acquiring an additional 406 shares in the last quarter. Integrated Wealth Concepts LLC lifted its stake in Republic Services by 1.2% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 4,870 shares of the business services provider’s stock worth $978,000 after purchasing an additional 58 shares in the last quarter. Finally, Parallax Volatility Advisers L.P. bought a new position in Republic Services in the 3rd quarter valued at $595,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. CIBC raised Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 price objective for the company in a research note on Tuesday, March 4th. UBS Group boosted their price objective on Republic Services from $212.00 to $240.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Truist Financial reaffirmed a “buy” rating and issued a $250.00 target price (up from $244.00) on shares of Republic Services in a research note on Friday, February 14th. Cibc World Mkts raised shares of Republic Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 4th. Finally, Stifel Nicolaus lifted their price objective on shares of Republic Services from $240.00 to $257.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Republic Services currently has an average rating of “Moderate Buy” and a consensus price target of $236.88.

Insider Activity at Republic Services

In other news, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the completion of the transaction, the chief operating officer now directly owns 10,416 shares in the company, valued at approximately $2,376,931.20. This trade represents a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Republic Services Price Performance

RSG stock opened at $235.29 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64. Republic Services, Inc. has a 1 year low of $180.92 and a 1 year high of $249.73. The firm has a 50-day moving average of $230.70 and a 200 day moving average of $215.14. The company has a market cap of $73.48 billion, a P/E ratio of 36.25, a PEG ratio of 3.64 and a beta of 0.62.

Republic Services (NYSE:RSG) last released its earnings results on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.21. The company had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. During the same quarter last year, the business posted $1.41 EPS. On average, sell-side analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be paid a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $2.32 annualized dividend and a dividend yield of 0.99%. Republic Services’s payout ratio is 35.75%.

Republic Services Company 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.