Republic Services, Inc. (NYSE:RSG) Shares Bought by Pinebridge Investments L.P.

Pinebridge Investments L.P. lifted its position in shares of Republic Services, Inc. (NYSE:RSGFree Report) by 78.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,614 shares of the business services provider’s stock after buying an additional 19,156 shares during the period. Pinebridge Investments L.P.’s holdings in Republic Services were worth $7,192,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of Nova Scotia increased its holdings in shares of Republic Services by 52.3% during the 4th quarter. Bank of Nova Scotia now owns 214,504 shares of the business services provider’s stock worth $35,357,000 after buying an additional 73,651 shares during the last quarter. TCW Group Inc. purchased a new position in shares of Republic Services during the 4th quarter worth approximately $17,903,000. Hsbc Holdings PLC boosted its position in shares of Republic Services by 8.7% during the 4th quarter. Hsbc Holdings PLC now owns 456,726 shares of the business services provider’s stock worth $75,297,000 after purchasing an additional 36,484 shares during the period. Allianz Asset Management GmbH boosted its position in shares of Republic Services by 10.4% during the 4th quarter. Allianz Asset Management GmbH now owns 591,209 shares of the business services provider’s stock worth $97,496,000 after purchasing an additional 55,668 shares during the period. Finally, abrdn plc boosted its position in shares of Republic Services by 64.1% during the 4th quarter. abrdn plc now owns 96,531 shares of the business services provider’s stock worth $15,919,000 after purchasing an additional 37,690 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Price Performance

Shares of NYSE:RSG opened at $187.08 on Friday. The company’s fifty day moving average price is $188.04 and its 200 day moving average price is $177.79. Republic Services, Inc. has a 12 month low of $140.23 and a 12 month high of $196.76. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.53 and a quick ratio of 0.53. The firm has a market capitalization of $58.92 billion, a P/E ratio of 32.82, a P/E/G ratio of 3.16 and a beta of 0.68.

Republic Services (NYSE:RSGGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The business services provider reported $1.45 EPS for the quarter, topping the consensus estimate of $1.35 by $0.10. Republic Services had a net margin of 11.81% and a return on equity of 17.56%. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same period last year, the business earned $1.24 EPS. Republic Services’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, sell-side analysts predict that Republic Services, Inc. will post 6.05 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, July 2nd will be paid a $0.535 dividend. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a $2.14 dividend on an annualized basis and a yield of 1.14%. Republic Services’s dividend payout ratio is presently 37.54%.

Analyst Ratings Changes

RSG has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Republic Services in a research report on Thursday, May 23rd. They issued a “hold” rating and a $203.00 price target for the company. Truist Financial raised their price target on shares of Republic Services from $175.00 to $192.00 and gave the company a “hold” rating in a research report on Wednesday, February 28th. Scotiabank raised their price target on shares of Republic Services from $211.00 to $213.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 1st. UBS Group raised their price target on shares of Republic Services from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Finally, Citigroup raised their price target on shares of Republic Services from $190.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Republic Services presently has an average rating of “Moderate Buy” and a consensus price target of $201.14.

View Our Latest Research Report on Republic Services

Insider Buying and Selling at Republic Services

In other news, Director Katharine Weymouth purchased 540 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were acquired at an average cost of $185.26 per share, for a total transaction of $100,040.40. Following the completion of the purchase, the director now directly owns 540 shares in the company, valued at approximately $100,040.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Republic Services news, CMO Amanda Hodges sold 6,500 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $186.02, for a total value of $1,209,130.00. Following the sale, the chief marketing officer now owns 6,831 shares of the company’s stock, valued at $1,270,702.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Katharine Weymouth purchased 540 shares of Republic Services stock in a transaction on Tuesday, June 4th. The stock was acquired at an average cost of $185.26 per share, for a total transaction of $100,040.40. Following the acquisition, the director now directly owns 540 shares of the company’s stock, valued at $100,040.40. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by company insiders.

About Republic Services

(Free Report)

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.

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Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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