Davis Capital Management Has $2.17 Million Holdings in Republic Services, Inc. (NYSE:RSG)

Davis Capital Management lessened its holdings in shares of Republic Services, Inc. (NYSE:RSGFree Report) by 2.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 11,408 shares of the business services provider’s stock after selling 333 shares during the period. Republic Services accounts for about 1.9% of Davis Capital Management’s portfolio, making the stock its 9th largest position. Davis Capital Management’s holdings in Republic Services were worth $2,166,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RSG. Capital World Investors increased its position in Republic Services by 416.9% in the fourth quarter. Capital World Investors now owns 6,562,420 shares of the business services provider’s stock worth $1,082,209,000 after purchasing an additional 5,292,862 shares during the period. Norges Bank bought a new stake in shares of Republic Services during the 4th quarter valued at $358,837,000. Magellan Asset Management Ltd boosted its position in shares of Republic Services by 1,497,159.0% in the 3rd quarter. Magellan Asset Management Ltd now owns 913,328 shares of the business services provider’s stock worth $130,158,000 after purchasing an additional 913,267 shares during the last quarter. FMR LLC grew its stake in shares of Republic Services by 34.4% during the third quarter. FMR LLC now owns 2,202,405 shares of the business services provider’s stock worth $313,865,000 after purchasing an additional 563,761 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new stake in Republic Services in the fourth quarter valued at about $77,417,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on RSG shares. Deutsche Bank Aktiengesellschaft started coverage on Republic Services in a research report on Thursday, May 23rd. They set a “hold” rating and a $203.00 target price for the company. Scotiabank increased their price objective on shares of Republic Services from $211.00 to $213.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 1st. Truist Financial upped their price target on Republic Services from $175.00 to $192.00 and gave the stock a “hold” rating in a research report on Wednesday, February 28th. Royal Bank of Canada assumed coverage on shares of Republic Services in a report on Monday, April 8th. They issued a “sector perform” rating and a $198.00 price objective on the stock. Finally, Jefferies Financial Group raised their target price on shares of Republic Services from $213.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Republic Services currently has an average rating of “Moderate Buy” and a consensus price target of $201.14.

Get Our Latest Report on RSG

Republic Services Stock Performance

Shares of NYSE:RSG traded up $0.16 on Wednesday, reaching $191.85. 771,755 shares of the company’s stock were exchanged, compared to its average volume of 931,796. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.05. Republic Services, Inc. has a twelve month low of $140.23 and a twelve month high of $196.76. The company has a fifty day moving average of $187.96 and a 200-day moving average of $179.61. The company has a market capitalization of $60.42 billion, a price-to-earnings ratio of 33.66, a PEG ratio of 3.22 and a beta of 0.68.

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

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, July 2nd will be given a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Tuesday, July 2nd. Republic Services’s payout ratio is presently 37.54%.

Insiders Place Their Bets

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

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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