Van ECK Associates Corp Grows Position in Republic Services, Inc. (NYSE:RSG)

Van ECK Associates Corp boosted its stake in Republic Services, Inc. (NYSE:RSG) by 0.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 41,193 shares of the business services provider’s stock after buying an additional 94 shares during the quarter. Van ECK Associates Corp’s holdings in Republic Services were worth $8,287,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of RSG. Creative Planning raised its position in Republic Services by 8.1% in the 3rd quarter. Creative Planning now owns 31,447 shares of the business services provider’s stock valued at $6,316,000 after buying an additional 2,360 shares during the last quarter. Good Life Advisors LLC increased its position in shares of Republic Services by 12.3% during the 3rd quarter. Good Life Advisors LLC now owns 1,207 shares of the business services provider’s stock valued at $242,000 after purchasing an additional 132 shares during the last quarter. Bleakley Financial Group LLC increased its position in shares of Republic Services by 30.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 6,878 shares of the business services provider’s stock valued at $1,381,000 after purchasing an additional 1,611 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Republic Services by 5.7% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 28,962 shares of the business services provider’s stock valued at $5,817,000 after purchasing an additional 1,569 shares during the last quarter. Finally, V Square Quantitative Management LLC increased its position in shares of Republic Services by 11.3% during the 3rd quarter. V Square Quantitative Management LLC now owns 2,843 shares of the business services provider’s stock valued at $571,000 after purchasing an additional 288 shares during the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RSG shares. Oppenheimer raised their target price on Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Truist Financial reaffirmed a “buy” rating and set a $250.00 target price (up from $244.00) on shares of Republic Services in a research report on Friday. William Blair reissued an “outperform” rating on shares of Republic Services in a report on Friday. Jefferies Financial Group lifted their price objective on Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, CIBC lifted their price objective on Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $225.38.

Republic Services Stock Up 2.9 %

Shares of NYSE RSG opened at $230.98 on Monday. The company has a market cap of $72.33 billion, a P/E ratio of 36.96, a P/E/G ratio of 3.24 and a beta of 0.74. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. The business has a 50-day simple moving average of $210.94 and a two-hundred day simple moving average of $207.43. Republic Services, Inc. has a 52 week low of $177.03 and a 52 week high of $232.52.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.21. The firm had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. During the same quarter last year, the company posted $1.41 EPS. Research analysts anticipate that Republic Services, Inc. will post 6.25 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be given a dividend of $0.58 per share. The ex-dividend date is Wednesday, April 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.00%. Republic Services’s dividend payout ratio (DPR) is presently 37.12%.

Insider Activity

In related 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 transaction of $400,186.93. Following the transaction, the director now directly owns 879 shares of the company’s stock, valued at approximately $189,222.33. This trade represents a 67.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total value of $1,065,011.42. Following 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

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.