Bessemer Group Inc. Has $2.40 Million Stock Position in Republic Services, Inc. (NYSE:RSG)

Bessemer Group Inc. reduced its position in Republic Services, Inc. (NYSE:RSG) by 62.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 9,888 shares of the business services provider’s stock after selling 16,206 shares during the period. Bessemer Group Inc.’s holdings in Republic Services were worth $2,395,000 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 the stock. Vanguard Group Inc. boosted its position in shares of Republic Services by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 18,590,728 shares of the business services provider’s stock worth $3,740,083,000 after purchasing an additional 144,719 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in shares of Republic Services by 3.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 6,262,325 shares of the business services provider’s stock worth $1,259,855,000 after purchasing an additional 218,729 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Republic Services by 10.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,317,804 shares of the business services provider’s stock worth $1,069,836,000 after purchasing an additional 499,237 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Republic Services by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 4,565,137 shares of the business services provider’s stock worth $918,045,000 after purchasing an additional 57,616 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Republic Services in the 4th quarter worth $553,039,000. 57.73% of the stock is currently owned by institutional investors.

Republic Services Price Performance

NYSE:RSG opened at $244.27 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.10. The stock’s 50 day moving average price is $248.90 and its two-hundred day moving average price is $232.16. The firm has a market capitalization of $76.34 billion, a price-to-earnings ratio of 36.84, a P/E/G ratio of 3.75 and a beta of 0.63. Republic Services, Inc. has a 12-month low of $188.82 and a 12-month high of $258.75.

Republic Services (NYSE:RSG) last announced its earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.05. The company had revenue of $4.01 billion for the quarter, compared to analyst estimates of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.88%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.45 earnings per share. On average, analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 2nd will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 0.95%. Republic Services’s dividend payout ratio (DPR) is presently 34.99%.

Wall Street Analyst Weigh In

RSG has been the subject of a number of research analyst reports. Scotiabank boosted their target price on Republic Services from $233.00 to $250.00 and gave the company a “sector perform” rating in a research note on Tuesday, April 8th. Citigroup boosted their target price on Republic Services from $265.00 to $278.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Cibc World Mkts raised Republic Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 4th. JPMorgan Chase & Co. boosted their target price on Republic Services from $229.00 to $275.00 and gave the company a “neutral” rating in a research note on Friday, May 23rd. Finally, Truist Financial upped their price objective on Republic Services from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, April 22nd. Ten investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $252.68.

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.