OFI Invest Asset Management Makes New Investment in Republic Services, Inc. (NYSE:RSG)

OFI Invest Asset Management acquired a new stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 174,406 shares of the business services provider's stock, valued at approximately $33,884,000. OFI Invest Asset Management owned 0.06% of Republic Services at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in Republic Services by 23.2% in the 3rd quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider's stock valued at $1,205,883,000 after buying an additional 1,131,850 shares during the period. Geode Capital Management LLC raised its holdings in shares of Republic Services by 1.7% during the third quarter. Geode Capital Management LLC now owns 4,507,521 shares of the business services provider's stock worth $903,316,000 after acquiring an additional 73,207 shares in the last quarter. Nordea Investment Management AB boosted its position in Republic Services by 19.4% during the fourth quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider's stock valued at $626,553,000 after purchasing an additional 509,116 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Republic Services by 1.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,546,088 shares of the business services provider's stock valued at $509,462,000 after purchasing an additional 25,350 shares in the last quarter. Finally, Stifel Financial Corp increased its position in Republic Services by 437.9% in the 3rd quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider's stock worth $364,449,000 after purchasing an additional 1,477,255 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on RSG shares. BMO Capital Markets upgraded shares of Republic Services from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $211.00 to $238.00 in a research note on Friday, December 6th. The Goldman Sachs Group raised their target price on Republic Services from $239.00 to $265.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. Truist Financial reiterated a "buy" rating and set a $250.00 price target (up from $244.00) on shares of Republic Services in a report on Friday, February 14th. Argus set a $260.00 target price on shares of Republic Services in a research note on Tuesday, February 18th. Finally, William Blair reiterated an "outperform" rating on shares of Republic Services in a research note on Friday, February 14th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $236.88.

Insider Transactions at Republic Services

In related news, COO Gregg Brummer sold 6,293 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total value of $1,436,062.60. Following the completion of the transaction, the chief operating officer now owns 10,416 shares in the company, valued at $2,376,931.20. The trade was a 37.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.09% of the stock is owned by company insiders.

Republic Services Price Performance

Shares of NYSE:RSG traded down $1.56 on Thursday, hitting $229.08. The stock had a trading volume of 928,787 shares, compared to its average volume of 1,052,160. The company has a market capitalization of $71.54 billion, a price-to-earnings ratio of 35.30, a price-to-earnings-growth ratio of 3.64 and a beta of 0.73. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. The firm's 50 day moving average price is $220.75 and its 200-day moving average price is $211.38. Republic Services, Inc. has a twelve month low of $180.91 and a twelve month high of $240.95.

Republic Services (NYSE:RSG - Get Free Report) last announced its earnings results on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.37 by $0.21. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The company had revenue of $4.05 billion for the quarter, compared to analysts' expectations of $4.08 billion. During the same quarter in the prior year, the business earned $1.41 earnings per share. On average, equities research analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Wednesday, April 2nd. Republic Services's dividend payout ratio is presently 35.75%.

Republic Services 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.