Canada Pension Plan Investment Board Decreases Position in Republic Services, Inc. (NYSE:RSG)

Canada Pension Plan Investment Board lessened its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 9.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 151,484 shares of the business services provider's stock after selling 15,354 shares during the quarter. Canada Pension Plan Investment Board's holdings in Republic Services were worth $30,476,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of RSG. Arcadia Investment Management Corp MI lifted its holdings in shares of Republic Services by 200.0% in the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider's stock worth $27,000 after acquiring an additional 88 shares during the last quarter. R Squared Ltd bought a new position in shares of Republic Services during the fourth quarter valued at about $32,000. New Age Alpha Advisors LLC lifted its stake in shares of Republic Services by 70.2% in the 4th quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider's stock valued at $36,000 after acquiring an additional 73 shares during the last quarter. Generali Asset Management SPA SGR purchased a new stake in Republic Services during the 4th quarter valued at about $45,000. Finally, Bank of Jackson Hole Trust bought a new position in Republic Services during the 4th quarter worth approximately $48,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Stock Performance

NYSE RSG traded up $0.13 during trading hours on Friday, hitting $240.89. 797,713 shares of the company's stock traded hands, compared to its average volume of 1,115,837. Republic Services, Inc. has a 52 week low of $180.92 and a 52 week high of $249.73. The firm has a market capitalization of $75.23 billion, a P/E ratio of 37.10, a P/E/G ratio of 3.64 and a beta of 0.62. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04. The business's fifty day moving average price is $236.55 and its two-hundred day moving average price is $219.17.

Republic Services (NYSE:RSG - Get Free Report) last announced its earnings results on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.55 by $0.03. The company had revenue of $4.01 billion for the quarter, compared to analysts' expectations of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. Equities research analysts predict that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 2nd will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 0.96%. Republic Services's payout ratio is presently 35.75%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on RSG shares. Truist Financial increased their price target on shares of Republic Services from $250.00 to $270.00 and gave the company a "buy" rating in a research report on Tuesday. Jefferies Financial Group upped their price target on Republic Services from $235.00 to $244.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. UBS Group upped their price objective on shares of Republic Services from $240.00 to $250.00 and gave the stock a "neutral" rating in a report on Friday, April 11th. Scotiabank lifted their price target on Republic Services from $233.00 to $250.00 and gave the company a "sector perform" rating in a research report on Tuesday, April 8th. Finally, Morgan Stanley increased their price objective on Republic Services from $230.00 to $245.00 and gave the stock an "equal weight" rating in a report on Friday. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $245.38.

Insider Activity at Republic Services

In other news, COO Gregg Brummer sold 6,293 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total transaction 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. This trade represents a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.09% of the stock is owned by corporate insiders.

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.