Fmr LLC Has $369.46 Million Position in Republic Services, Inc. (NYSE:RSG)

FMR LLC trimmed its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 4.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,839,572 shares of the business services provider's stock after selling 84,061 shares during the period. FMR LLC owned 0.59% of Republic Services worth $369,460,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RSG. Bank of Montreal Can grew its holdings in Republic Services by 3.0% during the third quarter. Bank of Montreal Can now owns 391,857 shares of the business services provider's stock valued at $78,128,000 after purchasing an additional 11,569 shares during the period. Truvestments Capital LLC acquired a new stake in Republic Services during the 3rd quarter worth $34,000. DRW Securities LLC acquired a new position in Republic Services in the third quarter valued at about $399,000. Prosperity Financial Group Inc. lifted its holdings in shares of Republic Services by 8.1% during the 3rd quarter. Prosperity Financial Group Inc. now owns 3,538 shares of the business services provider's stock valued at $711,000 after purchasing an additional 264 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in Republic Services by 11.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 26,310 shares of the business services provider's stock worth $5,284,000 after purchasing an additional 2,786 shares in the last quarter. 57.73% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the business's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the sale, the chief financial officer now directly owns 6,318 shares in the company, valued at approximately $1,326,906.36. The trade was a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Republic Services Price Performance

Shares of RSG stock traded up $0.02 on Friday, hitting $218.30. 631,459 shares of the company's stock were exchanged, compared to its average volume of 960,102. Republic Services, Inc. has a 12 month low of $159.38 and a 12 month high of $220.58. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64. The company has a 50 day moving average of $206.22 and a 200 day moving average of $200.08. The stock has a market cap of $68.36 billion, a P/E ratio of 34.93, a price-to-earnings-growth ratio of 3.34 and a beta of 0.70.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.61 by $0.20. The company had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The firm's quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company posted $1.54 EPS. On average, equities research analysts predict that Republic Services, Inc. will post 6.24 EPS for the current year.

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services's payout ratio is 37.12%.

Analysts Set New Price Targets

Several analysts have issued reports on RSG shares. Royal Bank of Canada lifted their price target on Republic Services from $211.00 to $219.00 and gave the company a "sector perform" rating in a research note on Wednesday, October 30th. Oppenheimer lifted their price objective on shares of Republic Services from $219.00 to $220.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. CIBC increased their target price on shares of Republic Services from $208.00 to $217.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. TD Cowen lifted their price target on shares of Republic Services from $195.00 to $200.00 and gave the company a "hold" rating in a research note on Monday, August 5th. Finally, Truist Financial increased their price objective on shares of Republic Services from $220.00 to $244.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Republic Services presently has an average rating of "Moderate Buy" and an average price target of $215.71.

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.