Keybank National Association OH Reduces Holdings in Republic Services, Inc. (NYSE:RSG)

Keybank National Association OH trimmed its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 466,899 shares of the business services provider's stock after selling 5,693 shares during the period. Keybank National Association OH owned about 0.15% of Republic Services worth $93,931,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in shares of 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 purchasing an additional 1,131,850 shares during the last quarter. Geode Capital Management LLC grew its stake 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 purchasing an additional 73,207 shares in the last quarter. Nordea Investment Management AB increased its holdings in Republic Services by 19.4% in 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 buying an additional 509,116 shares during the last quarter. Allspring Global Investments Holdings LLC raised 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 buying an additional 25,350 shares in the last quarter. Finally, Stifel Financial Corp lifted its holdings in Republic Services by 437.9% during the 3rd quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider's stock worth $364,449,000 after buying an additional 1,477,255 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on RSG. Morgan Stanley raised their target price on Republic Services from $220.00 to $230.00 and gave the stock an "equal weight" rating in a research report on Friday, February 14th. Stifel Nicolaus raised their price objective on shares of Republic Services from $240.00 to $257.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. The Goldman Sachs Group upped their target price on shares of Republic Services from $239.00 to $265.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. Argus set a $260.00 price target on shares of Republic Services in a research note on Tuesday, February 18th. Finally, Truist Financial restated a "buy" rating and issued a $250.00 price objective (up previously from $244.00) on shares of Republic Services in a research note on Friday, February 14th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $236.88.

Republic Services Stock Performance

Shares of Republic Services stock traded down $0.29 during trading hours on Wednesday, hitting $235.66. 1,256,121 shares of the company were exchanged, compared to its average volume of 1,036,768. The business has a 50-day moving average of $217.11 and a 200-day moving average of $210.28. Republic Services, Inc. has a 1 year low of $180.91 and a 1 year high of $240.95. 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 stock has a market capitalization of $73.59 billion, a price-to-earnings ratio of 36.31, a P/E/G ratio of 3.64 and a beta of 0.74.

Republic Services (NYSE:RSG - Get Free Report) last released 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 net margin of 12.74% and a return on equity of 18.28%. The company had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $4.08 billion. During the same quarter last year, the business earned $1.41 EPS. As a group, analysts expect that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Wednesday, April 2nd. Republic Services's dividend payout ratio (DPR) is 35.75%.

Insider Activity

In related news, COO Gregg Brummer sold 6,293 shares of the firm's stock in a transaction dated 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 sale, 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 Securities & Exchange Commission, which is available at this link. Also, Director Katharine Weymouth sold 1,859 shares of the business'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 sale, the director now directly owns 879 shares in the company, valued at approximately $189,222.33. This represents a 67.90 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.09% of the company's stock.

About Republic Services

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.