Republic Services, Inc. (NYSE:RSG) Shares Acquired by Nordea Investment Management AB

Nordea Investment Management AB boosted its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 19.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,129,322 shares of the business services provider's stock after purchasing an additional 509,116 shares during the quarter. Nordea Investment Management AB owned about 1.00% of Republic Services worth $626,553,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. FSA Wealth Management LLC purchased a new position in Republic Services during the 3rd quarter worth $25,000. Wolff Wiese Magana LLC grew its holdings in shares of Republic Services by 351.6% during the third quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider's stock worth $28,000 after buying an additional 109 shares during the last quarter. Webster Bank N. A. acquired a new position in Republic Services in the 3rd quarter valued at about $31,000. Truvestments Capital LLC purchased a new stake in Republic Services during the 3rd quarter valued at approximately $34,000. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of Republic Services in the 2nd quarter valued at approximately $36,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Trading Down 0.1 %

RSG traded down $0.11 during trading on Monday, hitting $200.93. The company's stock had a trading volume of 864,173 shares, compared to its average volume of 840,358. Republic Services, Inc. has a twelve month low of $162.27 and a twelve month high of $220.58. The firm's 50 day moving average price is $208.38 and its 200-day moving average price is $203.62. 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 stock has a market cap of $62.92 billion, a PE ratio of 32.15, a PEG ratio of 3.30 and a beta of 0.73.

Republic Services (NYSE:RSG - Get Free Report) last released its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The firm had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the prior year, the business posted $1.54 earnings per share. The firm's revenue for the quarter was up 6.5% compared to the same quarter last year. On average, analysts expect that Republic Services, Inc. will post 6.25 earnings per share for the current year.

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services's dividend payout ratio is currently 37.12%.

Analysts Set New Price Targets

RSG has been the subject of several recent research reports. William Blair began coverage on Republic Services in a report on Thursday, October 3rd. They set an "outperform" rating for the company. Royal Bank of Canada raised shares of Republic Services from a "sector perform" rating to an "outperform" rating and lifted their target price for the company from $219.00 to $237.00 in a report on Monday. Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a "hold" rating to a "buy" rating and increased their price target for the stock from $219.00 to $237.00 in a report on Tuesday, December 10th. Truist Financial lifted their price objective on Republic Services from $220.00 to $244.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Finally, Oppenheimer lifted their price target on Republic Services from $219.00 to $220.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Republic Services currently has an average rating of "Moderate Buy" and an average target price of $221.12.

Insider Activity

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total value of $1,065,011.42. Following the completion of the sale, the chief financial officer now owns 6,318 shares in the company, valued at approximately $1,326,906.36. This trade represents a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Katharine Weymouth sold 1,859 shares of the company's stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total value of $400,186.93. Following the completion of the transaction, the director now owns 879 shares of the company's stock, valued at approximately $189,222.33. This represents a 67.90 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company's stock.

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.