M&G Plc Has $126.26 Million Holdings in Republic Services, Inc. (NYSE:RSG)

M&G Plc cut its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 5.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 650,799 shares of the business services provider's stock after selling 34,500 shares during the period. M&G Plc owned approximately 0.21% of Republic Services worth $126,255,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its position in Republic Services by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 18,254,878 shares of the business services provider's stock worth $3,494,714,000 after purchasing an additional 101,518 shares in the last quarter. Capital World Investors grew its holdings in shares of Republic Services by 20.5% during the first quarter. Capital World Investors now owns 7,909,008 shares of the business services provider's stock valued at $1,514,100,000 after buying an additional 1,346,588 shares in the last quarter. Norges Bank acquired a new position in Republic Services during the fourth quarter valued at $358,837,000. TD Asset Management Inc boosted its position in Republic Services by 424.7% during the 1st quarter. TD Asset Management Inc now owns 1,722,107 shares of the business services provider's stock worth $329,680,000 after acquiring an additional 1,393,918 shares during the period. Finally, Earnest Partners LLC grew its stake in Republic Services by 16.9% during the 1st quarter. Earnest Partners LLC now owns 1,262,519 shares of the business services provider's stock valued at $241,697,000 after acquiring an additional 182,645 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on RSG shares. Stifel Nicolaus raised their price target on shares of Republic Services from $215.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, July 25th. Oppenheimer lowered their price target on shares of Republic Services from $211.00 to $210.00 and set an "outperform" rating on the stock in a report on Thursday, July 25th. Truist Financial upgraded Republic Services from a "hold" rating to a "buy" rating and increased their price objective for the stock from $192.00 to $220.00 in a report on Thursday, July 11th. Scotiabank boosted their target price on Republic Services from $211.00 to $213.00 and gave the company a "sector perform" rating in a research note on Wednesday, May 1st. Finally, CIBC raised their price target on Republic Services from $196.00 to $208.00 and gave the stock a "neutral" rating in a research note on Thursday, July 25th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $211.00.

Insider Buying and Selling at Republic Services

In other news, Director Katharine Weymouth bought 540 shares of the firm's stock in a transaction that occurred on Tuesday, June 4th. The shares were acquired at an average cost of $185.26 per share, with a total value of $100,040.40. Following the completion of the transaction, the director now directly owns 540 shares in the company, valued at $100,040.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.09% of the company's stock.

Republic Services Stock Performance

Shares of Republic Services stock traded up $0.88 during trading on Tuesday, reaching $200.39. The company's stock had a trading volume of 640,046 shares, compared to its average volume of 1,227,172. Republic Services, Inc. has a one year low of $140.23 and a one year high of $206.54. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market cap of $63.11 billion, a price-to-earnings ratio of 35.16, a price-to-earnings-growth ratio of 3.16 and a beta of 0.69. The business's fifty day moving average price is $195.21 and its 200-day moving average price is $188.69.

Republic Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be paid a $0.58 dividend. This is an increase from Republic Services's previous quarterly dividend of $0.54. The ex-dividend date is Wednesday, October 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.16%. Republic Services's dividend payout ratio (DPR) is presently 40.70%.

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.