Allspring Global Investments Holdings LLC Boosts Stake in Republic Services, Inc. (NYSE:RSG)

Allspring Global Investments Holdings LLC grew its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 2.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,520,738 shares of the business services provider's stock after buying an additional 57,040 shares during the period. Republic Services accounts for 0.8% of Allspring Global Investments Holdings LLC's portfolio, making the stock its 13th biggest position. Allspring Global Investments Holdings LLC owned approximately 0.80% of Republic Services worth $506,265,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System grew its holdings in shares of Republic Services by 8.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 239,031 shares of the business services provider's stock worth $45,760,000 after acquiring an additional 19,414 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Republic Services by 32.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,296 shares of the business services provider's stock worth $18,052,000 after purchasing an additional 23,306 shares in the last quarter. PGGM Investments lifted its position in Republic Services by 264.3% during the second quarter. PGGM Investments now owns 8,842 shares of the business services provider's stock valued at $1,718,000 after buying an additional 6,415 shares during the period. Forsta AP Fonden boosted its holdings in shares of Republic Services by 11.7% during the 1st quarter. Forsta AP Fonden now owns 45,000 shares of the business services provider's stock valued at $8,615,000 after buying an additional 4,700 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Republic Services by 0.6% in 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 acquiring an additional 101,518 shares in the last quarter. Institutional investors own 57.73% of the company's stock.

Analyst Ratings Changes

RSG has been the subject of a number of analyst reports. CIBC raised their target price on shares of Republic Services from $196.00 to $208.00 and gave the company a "neutral" rating in a research note on Thursday, July 25th. Raymond James lowered their price objective on Republic Services from $219.00 to $214.00 and set an "outperform" rating for the company in a research note on Thursday, July 25th. Truist Financial raised Republic Services from a "hold" rating to a "buy" rating and increased their target price for the stock from $192.00 to $220.00 in a research note on Thursday, July 11th. William Blair began coverage on shares of Republic Services in a research note on Thursday, October 3rd. They issued an "outperform" rating on the stock. Finally, TD Cowen raised their price objective 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. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $211.65.

Insider Buying and Selling at Republic Services

In related news, Director Tomago Collins sold 3,200 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $203.01, for a total transaction of $649,632.00. Following the completion of the sale, the director now owns 17,486 shares in the company, valued at approximately $3,549,832.86. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.09% of the company's stock.

Republic Services Stock Performance

Republic Services stock traded down $0.82 during trading on Friday, reaching $204.80. The company had a trading volume of 780,161 shares, compared to its average volume of 1,142,132. The firm has a market capitalization of $64.50 billion, a price-to-earnings ratio of 35.93, a price-to-earnings-growth ratio of 3.30 and a beta of 0.69. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.05. The firm's 50-day simple moving average is $203.92 and its 200 day simple moving average is $195.94. Republic Services, Inc. has a 52 week low of $142.65 and a 52 week high of $208.69.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.61 earnings per share for the quarter, beating analysts' consensus estimates of $1.53 by $0.08. The firm had revenue of $4.05 billion for the quarter, compared to analysts' expectations of $4.03 billion. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. Sell-side analysts forecast that Republic Services, Inc. will post 6.18 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd were paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date was Wednesday, October 2nd. This is a positive change from Republic Services's previous quarterly dividend of $0.54. Republic Services's dividend payout ratio is presently 40.70%.

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.