Republic Services, Inc. (NYSE:RSG) Shares Sold by abrdn plc

abrdn plc decreased its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 10.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,455 shares of the business services provider's stock after selling 6,161 shares during the quarter. abrdn plc's holdings in Republic Services were worth $10,065,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Wolff Wiese Magana LLC boosted its stake in shares of Republic Services by 351.6% in the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider's stock valued at $28,000 after purchasing an additional 109 shares during the last quarter. EntryPoint Capital LLC acquired a new position in Republic Services during the first quarter worth $29,000. Webster Bank N. A. purchased a new stake in shares of Republic Services in the third quarter valued at about $31,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Republic Services in the second quarter valued at about $36,000. Finally, Indiana Trust & Investment Management CO purchased a new stake in shares of Republic Services in the second quarter valued at about $45,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Republic Services

In other news, Director Tomago Collins sold 3,200 shares of Republic Services stock in a transaction on 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 directly 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 Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on RSG shares. Royal Bank of Canada increased their price target on shares of Republic Services from $211.00 to $219.00 and gave the company a "sector perform" rating in a research report on Wednesday. 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 research report on Wednesday. Robert W. Baird raised their price objective on shares of Republic Services from $208.00 to $210.00 and gave the company a "neutral" rating in a research report on Thursday, July 25th. Morgan Stanley raised their price objective on shares of Republic Services from $208.00 to $217.00 and gave the company an "equal weight" rating in a research report on Wednesday. Finally, StockNews.com lowered shares of Republic Services from a "strong-buy" rating to a "buy" rating in a research report on Thursday, August 1st. 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.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $215.71.

Republic Services Stock Up 0.3 %

Shares of RSG traded up $0.58 during trading hours on Friday, hitting $198.58. The company had a trading volume of 1,010,806 shares, compared to its average volume of 857,084. Republic Services, Inc. has a 52-week low of $148.36 and a 52-week high of $208.69. The firm has a fifty day moving average price of $203.43 and a 200-day moving average price of $196.86. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.59 and a current ratio of 0.64. The stock has a market capitalization of $62.19 billion, a price-to-earnings ratio of 31.77, a P/E/G ratio of 3.04 and a beta of 0.70.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.61 by $0.20. The firm had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The business's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.54 EPS. On average, equities research analysts forecast that Republic Services, Inc. will post 6.23 EPS for the current fiscal year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services's dividend payout ratio (DPR) is presently 37.12%.

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.