Renaissance Technologies LLC Trims Holdings in Republic Services, Inc. (NYSE:RSG)

Renaissance Technologies LLC decreased its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 41.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 304,361 shares of the business services provider's stock after selling 216,500 shares during the quarter. Renaissance Technologies LLC owned approximately 0.10% of Republic Services worth $61,231,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RSG. McGlone Suttner Wealth Management Inc. grew its position in shares of Republic Services by 2.2% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 2,213 shares of the business services provider's stock valued at $445,000 after purchasing an additional 48 shares during the last quarter. Access Financial Services Inc. lifted its holdings in shares of Republic Services by 0.8% during the fourth quarter. Access Financial Services Inc. now owns 6,178 shares of the business services provider's stock worth $1,243,000 after buying an additional 51 shares in the last quarter. Tower Wealth Partners Inc. increased its holdings in shares of Republic Services by 3.3% during the fourth quarter. Tower Wealth Partners Inc. now owns 1,697 shares of the business services provider's stock worth $341,000 after purchasing an additional 54 shares during the period. Umpqua Bank boosted its stake in shares of Republic Services by 3.2% in the fourth quarter. Umpqua Bank now owns 1,808 shares of the business services provider's stock valued at $374,000 after buying an additional 56 shares during the period. Finally, Fidelis Capital Partners LLC grew its position in Republic Services by 3.9% during the fourth quarter. Fidelis Capital Partners LLC now owns 1,579 shares of the business services provider's stock worth $349,000 after buying an additional 59 shares in the last quarter. 57.73% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

A number of analysts have recently weighed in on RSG shares. CIBC upgraded Republic Services from a "neutral" rating to a "sector outperform" rating and set a $264.00 target price for the company in a research report on Tuesday, March 4th. Royal Bank of Canada upgraded Republic Services from a "sector perform" rating to an "outperform" rating and boosted their price objective for the stock from $219.00 to $237.00 in a research report on Monday, January 6th. William Blair reiterated an "outperform" rating on shares of Republic Services in a report on Friday, February 14th. Truist Financial reissued a "buy" rating and set a $250.00 target price (up previously from $244.00) on shares of Republic Services in a research report on Friday, February 14th. Finally, Morgan Stanley increased their price objective on shares of Republic Services from $220.00 to $230.00 and gave the stock an "equal weight" rating in a research report on Friday, February 14th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Republic Services has an average rating of "Moderate Buy" and an average target price of $239.13.

Republic Services Stock Down 0.3 %

Shares of Republic Services stock traded down $0.65 during trading hours on Tuesday, reaching $244.91. The company's stock had a trading volume of 351,193 shares, compared to its average volume of 1,116,158. The company has a market capitalization of $76.48 billion, a P/E ratio of 37.74, a P/E/G ratio of 3.64 and a beta of 0.62. The stock's fifty day simple moving average is $233.74 and its two-hundred day simple moving average is $217.10. Republic Services, Inc. has a one year low of $180.92 and a one year high of $249.73. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.21. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The business had revenue of $4.05 billion for the quarter, compared to analysts' expectations of $4.08 billion. During the same period last year, the business earned $1.41 EPS. On average, research analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be issued a dividend of $0.58 per share. The ex-dividend date is Wednesday, April 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 0.95%. Republic Services's dividend payout ratio (DPR) is currently 35.75%.

Insider Buying and Selling at Republic Services

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the sale, the chief operating officer now directly owns 10,416 shares of the company's stock, valued at $2,376,931.20. This represents a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.09% of the company's stock.

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.