Jennison Associates LLC Boosts Holdings in Republic Services, Inc. (NYSE:RSG)

Jennison Associates LLC lifted its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 1.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 200,756 shares of the business services provider's stock after acquiring an additional 1,924 shares during the period. Jennison Associates LLC owned 0.06% of Republic Services worth $40,388,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of RSG. Stifel Financial Corp grew its stake in shares of Republic Services by 437.9% in the 3rd quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider's stock worth $364,449,000 after acquiring an additional 1,477,255 shares in the last quarter. Wellington Management Group LLP grew its position in Republic Services by 23.2% during the third quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider's stock valued at $1,205,883,000 after buying an additional 1,131,850 shares during the period. International Assets Investment Management LLC grew its position in Republic Services by 83,671.9% during the third quarter. International Assets Investment Management LLC now owns 538,653 shares of the business services provider's stock valued at $108,183,000 after buying an additional 538,010 shares during the period. Nordea Investment Management AB grew its position in Republic Services by 19.4% during the fourth quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider's stock valued at $626,553,000 after buying an additional 509,116 shares during the period. Finally, National Bank of Canada FI grew its position in Republic Services by 544.7% during the third quarter. National Bank of Canada FI now owns 545,613 shares of the business services provider's stock valued at $109,580,000 after buying an additional 460,989 shares during the period. Institutional investors and hedge funds own 57.73% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Republic Services from a "hold" rating to a "buy" rating and increased their price target for the company from $219.00 to $237.00 in a research report on Tuesday, December 10th. Jefferies Financial Group increased their target price on shares of Republic Services from $235.00 to $244.00 and gave the stock a "buy" rating in a research report on Thursday, January 23rd. Royal Bank of Canada upgraded shares of Republic Services from a "sector perform" rating to an "outperform" rating and increased their target price for the stock from $219.00 to $237.00 in a research report on Monday, January 6th. CIBC increased their target price on shares of Republic Services from $217.00 to $227.00 and gave the stock a "neutral" rating in a research report on Wednesday, December 4th. Finally, Truist Financial increased their target price on shares of Republic Services from $220.00 to $244.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $224.38.

Insiders Place Their Bets

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

Republic Services Price Performance

RSG traded down $0.66 on Friday, reaching $220.91. The company had a trading volume of 616,541 shares, compared to its average volume of 945,565. The business has a 50 day simple moving average of $210.01 and a 200 day simple moving average of $206.26. The company has a market cap of $69.18 billion, a price-to-earnings ratio of 35.35, a P/E/G ratio of 3.24 and a beta of 0.74. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64. Republic Services, Inc. has a 52-week low of $171.06 and a 52-week high of $222.65.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Wednesday, April 2nd. Republic Services's dividend payout ratio (DPR) is presently 37.12%.

About Republic Services

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.