Cibc World Markets Corp Buys 120,446 Shares of Republic Services, Inc. (NYSE:RSG)

Cibc World Markets Corp grew its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 420.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 149,076 shares of the business services provider's stock after purchasing an additional 120,446 shares during the period. Cibc World Markets Corp's holdings in Republic Services were worth $29,991,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of RSG. Stifel Financial Corp raised its position in shares of Republic Services by 437.9% in the third quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider's stock valued at $364,449,000 after purchasing an additional 1,477,255 shares during the period. Wellington Management Group LLP raised its position in shares of Republic Services by 23.2% in 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 purchasing an additional 1,131,850 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Republic Services in the fourth quarter valued at approximately $184,827,000. Nordea Investment Management AB grew its stake 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 acquiring an additional 509,116 shares in the last quarter. Finally, National Bank of Canada FI grew its stake 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 acquiring an additional 460,989 shares in the last quarter. Institutional investors own 57.73% of the company's stock.

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Insider Activity at Republic Services

In related news, COO Gregg Brummer sold 6,293 shares of the company's stock in a transaction on 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 completion of the sale, the chief operating officer now directly owns 10,416 shares in the company, valued at $2,376,931.20. This represents a 37.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.09% of the stock is currently owned by company insiders.

Republic Services Trading Up 0.1 %

Shares of RSG traded up $0.23 during mid-day trading on Thursday, reaching $234.79. The company's stock had a trading volume of 957,670 shares, compared to its average volume of 1,014,449. The stock has a market cap of $73.32 billion, a PE ratio of 36.18, a P/E/G ratio of 3.64 and a beta of 0.73. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a 52 week low of $180.92 and a 52 week high of $240.95. The company's fifty day moving average price is $223.82 and its two-hundred day moving average price is $212.29.

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

Republic Services Announces Dividend

The company 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 of this dividend is Wednesday, April 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 0.99%. Republic Services's dividend payout ratio is currently 35.75%.

Analysts Set New Price Targets

Several brokerages recently commented on RSG. BMO Capital Markets raised shares of Republic Services from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $211.00 to $238.00 in a research note on Friday, December 6th. Truist Financial reaffirmed a "buy" rating and set a $250.00 price objective (up previously from $244.00) on shares of Republic Services in a research note on Friday, February 14th. William Blair reaffirmed an "outperform" rating on shares of Republic Services in a research note on Friday, February 14th. Cibc World Mkts raised shares of Republic Services from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 4th. Finally, Royal Bank of Canada raised shares of Republic Services from a "sector perform" rating to an "outperform" rating and boosted their price objective for the company from $219.00 to $237.00 in a research note on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $236.88.

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.