Republic Services, Inc. (NYSE:RSG) Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. lessened its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 78.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,200 shares of the business services provider's stock after selling 8,218 shares during the quarter. iA Global Asset Management Inc.'s holdings in Republic Services were worth $443,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of RSG. McGlone Suttner Wealth Management Inc. grew its position in shares of Republic Services by 2.2% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 2,213 shares of the business services provider's stock valued at $445,000 after buying an additional 48 shares during the last quarter. Access Financial Services Inc. raised its position in shares of Republic Services by 0.8% during the 4th quarter. Access Financial Services Inc. now owns 6,178 shares of the business services provider's stock worth $1,243,000 after purchasing an additional 51 shares during the period. Hantz Financial Services Inc. lifted its stake in Republic Services by 1.0% in the third quarter. Hantz Financial Services Inc. now owns 5,099 shares of the business services provider's stock valued at $1,024,000 after buying an additional 52 shares during the last quarter. Tower Wealth Partners Inc. grew its position 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 acquiring an additional 54 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in shares of Republic Services by 11.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 529 shares of the business services provider's stock worth $106,000 after acquiring an additional 55 shares during the period. 57.73% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on RSG shares. Truist Financial reaffirmed a "buy" rating and set a $250.00 price target (up previously from $244.00) on shares of Republic Services in a report on Friday, February 14th. BMO Capital Markets upgraded shares of Republic Services from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $211.00 to $238.00 in a research report on Friday, December 6th. William Blair reiterated an "outperform" rating on shares of Republic Services in a report on Friday, February 14th. Royal Bank of Canada upgraded shares of Republic Services from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from $219.00 to $237.00 in a report on Monday, January 6th. Finally, Jefferies Financial Group upped their target price on Republic Services from $235.00 to $244.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $236.88.

Insider Transactions at Republic Services

In related news, COO Gregg Brummer sold 6,293 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total value of $1,436,062.60. Following the completion of the transaction, the chief operating officer now owns 10,416 shares of the company's stock, valued at $2,376,931.20. The trade was a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.09% of the company's stock.

Republic Services Stock Up 0.9 %

Shares of RSG traded up $2.23 during mid-day trading on Thursday, reaching $239.98. The company had a trading volume of 1,256,528 shares, compared to its average volume of 1,010,326. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. The company has a market capitalization of $74.94 billion, a price-to-earnings ratio of 36.98, a price-to-earnings-growth ratio of 3.64 and a beta of 0.73. Republic Services, Inc. has a 52 week low of $180.92 and a 52 week high of $240.97. The firm has a 50-day moving average price of $226.67 and a 200 day moving average price of $213.33.

Republic Services (NYSE:RSG - Get Free Report) last released its earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.21. The company 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 prior year, the firm posted $1.41 EPS. On average, sell-side analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be paid 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 dividend yield of 0.97%. Republic Services's dividend payout ratio is 35.75%.

Republic Services 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.