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Czech National Bank Increases Holdings in Republic Services, Inc. (NYSE:RSG)

Republic Services logo with Business Services background

Czech National Bank grew its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 6.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,134 shares of the business services provider's stock after buying an additional 2,548 shares during the quarter. Czech National Bank's holdings in Republic Services were worth $8,879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of RSG. Graypoint LLC grew its position in Republic Services by 4.7% during the fourth quarter. Graypoint LLC now owns 1,525 shares of the business services provider's stock valued at $307,000 after buying an additional 68 shares during the period. Diversified Trust Co grew its position in shares of Republic Services by 12.1% during the 4th quarter. Diversified Trust Co now owns 1,537 shares of the business services provider's stock valued at $309,000 after acquiring an additional 166 shares during the period. Canandaigua National Trust Co of Florida purchased a new stake in shares of Republic Services in the 4th quarter worth $247,000. Nordea Investment Management AB lifted 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 purchasing an additional 509,116 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Republic Services by 15.7% during the fourth quarter. GAMMA Investing LLC now owns 5,690 shares of the business services provider's stock valued at $1,145,000 after purchasing an additional 773 shares during the period. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the company'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 transaction, the chief financial officer now owns 6,318 shares of the company's stock, valued at approximately $1,326,906.36. This represents a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Katharine Weymouth sold 1,859 shares of the firm's stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total value of $400,186.93. Following the sale, the director now directly owns 879 shares of the company's stock, valued at $189,222.33. This represents a 67.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on RSG shares. Truist Financial lifted their price objective on Republic Services from $220.00 to $244.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. William Blair began coverage on shares of Republic Services in a report on Thursday, October 3rd. They set an "outperform" rating on the stock. Scotiabank assumed coverage on shares of Republic Services in a research note on Friday, October 4th. They issued a "sector perform" rating and a $224.00 price objective for the company. CIBC lifted their target price on shares of Republic Services from $217.00 to $227.00 and gave the company a "neutral" rating in a research note on Wednesday, December 4th. Finally, BMO Capital Markets upgraded Republic Services from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $211.00 to $238.00 in a research note on Friday, December 6th. Six analysts have rated the stock with a hold rating and thirteen have issued 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 target price of $221.12.

View Our Latest Stock Analysis on Republic Services

Republic Services Price Performance

Republic Services stock traded up $2.66 during mid-day trading on Wednesday, reaching $209.66. 1,207,005 shares of the company's stock traded hands, compared to its average volume of 1,046,123. Republic Services, Inc. has a 12-month low of $165.06 and a 12-month high of $220.58. The company has a market cap of $65.66 billion, a price-to-earnings ratio of 33.55, a PEG ratio of 3.30 and a beta of 0.73. The stock has a 50 day moving average of $209.10 and a two-hundred day moving average of $204.20. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, beating analysts' consensus estimates of $1.61 by $0.20. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The firm had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter last year, the firm earned $1.54 EPS. The firm's revenue for the quarter was up 6.5% compared to the same quarter last year. Equities analysts forecast that Republic Services, Inc. will post 6.25 earnings per share for the current year.

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a dividend of $0.58 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 annualized dividend and a yield of 1.11%. Republic Services's payout ratio is presently 37.12%.

About Republic Services

(Free Report)

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.

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Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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