Sei Investments Co. Has $131.58 Million Holdings in Republic Services, Inc. (NYSE:RSG)

Sei Investments Co. reduced its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 0.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 654,038 shares of the business services provider's stock after selling 3,340 shares during the quarter. Sei Investments Co. owned approximately 0.21% of Republic Services worth $131,578,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Stifel Financial Corp boosted its stake in shares of Republic Services by 437.9% during 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 boosted its stake in shares of Republic Services by 23.2% during the 3rd quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider's stock worth $1,205,883,000 after acquiring an additional 1,131,850 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Republic Services during the 4th quarter valued at about $184,827,000. Nordea Investment Management AB raised its stake in shares of Republic Services by 19.4% in the 4th 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 holdings 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 purchasing an additional 460,989 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors.

Remove Ads

Republic Services Trading Down 0.0 %

NYSE:RSG traded down $0.00 during trading hours on Wednesday, hitting $237.79. The stock had a trading volume of 1,554,458 shares, compared to its average volume of 1,011,693. The business's 50 day moving average is $226.10 and its 200-day moving average is $213.16. The company has a market cap of $74.26 billion, a price-to-earnings ratio of 36.64, a P/E/G ratio of 3.64 and a beta of 0.73. Republic Services, Inc. has a one year low of $180.92 and a one year high of $240.95. 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 EPS for the quarter, topping 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 the consensus estimate of $4.08 billion. During the same quarter last year, the business posted $1.41 EPS. Sell-side analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Dividend Announcement

The business 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 $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services's payout ratio is currently 35.75%.

Analyst Ratings Changes

Several equities analysts recently weighed in on RSG shares. Royal Bank of Canada raised 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. Truist Financial reiterated a "buy" rating and set a $250.00 price objective (up from $244.00) on shares of Republic Services in a research note on Friday, February 14th. UBS Group lifted their target price on shares of Republic Services from $212.00 to $240.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. William Blair reissued an "outperform" rating on shares of Republic Services in a research note on Friday, February 14th. Finally, 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 note on Tuesday, March 4th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Republic Services currently has an average rating of "Moderate Buy" and a consensus price target of $236.88.

Insider Activity

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 value of $1,436,062.60. Following the completion of the transaction, the chief operating officer now directly owns 10,416 shares of the company's stock, valued at approximately $2,376,931.20. This represents a 37.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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.