Stevens Capital Management LP Buys Shares of 1,640 Republic Services, Inc. (NYSE:RSG)

Stevens Capital Management LP acquired a new stake in Republic Services, Inc. (NYSE:RSG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,640 shares of the business services provider's stock, valued at approximately $330,000.

Several other large investors also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Republic Services by 37.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,682 shares of the business services provider's stock valued at $3,586,000 after purchasing an additional 4,827 shares in the last quarter. TCW Group Inc. raised its holdings in Republic Services by 13.0% in the third quarter. TCW Group Inc. now owns 114,582 shares of the business services provider's stock valued at $23,013,000 after acquiring an additional 13,138 shares in the last quarter. Avanza Fonder AB acquired a new position in Republic Services during the 4th quarter worth $4,430,000. Czech National Bank raised its stake in shares of Republic Services by 6.1% in the 4th quarter. Czech National Bank now owns 44,134 shares of the business services provider's stock valued at $8,879,000 after purchasing an additional 2,548 shares in the last quarter. Finally, Hickory Point Bank & Trust bought a new position in shares of Republic Services during the fourth quarter worth about $790,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Price Performance

NYSE:RSG traded down $1.40 during mid-day trading on Friday, reaching $238.37. 1,043,995 shares of the stock were exchanged, compared to its average volume of 1,082,057. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04. The business has a fifty day moving average price of $227.72 and a 200 day moving average price of $213.75. Republic Services, Inc. has a 1-year low of $180.92 and a 1-year high of $241.09. The firm has a market capitalization of $74.44 billion, a PE ratio of 36.73, a PEG ratio of 3.64 and a beta of 0.73.

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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 (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.21. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The company had revenue of $4.05 billion for the quarter, compared to analysts' expectations of $4.08 billion. During the same quarter in the previous year, the company posted $1.41 EPS. Research analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Wednesday, April 2nd. Republic Services's dividend payout ratio (DPR) is presently 35.75%.

Insider Activity

In other 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 transaction of $1,436,062.60. Following the sale, the chief operating officer now owns 10,416 shares in the company, valued at $2,376,931.20. The trade was a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Cibc World Mkts upgraded Republic Services from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 4th. Argus set a $260.00 price objective on Republic Services in a research note on Tuesday, February 18th. Truist Financial reiterated a "buy" rating and set a $250.00 target price (up previously from $244.00) on shares of Republic Services in a research note on Friday, February 14th. Morgan Stanley raised their price target on shares of Republic Services from $220.00 to $230.00 and gave the stock an "equal weight" rating in a research report on Friday, February 14th. Finally, Stifel Nicolaus boosted their price objective on shares of Republic Services from $240.00 to $257.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Republic Services has a consensus rating of "Moderate Buy" and a consensus target price of $236.88.

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.