Unigestion Holding SA Increases Stake in Republic Services, Inc. (NYSE:RSG)

Unigestion Holding SA lifted its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 40.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 179,703 shares of the business services provider's stock after acquiring an additional 52,056 shares during the quarter. Republic Services makes up about 1.7% of Unigestion Holding SA's portfolio, making the stock its 20th biggest holding. Unigestion Holding SA owned 0.06% of Republic Services worth $36,088,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Wellington Management Group LLP raised its holdings in Republic Services by 23.2% in the 3rd 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 acquiring an additional 1,131,850 shares during the period. Geode Capital Management LLC raised its position in shares of Republic Services by 1.7% in the third quarter. Geode Capital Management LLC now owns 4,507,521 shares of the business services provider's stock valued at $903,316,000 after buying an additional 73,207 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Republic Services by 2.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,520,738 shares of the business services provider's stock valued at $506,265,000 after buying an additional 57,040 shares during the period. Stifel Financial Corp increased its stake in 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 during the period. Finally, Legal & General Group Plc raised its holdings in Republic Services by 5.4% in the 2nd quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider's stock valued at $351,480,000 after acquiring an additional 92,013 shares in the last quarter. Institutional investors own 57.73% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Scotiabank initiated coverage on shares of Republic Services in a report on Friday, October 4th. They issued a "sector perform" rating and a $224.00 target price on the stock. BMO Capital Markets upgraded shares of Republic Services from a "market perform" rating to an "outperform" rating and raised their price target for the company from $211.00 to $238.00 in a research note on Friday, December 6th. Truist Financial increased their price objective on Republic Services from $220.00 to $244.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft raised Republic Services from a "hold" rating to a "buy" rating and lifted their target price for the stock from $219.00 to $237.00 in a report on Tuesday. Finally, CIBC boosted their price objective on Republic Services from $217.00 to $227.00 and gave the company a "neutral" rating in a research note on Wednesday, December 4th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Republic Services presently has an average rating of "Moderate Buy" and a consensus target price of $219.88.

Insider Activity

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

Republic Services Stock Performance

Shares of NYSE RSG traded down $1.39 during mid-day trading on Wednesday, hitting $210.30. The company had a trading volume of 835,883 shares, compared to its average volume of 1,112,415. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. Republic Services, Inc. has a 1 year low of $160.65 and a 1 year high of $220.58. The company has a market capitalization of $65.86 billion, a price-to-earnings ratio of 33.90, a P/E/G ratio of 3.31 and a beta of 0.71. The stock's 50-day moving average price is $207.99 and its 200-day moving average price is $201.44.

Republic Services (NYSE:RSG - Get Free Report) last posted its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.61 by $0.20. The business had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. Republic Services's revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.54 EPS. On average, sell-side analysts forecast that Republic Services, Inc. will post 6.24 earnings per share for the current year.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a $0.58 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 annualized dividend and a yield of 1.10%. Republic Services's dividend payout ratio (DPR) is presently 37.12%.

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.