Westpac Banking Corp Sells 3,232 Shares of Republic Services, Inc. (NYSE:RSG)

Westpac Banking Corp reduced its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 11.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,324 shares of the business services provider's stock after selling 3,232 shares during the period. Westpac Banking Corp's holdings in Republic Services were worth $5,095,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. OneAscent Financial Services LLC purchased a new position in shares of Republic Services in the 4th quarter valued at approximately $200,000. Huntington National Bank lifted its position in Republic Services by 5.5% during the fourth quarter. Huntington National Bank now owns 11,842 shares of the business services provider's stock valued at $2,382,000 after buying an additional 620 shares during the period. RFG Bristol Wealth Advisors LLC bought a new stake in shares of Republic Services during the 4th quarter valued at $1,271,000. Groupama Asset Managment bought a new position in shares of Republic Services in the 4th quarter worth about $2,216,000. Finally, Geode Capital Management LLC lifted its position in Republic Services by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 4,565,137 shares of the business services provider's stock valued at $918,045,000 after acquiring an additional 57,616 shares during the period. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Republic Services

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the business's stock in a transaction 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 transaction, 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 SEC, which is available at this link. Company insiders own 0.09% of the company's stock.

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Republic Services Stock Performance

NYSE:RSG traded up $1.51 during mid-day trading on Tuesday, hitting $232.44. 947,904 shares of the company traded hands, compared to its average volume of 1,106,201. The stock's fifty day moving average price is $231.01 and its 200-day moving average price is $215.46. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a one year low of $180.92 and a one year high of $249.73. The firm has a market cap of $72.59 billion, a price-to-earnings ratio of 35.77, a price-to-earnings-growth ratio of 3.64 and a beta of 0.62.

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

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be given a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $2.32 annualized dividend and a yield of 1.00%. Republic Services's dividend payout ratio is currently 35.75%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RSG. Truist Financial reiterated a "buy" rating and set a $250.00 target price (up from $244.00) on shares of Republic Services in a report on Friday, February 14th. CIBC upgraded Republic Services from a "neutral" rating to a "sector outperform" rating and set a $264.00 price objective for the company in a research note on Tuesday, March 4th. Cibc World Mkts raised Republic Services from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 4th. Royal Bank of Canada raised Republic Services from a "sector perform" rating to an "outperform" rating and lifted their price target for the stock from $219.00 to $237.00 in a research report on Monday, January 6th. Finally, William Blair restated an "outperform" rating on shares of Republic Services in a research note on Friday, February 14th. Five 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 MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $236.88.

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.