Zacks Investment Management Trims Stake in Republic Services, Inc. (NYSE:RSG)

Zacks Investment Management trimmed its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 12.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 177,322 shares of the business services provider's stock after selling 24,079 shares during the period. Zacks Investment Management owned 0.06% of Republic Services worth $35,674,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in Republic Services during the 4th quarter worth $553,039,000. Raymond James Financial Inc. bought a new position in Republic Services during the 4th quarter worth approximately $184,827,000. Nordea Investment Management AB lifted its position 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 worth $626,553,000 after purchasing an additional 509,116 shares during the period. Pictet Asset Management Holding SA boosted its stake in shares of Republic Services by 3.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 6,262,325 shares of the business services provider's stock valued at $1,259,855,000 after purchasing an additional 218,729 shares during the last quarter. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in shares of Republic Services during the fourth quarter worth $38,098,000. Institutional investors own 57.73% of the company's stock.

Insider Buying and Selling

In other news, COO Gregg Brummer sold 6,293 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total value of $1,436,062.60. Following the sale, the chief operating officer now directly owns 10,416 shares in the company, valued at approximately $2,376,931.20. This represents a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.09% of the stock is owned by corporate insiders.

Republic Services Price Performance

Shares of Republic Services stock traded down $0.51 during trading hours on Friday, reaching $243.11. The company's stock had a trading volume of 837,780 shares, compared to its average volume of 1,114,579. The firm has a 50 day moving average price of $235.49 and a 200-day moving average price of $218.06. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64. The stock has a market cap of $75.92 billion, a P/E ratio of 37.46, a P/E/G ratio of 3.64 and a beta of 0.62. Republic Services, Inc. has a one year low of $180.92 and a one year high of $249.73.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.37 by $0.21. The business had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. During the same period in the prior year, the business posted $1.41 earnings per share. On average, analysts predict that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd were issued a $0.58 dividend. The ex-dividend date was Wednesday, April 2nd. This represents a $2.32 annualized dividend and a dividend yield of 0.95%. Republic Services's dividend payout ratio (DPR) is presently 35.75%.

Analyst Ratings Changes

A number of research firms have issued reports on RSG. Jefferies Financial Group increased their price target on Republic Services from $235.00 to $244.00 and gave the stock a "buy" rating in a report on Thursday, January 23rd. The Goldman Sachs Group raised their price objective on Republic Services from $239.00 to $265.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. Royal Bank of Canada upgraded Republic Services from a "sector perform" rating to an "outperform" rating and increased their target price for the stock from $219.00 to $237.00 in a report on Monday, January 6th. Truist Financial restated a "buy" rating and set a $250.00 price target (up previously from $244.00) on shares of Republic Services in a research note on Friday, February 14th. Finally, Scotiabank raised their price objective on shares of Republic Services from $233.00 to $250.00 and gave the company a "sector perform" rating in a research note on Tuesday, April 8th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Republic Services currently has a consensus rating of "Moderate Buy" and a consensus target price of $239.13.

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.