abrdn plc Grows Holdings in Republic Services, Inc. (NYSE:RSG)

abrdn plc increased its position in Republic Services, Inc. (NYSE:RSG) by 64.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,531 shares of the business services provider’s stock after purchasing an additional 37,690 shares during the period. abrdn plc’s holdings in Republic Services were worth $15,919,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of RSG. FinTrust Capital Advisors LLC boosted its stake in Republic Services by 56.3% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 197 shares of the business services provider’s stock worth $28,000 after purchasing an additional 71 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in Republic Services in the 4th quarter worth about $34,000. Millburn Ridgefield Corp bought a new position in Republic Services in the 3rd quarter worth about $36,000. Catalyst Capital Advisors LLC bought a new position in Republic Services in the 3rd quarter worth about $36,000. Finally, BKM Wealth Management LLC bought a new position in Republic Services during the 4th quarter valued at about $37,000. Institutional investors own 57.73% of the company’s stock.

Insider Buying and Selling

In related news, CEO Ark Jon Vander sold 5,446 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $184.10, for a total value of $1,002,608.60. Following the completion of the sale, the chief executive officer now directly owns 85,113 shares in the company, valued at $15,669,303.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.09% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Citigroup upped their target price on shares of Republic Services from $190.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Oppenheimer upped their target price on shares of Republic Services from $182.00 to $195.00 and gave the company an “outperform” rating in a research note on Wednesday, February 28th. Scotiabank assumed coverage on shares of Republic Services in a research note on Monday, April 8th. They set a “sector perform” rating and a $211.00 target price on the stock. Morgan Stanley cut shares of Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 target price on the stock. in a research note on Friday, March 15th. Finally, Wells Fargo & Company upped their price target on shares of Republic Services from $180.00 to $188.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $199.77.

Republic Services Stock Up 0.7 %

NYSE RSG opened at $191.99 on Thursday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market capitalization of $60.47 billion, a P/E ratio of 35.10, a P/E/G ratio of 3.33 and a beta of 0.68. Republic Services, Inc. has a one year low of $135.33 and a one year high of $192.99. The stock has a 50 day moving average price of $186.86 and a 200-day moving average price of $170.01.

Republic Services (NYSE:RSG) last posted its earnings results on Tuesday, February 27th. The business services provider reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.13. The firm had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.73 billion. Republic Services had a return on equity of 17.32% and a net margin of 11.57%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.13 EPS. As a group, equities analysts predict that Republic Services, Inc. will post 6.01 EPS for the current fiscal year.

Republic Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Tuesday, April 2nd were given a $0.535 dividend. The ex-dividend date was Monday, April 1st. This represents a $2.14 dividend on an annualized basis and a yield of 1.11%. Republic Services’s dividend payout ratio is presently 39.12%.

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.