Republic Services, Inc. (NYSE:RSG) Stock Position Lifted by DnB Asset Management AS

DnB Asset Management AS raised its position in shares of Republic Services, Inc. (NYSE:RSG) by 65.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,931 shares of the business services provider’s stock after purchasing an additional 28,764 shares during the period. DnB Asset Management AS’s holdings in Republic Services were worth $14,672,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. FSA Wealth Management LLC bought a new stake in shares of Republic Services during the 3rd quarter worth about $25,000. Arcadia Investment Management Corp MI boosted its holdings in Republic Services by 200.0% during the fourth quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 88 shares during the period. R Squared Ltd bought a new position in shares of Republic Services in the fourth quarter worth about $32,000. New Age Alpha Advisors LLC increased its position in Republic Services by 70.2% in the 4th quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider’s stock worth $36,000 after buying an additional 73 shares during the period. Finally, Generali Asset Management SPA SGR acquired a new position in shares of Republic Services during the fourth quarter worth approximately $45,000. Institutional investors own 57.73% of the company’s stock.

Insider Activity at Republic Services

In other Republic Services 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 completion of the sale, the chief operating officer now owns 10,416 shares in the company, valued at approximately $2,376,931.20. This trade represents a 37.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.09% of the stock is owned by insiders.

Republic Services Price Performance

RSG opened at $238.37 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. The firm has a market cap of $74.44 billion, a P/E ratio of 36.73, a PEG ratio of 3.64 and a beta of 0.73. Republic Services, Inc. has a fifty-two week low of $180.92 and a fifty-two week high of $241.09. The firm has a 50-day moving average of $227.72 and a 200 day moving average of $213.75.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.21. The company had revenue of $4.05 billion during the quarter, compared to analysts’ expectations 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 previous year, the business earned $1.41 earnings per share. On average, research analysts expect 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 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 is Wednesday, April 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 0.97%. Republic Services’s payout ratio is 35.75%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. CIBC raised shares of Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 price target for the company in a research report on Tuesday, March 4th. Truist Financial reiterated a “buy” rating and set a $250.00 target price (up from $244.00) on shares of Republic Services in a research report on Friday, February 14th. Royal Bank of Canada upgraded Republic Services from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $219.00 to $237.00 in a research report on Monday, January 6th. Stifel Nicolaus upped their target price 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. Finally, Jefferies Financial Group lifted their price objective on shares of Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $236.88.

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.