Republic Services, Inc. (NYSE:RSG) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its holdings in Republic Services, Inc. (NYSE:RSG) by 3.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,824 shares of the business services provider’s stock after selling 998 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Republic Services were worth $5,019,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Republic Services by 0.6% in the first quarter. Vanguard Group Inc. now owns 18,254,878 shares of the business services provider’s stock valued at $3,494,714,000 after acquiring an additional 101,518 shares during the last quarter. Capital World Investors grew its holdings in shares of Republic Services by 20.5% during the 1st quarter. Capital World Investors now owns 7,909,008 shares of the business services provider’s stock worth $1,514,100,000 after purchasing an additional 1,346,588 shares during the period. TD Asset Management Inc increased its position in Republic Services by 2.1% during the 2nd quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider’s stock worth $341,602,000 after purchasing an additional 35,650 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Republic Services by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 1,476,116 shares of the business services provider’s stock valued at $286,868,000 after buying an additional 3,809 shares during the period. Finally, Earnest Partners LLC lifted its position in Republic Services by 16.9% during the first quarter. Earnest Partners LLC now owns 1,262,519 shares of the business services provider’s stock valued at $241,697,000 after buying an additional 182,645 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Activity

In related news, Director Tomago Collins sold 3,200 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $203.01, for a total transaction of $649,632.00. Following the completion of the transaction, the director now owns 17,486 shares in the company, valued at approximately $3,549,832.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.09% of the company’s stock.

Republic Services Price Performance

Shares of RSG opened at $201.39 on Friday. Republic Services, Inc. has a 52 week low of $140.23 and a 52 week high of $208.69. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.05. The firm has a market cap of $63.42 billion, a price-to-earnings ratio of 35.33, a PEG ratio of 3.30 and a beta of 0.70. The stock has a 50 day moving average of $202.28 and a 200-day moving average of $193.79.

Republic Services (NYSE:RSG) last released its earnings results on Wednesday, July 24th. The business services provider reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.08. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.03 billion. As a group, analysts forecast that Republic Services, Inc. will post 6.18 EPS for the current year.

Republic Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be issued a $0.58 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 1.15%. This is a boost from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s dividend payout ratio (DPR) is currently 40.70%.

Analyst Ratings Changes

A number of equities analysts have recently commented on RSG shares. Raymond James cut their target price on shares of Republic Services from $219.00 to $214.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Royal Bank of Canada boosted their price objective on Republic Services from $201.00 to $211.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. TD Cowen raised their target price on Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a report on Monday, August 5th. Truist Financial upgraded Republic Services from a “hold” rating to a “buy” rating and upped their price target for the stock from $192.00 to $220.00 in a report on Thursday, July 11th. Finally, BMO Capital Markets lifted their price objective on shares of Republic Services from $209.00 to $211.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $211.00.

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.