Republic Services, Inc. (NYSE:RSG) Shares Purchased by Country Trust Bank

Country Trust Bank grew its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 1,944.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 736 shares of the business services provider’s stock after purchasing an additional 700 shares during the quarter. Country Trust Bank’s holdings in Republic Services were worth $148,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. State Board of Administration of Florida Retirement System grew its stake in Republic Services by 8.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 239,031 shares of the business services provider’s stock valued at $45,760,000 after acquiring an additional 19,414 shares in the last quarter. Running Oak Capital LLC lifted its position in Republic Services by 12.3% during the first quarter. Running Oak Capital LLC now owns 59,310 shares of the business services provider’s stock worth $11,347,000 after buying an additional 6,475 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Republic Services by 32.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,296 shares of the business services provider’s stock worth $18,052,000 after buying an additional 23,306 shares during the last quarter. PGGM Investments grew its holdings in Republic Services by 264.3% in the 2nd quarter. PGGM Investments now owns 8,842 shares of the business services provider’s stock valued at $1,718,000 after buying an additional 6,415 shares in the last quarter. Finally, Forsta AP Fonden raised its holdings in shares of Republic Services by 11.7% during the 1st quarter. Forsta AP Fonden now owns 45,000 shares of the business services provider’s stock worth $8,615,000 after acquiring an additional 4,700 shares during the period. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Trading Up 1.7 %

RSG opened at $202.06 on Wednesday. The business’s 50-day simple moving average is $202.68 and its 200-day simple moving average is $195.02. The company has a market cap of $63.64 billion, a P/E ratio of 35.45, a PEG ratio of 3.21 and a beta of 0.69. Republic Services, Inc. has a one year low of $142.65 and a one year high of $208.69. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.59 and a current ratio of 0.59.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.08. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. The company had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.03 billion. As a group, equities research analysts expect that Republic Services, Inc. will post 6.18 EPS for the current fiscal year.

Republic Services Increases Dividend

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

Analyst Ratings Changes

A number of equities analysts have commented on RSG shares. Robert W. Baird lifted their target price on shares of Republic Services from $208.00 to $210.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Royal Bank of Canada raised their target price 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 upped their price target on Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a research note on Monday, August 5th. Oppenheimer reduced their price objective on shares of Republic Services from $211.00 to $210.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Finally, Truist Financial raised shares of Republic Services from a “hold” rating to a “buy” rating and increased their target price for the stock from $192.00 to $220.00 in a research note on Thursday, July 11th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $211.65.

Insider Activity

In other Republic Services news, Director Tomago Collins sold 3,200 shares of Republic Services 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 transaction, the director now owns 17,486 shares of the company’s stock, valued at $3,549,832.86. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.09% of the company’s stock.

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.