State Street Corp Cuts Stake in Republic Services, Inc. (NYSE:RSG)

State Street Corp lessened its stake in Republic Services, Inc. (NYSE:RSG) by 0.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,391,409 shares of the business services provider’s stock after selling 6,804 shares during the quarter. State Street Corp owned 3.00% of Republic Services worth $1,886,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. CWM LLC increased its holdings in shares of Republic Services by 8.2% in the 2nd quarter. CWM LLC now owns 9,131 shares of the business services provider’s stock worth $1,774,000 after purchasing an additional 693 shares in the last quarter. QRG Capital Management Inc. raised its position in Republic Services by 1.1% in the 2nd quarter. QRG Capital Management Inc. now owns 20,124 shares of the business services provider’s stock worth $3,911,000 after buying an additional 224 shares during the last quarter. Gateway Investment Advisers LLC lifted its stake in Republic Services by 16.1% during the 2nd quarter. Gateway Investment Advisers LLC now owns 4,250 shares of the business services provider’s stock valued at $826,000 after acquiring an additional 590 shares during the period. Peak Financial Advisors LLC bought a new stake in shares of Republic Services in the second quarter worth approximately $2,943,000. Finally, Czech National Bank raised its holdings in shares of Republic Services by 8.4% during the second quarter. Czech National Bank now owns 39,008 shares of the business services provider’s stock valued at $7,581,000 after purchasing an additional 3,024 shares during the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Republic Services

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total value of $1,065,011.42. Following the sale, the chief financial officer now owns 6,318 shares in the company, valued at approximately $1,326,906.36. The trade was a 44.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.09% of the company’s stock.

Republic Services Price Performance

Shares of Republic Services stock opened at $216.70 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. Republic Services, Inc. has a 52 week low of $160.41 and a 52 week high of $220.58. The stock’s 50-day simple moving average is $207.21 and its 200-day simple moving average is $200.67. The company has a market capitalization of $67.86 billion, a price-to-earnings ratio of 34.67, a PEG ratio of 3.29 and a beta of 0.71.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.20. The business had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.54 EPS. As a group, analysts expect that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a $0.58 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 1.07%. Republic Services’s dividend payout ratio is currently 37.12%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on RSG shares. CIBC raised their target price on shares of Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a report on Wednesday. Morgan Stanley lifted their price objective on Republic Services from $208.00 to $217.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Scotiabank initiated coverage on Republic Services in a report on Friday, October 4th. They issued a “sector perform” rating and a $224.00 target price on the stock. Truist Financial upped their price target on shares of Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, William Blair initiated coverage on shares of Republic Services in a report on Thursday, October 3rd. They issued an “outperform” rating on the stock. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $217.88.

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.