Republic Services, Inc. (NYSE:RSG) Shares Purchased by Cibc World Markets Corp

Cibc World Markets Corp boosted its stake in Republic Services, Inc. (NYSE:RSG) by 420.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 149,076 shares of the business services provider’s stock after acquiring an additional 120,446 shares during the quarter. Cibc World Markets Corp’s holdings in Republic Services were worth $29,991,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. SlateStone Wealth LLC grew its stake in Republic Services by 44.2% in the 4th quarter. SlateStone Wealth LLC now owns 6,525 shares of the business services provider’s stock valued at $1,313,000 after acquiring an additional 2,000 shares during the period. GWN Securities Inc. acquired a new stake in Republic Services in the 4th quarter valued at $993,000. Envestnet Portfolio Solutions Inc. grew its stake in Republic Services by 3.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 62,190 shares of the business services provider’s stock valued at $12,511,000 after acquiring an additional 2,350 shares during the period. Avalon Trust Co acquired a new stake in Republic Services in the 4th quarter valued at $80,000. Finally, Choate Investment Advisors lifted its holdings in Republic Services by 8.6% in the 4th quarter. Choate Investment Advisors now owns 3,150 shares of the business services provider’s stock valued at $634,000 after purchasing an additional 250 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Wall Street Analyst Weigh In

RSG has been the topic of a number of research reports. Royal Bank of Canada upgraded Republic Services from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $219.00 to $237.00 in a report on Monday, January 6th. BMO Capital Markets upgraded Republic Services from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $211.00 to $238.00 in a report on Friday, December 6th. Truist Financial restated a “buy” rating and issued a $250.00 price objective (up previously from $244.00) on shares of Republic Services in a report on Friday, February 14th. Cibc World Mkts upgraded Republic Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 4th. Finally, The Goldman Sachs Group raised their price objective on Republic Services from $239.00 to $265.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $236.88.

Republic Services Stock Up 1.2 %

Shares of RSG opened at $232.08 on Monday. The firm has a market cap of $72.48 billion, a P/E ratio of 35.76, a price-to-earnings-growth ratio of 3.64 and a beta of 0.73. Republic Services, Inc. has a 12-month low of $180.91 and a 12-month high of $240.95. The company’s 50-day moving average price is $221.95 and its 200 day moving average price is $211.74. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.21. The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.08 billion. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. During the same period in the previous year, the firm earned $1.41 EPS. On average, sell-side analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services’s dividend payout ratio is currently 35.75%.

Insider Buying and Selling at Republic Services

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction dated 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 transaction, the chief operating officer now directly owns 10,416 shares of the company’s stock, valued at $2,376,931.20. The trade was a 37.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.09% of the stock is currently owned by corporate insiders.

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.