Penobscot Investment Management Company Inc. Has $2.44 Million Stake in Republic Services, Inc. (NYSE:RSG)

Penobscot Investment Management Company Inc. increased its position in Republic Services, Inc. (NYSE:RSG) by 4.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 12,104 shares of the business services provider’s stock after acquiring an additional 470 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Republic Services were worth $2,435,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in RSG. Stifel Financial Corp raised its holdings in shares of Republic Services by 437.9% during the 3rd quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock valued at $364,449,000 after purchasing an additional 1,477,255 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Republic Services by 23.2% in the 3rd quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider’s stock worth $1,205,883,000 after purchasing an additional 1,131,850 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Republic Services during the fourth quarter worth approximately $184,827,000. Nordea Investment Management AB raised its position in shares of Republic Services by 19.4% in the fourth quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock valued at $626,553,000 after purchasing an additional 509,116 shares during the period. Finally, National Bank of Canada FI lifted its stake in shares of Republic Services by 544.7% in the third quarter. National Bank of Canada FI now owns 545,613 shares of the business services provider’s stock worth $109,580,000 after buying an additional 460,989 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Trading Up 0.8 %

Shares of RSG opened at $237.91 on Wednesday. The stock has a 50 day simple moving average of $226.10 and a 200-day simple moving average of $213.16. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04. The stock has a market cap of $74.30 billion, a PE ratio of 36.66, a PEG ratio of 3.64 and a beta of 0.73. Republic Services, Inc. has a 1 year low of $180.92 and a 1 year high of $240.95.

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 analysts’ consensus estimates 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 last year, the business earned $1.41 earnings per share. On average, sell-side analysts predict that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services’s dividend payout ratio (DPR) is currently 35.75%.

Insider Transactions at Republic Services

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction 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 transaction, the chief operating officer now owns 10,416 shares in the company, valued at approximately $2,376,931.20. The trade was a 37.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on RSG shares. Royal Bank of Canada upgraded shares of Republic Services from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $219.00 to $237.00 in a report on Monday, January 6th. UBS Group lifted their price objective on Republic Services from $212.00 to $240.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and increased their target price for the company from $219.00 to $237.00 in a research note on Tuesday, December 10th. Truist Financial reiterated a “buy” rating and set a $250.00 price target (up from $244.00) on shares of Republic Services in a report on Friday, February 14th. Finally, CIBC raised shares of Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 target price on the stock in a research report on Tuesday, March 4th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $236.88.

Republic Services 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.