NEOS Investment Management LLC Raises Position in Republic Services, Inc. (NYSE:RSG)

NEOS Investment Management LLC raised its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 29.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,823 shares of the business services provider’s stock after buying an additional 2,486 shares during the quarter. NEOS Investment Management LLC’s holdings in Republic Services were worth $2,171,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in RSG. Vanguard Group Inc. increased its position in shares of Republic Services by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 18,590,728 shares of the business services provider’s stock worth $3,740,083,000 after purchasing an additional 144,719 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of 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 buying an additional 1,131,850 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Republic Services by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,507,521 shares of the business services provider’s stock valued at $903,316,000 after buying an additional 73,207 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Republic Services by 19.4% during the 4th quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock worth $626,553,000 after acquiring an additional 509,116 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Republic Services by 1.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,546,088 shares of the business services provider’s stock valued at $509,462,000 after acquiring an additional 25,350 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on RSG shares. Stifel Nicolaus lifted their price target on Republic Services from $240.00 to $257.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Royal Bank of Canada upgraded Republic Services from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $219.00 to $237.00 in a research report on Monday, January 6th. BMO Capital Markets upgraded shares of Republic Services from a “market perform” rating to an “outperform” rating and increased their price target for the company from $211.00 to $238.00 in a research report on Friday, December 6th. Jefferies Financial Group upped their price objective on shares of Republic Services from $235.00 to $244.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Finally, CIBC upgraded 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 issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $236.88.

Republic Services Price Performance

Shares of RSG stock opened at $238.37 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. The firm has a market cap of $74.44 billion, a P/E ratio of 36.73, a P/E/G ratio of 3.64 and a beta of 0.73. The business’s 50 day moving average price is $227.72 and its 200-day moving average price is $213.75. Republic Services, Inc. has a fifty-two week low of $180.92 and a fifty-two week high of $241.09.

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 business had revenue of $4.05 billion for the quarter, compared to the consensus estimate 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, equities research analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

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 issued a dividend of $0.58 per share. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.97%. Republic Services’s dividend payout ratio (DPR) is 35.75%.

Insider Transactions at Republic Services

In related news, COO Gregg Brummer sold 6,293 shares of the company’s 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 sale, the chief operating officer now directly owns 10,416 shares of the company’s stock, valued at $2,376,931.20. This represents a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate 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.