SBI Securities Co. Ltd. Makes New $240,000 Investment in Republic Services, Inc. (NYSE:RSG)

SBI Securities Co. Ltd. purchased a new position in shares of Republic Services, Inc. (NYSE:RSG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,191 shares of the business services provider’s stock, valued at approximately $240,000.

A number of other large investors also recently made changes to their positions in RSG. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Republic Services by 37.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,682 shares of the business services provider’s stock worth $3,586,000 after buying an additional 4,827 shares during the last quarter. TCW Group Inc. increased its holdings in shares of Republic Services by 13.0% during the 3rd quarter. TCW Group Inc. now owns 114,582 shares of the business services provider’s stock worth $23,013,000 after buying an additional 13,138 shares during the last quarter. Avanza Fonder AB acquired a new stake in shares of Republic Services during the 4th quarter worth $4,430,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Republic Services during the 3rd quarter worth $6,102,000. Finally, Lifeworks Advisors LLC increased its holdings in shares of Republic Services by 1,112.3% during the 3rd quarter. Lifeworks Advisors LLC now owns 21,469 shares of the business services provider’s stock worth $4,312,000 after buying an additional 19,698 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RSG. The Goldman Sachs Group increased their price target on Republic Services from $239.00 to $265.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Truist Financial reiterated a “buy” rating and issued a $250.00 price target (up from $244.00) on shares of Republic Services in a report on Friday, February 14th. Argus set a $260.00 price target on Republic Services in a report on Tuesday, February 18th. CIBC upgraded Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 price target for the company in a report on Tuesday. Finally, Stifel Nicolaus increased their price target on Republic Services from $240.00 to $257.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $236.88.

Republic Services Stock Performance

Shares of RSG stock opened at $235.66 on Thursday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. Republic Services, Inc. has a one year low of $180.91 and a one year high of $240.95. The company’s 50-day simple moving average is $217.74 and its 200-day simple moving average is $210.45. The stock has a market capitalization of $73.59 billion, a price-to-earnings ratio of 36.31, a PEG ratio of 3.64 and a beta of 0.74.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.37 by $0.21. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The business had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter last year, the company posted $1.41 earnings per share. Equities analysts anticipate that Republic Services, Inc. will post 6.86 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 Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $2.32 annualized dividend and a dividend yield of 0.98%. Republic Services’s payout ratio is 35.75%.

Insiders Place Their Bets

In other news, COO Gregg Brummer sold 6,293 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the sale, the chief operating officer now directly owns 10,416 shares in the company, valued at approximately $2,376,931.20. This represents a 37.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.