Republic Services, Inc. (NYSE:RSG) Position Lessened by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd reduced its position in Republic Services, Inc. (NYSE:RSG) by 21.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,317 shares of the business services provider’s stock after selling 22,729 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Republic Services were worth $16,934,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its position in shares of Republic Services by 2.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,520,738 shares of the business services provider’s stock valued at $506,265,000 after purchasing an additional 57,040 shares during the period. Legal & General Group Plc grew its position in shares of Republic Services by 5.4% in the second quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider’s stock valued at $351,480,000 after purchasing an additional 92,013 shares during the last quarter. TD Asset Management Inc increased its stake in shares of Republic Services by 2.1% in the second quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider’s stock worth $341,602,000 after purchasing an additional 35,650 shares during the period. Bank of New York Mellon Corp boosted its stake in Republic Services by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,476,116 shares of the business services provider’s stock valued at $286,868,000 after purchasing an additional 3,809 shares during the period. Finally, Earnest Partners LLC grew its position in Republic Services by 1.9% in the 2nd quarter. Earnest Partners LLC now owns 1,286,053 shares of the business services provider’s stock worth $249,932,000 after purchasing an additional 23,534 shares during the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Stock Performance

Shares of Republic Services stock opened at $217.83 on Tuesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a market cap of $68.21 billion, a price-to-earnings ratio of 34.85, a price-to-earnings-growth ratio of 3.31 and a beta of 0.70. Republic Services, Inc. has a one year low of $159.10 and a one year high of $218.90. The stock’s 50-day moving average is $204.81 and its 200-day moving average is $199.22.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.61 by $0.20. The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.54 EPS. Equities analysts predict 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 given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Thursday, January 2nd. Republic Services’s dividend payout ratio (DPR) is 37.12%.

Insider Activity

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the company’s stock in a transaction dated 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 directly owns 6,318 shares of the company’s stock, valued at approximately $1,326,906.36. This represents a 44.53 % 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 insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on RSG shares. StockNews.com cut shares of Republic Services from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Morgan Stanley lifted their price objective on Republic Services from $208.00 to $217.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Truist Financial raised their target price on Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Royal Bank of Canada lifted their price target on shares of Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Finally, CIBC boosted their target price on Republic Services from $208.00 to $217.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $215.71.

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.