abrdn plc Sells 3,334 Shares of Republic Services, Inc. (NYSE:RSG)

abrdn plc reduced its position in shares of Republic Services, Inc. (NYSE:RSG) by 6.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 47,121 shares of the business services provider’s stock after selling 3,334 shares during the quarter. abrdn plc’s holdings in Republic Services were worth $9,432,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. McGlone Suttner Wealth Management Inc. raised its position in Republic Services by 2.2% during the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 2,213 shares of the business services provider’s stock valued at $445,000 after purchasing an additional 48 shares during the period. Simmons Bank raised its position in Republic Services by 2.8% during the third quarter. Simmons Bank now owns 1,895 shares of the business services provider’s stock valued at $381,000 after purchasing an additional 51 shares during the period. Access Financial Services Inc. raised its position in Republic Services by 0.8% during the fourth quarter. Access Financial Services Inc. now owns 6,178 shares of the business services provider’s stock valued at $1,243,000 after purchasing an additional 51 shares during the period. Hantz Financial Services Inc. grew its holdings in Republic Services by 1.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 5,099 shares of the business services provider’s stock valued at $1,024,000 after purchasing an additional 52 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in Republic Services by 16.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 382 shares of the business services provider’s stock valued at $77,000 after purchasing an additional 54 shares during the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Stock Down 0.3 %

Republic Services stock opened at $220.91 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. The firm has a market cap of $69.18 billion, a P/E ratio of 35.35, a P/E/G ratio of 3.17 and a beta of 0.74. The business has a fifty day moving average of $209.96 and a two-hundred day moving average of $206.15. Republic Services, Inc. has a twelve month low of $171.06 and a twelve month high of $222.65.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be paid a dividend of $0.58 per share. The ex-dividend date is Wednesday, April 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.05%. Republic Services’s dividend payout ratio (DPR) is presently 37.12%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Truist Financial upped their price target on shares of Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada upgraded shares of Republic Services from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $219.00 to $237.00 in a report on Monday, January 6th. BMO Capital Markets raised shares of Republic Services from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $211.00 to $238.00 in a research note on Friday, December 6th. Oppenheimer boosted their price objective on shares of Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, CIBC lifted their price target on shares of Republic Services from $217.00 to $227.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $224.38.

Insider Buying and Selling

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the sale, the chief financial officer now owns 6,318 shares in the company, valued at approximately $1,326,906.36. The trade was a 44.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Katharine Weymouth sold 1,859 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $215.27, for a total value of $400,186.93. Following the sale, the director now owns 879 shares in the company, valued at $189,222.33. The trade was a 67.90 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

Republic Services Company 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.