Republic Services, Inc. (NYSE:RSG) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA reduced its stake in shares of Republic Services, Inc. (NYSE:RSG) by 70.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 265,162 shares of the business services provider’s stock after selling 644,137 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Republic Services were worth $51,532,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Unigestion Holding SA boosted its holdings in shares of Republic Services by 2,178.2% during the 4th quarter. Unigestion Holding SA now owns 127,647 shares of the business services provider’s stock worth $21,048,000 after purchasing an additional 122,044 shares during the last quarter. Bank of Nova Scotia boosted its holdings in shares of Republic Services by 52.3% during the 4th quarter. Bank of Nova Scotia now owns 214,504 shares of the business services provider’s stock worth $35,357,000 after purchasing an additional 73,651 shares during the last quarter. TCW Group Inc. acquired a new position in shares of Republic Services during the 4th quarter worth approximately $17,903,000. Hsbc Holdings PLC raised its position in shares of Republic Services by 8.7% during the 4th quarter. Hsbc Holdings PLC now owns 456,726 shares of the business services provider’s stock valued at $75,297,000 after buying an additional 36,484 shares during the period. Finally, Allianz Asset Management GmbH raised its position in shares of Republic Services by 10.4% during the 4th quarter. Allianz Asset Management GmbH now owns 591,209 shares of the business services provider’s stock valued at $97,496,000 after buying an additional 55,668 shares during the period. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Stock Performance

NYSE:RSG opened at $200.84 on Friday. The company has a fifty day simple moving average of $202.25 and a two-hundred day simple moving average of $193.61. The company has a market cap of $63.08 billion, a price-to-earnings ratio of 35.24, a price-to-earnings-growth ratio of 3.30 and a beta of 0.70. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.05. Republic Services, Inc. has a 52 week low of $140.23 and a 52 week high of $208.69.

Republic Services (NYSE:RSG) last issued its earnings results on Wednesday, July 24th. The business services provider reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.08. The firm had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.03 billion. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. As a group, equities analysts anticipate that Republic Services, Inc. will post 6.18 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.16%. This is an increase from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s payout ratio is presently 37.54%.

Insider Buying and Selling

In related news, Director Tomago Collins sold 3,200 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $203.01, for a total transaction of $649,632.00. Following the completion of the transaction, the director now owns 17,486 shares in the company, valued at $3,549,832.86. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on RSG. Robert W. Baird lifted their price target on shares of Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Truist Financial raised shares of Republic Services from a “hold” rating to a “buy” rating and lifted their price target for the company from $192.00 to $220.00 in a research report on Thursday, July 11th. TD Cowen lifted their price target on shares of Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Raymond James reduced their price target on shares of Republic Services from $219.00 to $214.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Finally, BMO Capital Markets boosted their target price on Republic Services from $209.00 to $211.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Republic Services presently has an average rating of “Hold” and a consensus price target of $211.00.

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.