Mackenzie Financial Corp Sells 2,403 Shares of Republic Services, Inc. (NYSE:RSG)

Mackenzie Financial Corp decreased its position in shares of Republic Services, Inc. (NYSE:RSG) by 0.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 268,611 shares of the business services provider’s stock after selling 2,403 shares during the period. Mackenzie Financial Corp owned approximately 0.09% of Republic Services worth $52,202,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of RSG. Capital World Investors increased its position in shares of Republic Services by 416.9% in the fourth quarter. Capital World Investors now owns 6,562,420 shares of the business services provider’s stock worth $1,082,209,000 after purchasing an additional 5,292,862 shares during the period. TD Asset Management Inc increased its position in shares of Republic Services by 424.7% in the first quarter. TD Asset Management Inc now owns 1,722,107 shares of the business services provider’s stock worth $329,680,000 after purchasing an additional 1,393,918 shares during the period. M&G Plc bought a new position in shares of Republic Services in the first quarter worth $130,892,000. Earnest Partners LLC increased its position in shares of Republic Services by 16.9% in the first quarter. Earnest Partners LLC now owns 1,262,519 shares of the business services provider’s stock worth $241,697,000 after purchasing an additional 182,645 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of Republic Services by 235.4% in the first quarter. SG Americas Securities LLC now owns 255,007 shares of the business services provider’s stock worth $48,819,000 after purchasing an additional 178,969 shares during the period. Institutional investors own 57.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Robert W. Baird raised their price target on Republic Services from $208.00 to $210.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. BMO Capital Markets lifted 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. Truist Financial upgraded Republic Services from a “hold” rating to a “buy” rating and lifted their target price for the company from $192.00 to $220.00 in a research report on Thursday, July 11th. Raymond James decreased their target price on 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, Royal Bank of Canada lifted their target price on Republic Services from $201.00 to $211.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Republic Services currently has an average rating of “Hold” and an average target price of $211.00.

Republic Services Price Performance

Republic Services stock opened at $199.38 on Friday. The stock’s 50 day moving average is $202.20 and its 200 day moving average is $194.25. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a market cap of $62.62 billion, a P/E ratio of 34.98, a P/E/G ratio of 3.26 and a beta of 0.70. Republic Services, Inc. has a one year low of $140.23 and a one year high of $208.69.

Republic Services (NYSE:RSG) last posted its quarterly earnings data 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 company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.03 billion. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. As a group, research analysts expect that Republic Services, Inc. will post 6.18 EPS for the current year.

Republic Services Increases Dividend

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

Insiders Place Their Bets

In other Republic Services news, Director Tomago Collins sold 3,200 shares of Republic Services stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $203.01, for a total value of $649,632.00. Following the completion of the sale, the director now directly owns 17,486 shares in the company, valued at $3,549,832.86. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.09% of the stock is currently owned by corporate 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.