Smithfield Trust Co Increases Stake in Republic Services, Inc. (NYSE:RSG)

Smithfield Trust Co boosted its position in Republic Services, Inc. (NYSE:RSG) by 9.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,133 shares of the business services provider’s stock after acquiring an additional 865 shares during the quarter. Smithfield Trust Co’s holdings in Republic Services were worth $2,034,000 at the end of the most recent quarter.

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

Republic Services Price Performance

Republic Services stock opened at $235.55 on Wednesday. The business has a 50 day simple moving average of $217.11 and a 200-day simple moving average of $210.28. Republic Services, Inc. has a 12 month low of $180.91 and a 12 month high of $240.95. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64. The stock has a market capitalization of $73.56 billion, a PE ratio of 36.29, a price-to-earnings-growth ratio of 3.64 and a beta of 0.74.

Republic Services (NYSE:RSG) last released its 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 company had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter last year, the business earned $1.41 EPS. Equities analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services’s payout ratio is 35.75%.

Analysts Set New Price Targets

RSG has been the subject of a number of research analyst reports. Truist Financial reaffirmed 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. Morgan Stanley upped their target price on shares of Republic Services from $220.00 to $230.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Jefferies Financial Group lifted their price target on shares of Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft upgraded shares of Republic Services from a “hold” rating to a “buy” rating and upped their price objective for the company from $219.00 to $237.00 in a research note on Tuesday, December 10th. Finally, BMO Capital Markets upgraded Republic Services from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $211.00 to $238.00 in a research report on Friday, December 6th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Republic Services has an average rating of “Moderate Buy” and an average price target of $236.88.

Insider Activity

In related news, Director Katharine Weymouth sold 1,859 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $215.27, for a total value of $400,186.93. Following the completion of the sale, the director now owns 879 shares in the company, valued at $189,222.33. This trade represents a 67.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Gregg Brummer sold 6,293 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the completion of the transaction, the chief operating officer now directly owns 10,416 shares of the company’s stock, valued at approximately $2,376,931.20. This trade represents a 37.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

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.