American Century Companies Inc. Lowers Position in Republic Services, Inc. (NYSE:RSG)

American Century Companies Inc. decreased its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 15.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,011,856 shares of the business services provider’s stock after selling 181,666 shares during the period. American Century Companies Inc.’s holdings in Republic Services were worth $203,565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions 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 valued at $3,586,000 after buying an additional 4,827 shares in the last quarter. TCW Group Inc. lifted its position in shares of Republic Services by 13.0% during the 3rd 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 position in shares of Republic Services during the 4th quarter valued at approximately $4,430,000. Czech National Bank lifted its position in shares of Republic Services by 6.1% during the 4th quarter. Czech National Bank now owns 44,134 shares of the business services provider’s stock valued at $8,879,000 after buying an additional 2,548 shares in the last quarter. Finally, Hickory Point Bank & Trust purchased a new position in Republic Services in the 4th quarter valued at $790,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Stock Performance

Shares of Republic Services stock opened at $232.95 on Friday. The business has a 50-day moving average of $224.90 and a 200 day moving average of $212.66. Republic Services, Inc. has a 12 month low of $180.92 and a 12 month high of $240.95. The stock has a market capitalization of $72.75 billion, a price-to-earnings ratio of 35.89, a price-to-earnings-growth ratio of 3.64 and a beta of 0.73. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64.

Republic Services (NYSE:RSG) last announced its earnings results on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.21. The company had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. During the same period last year, the business posted $1.41 EPS. As a group, sell-side analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s payout ratio is presently 35.75%.

Analysts Set New Price Targets

A number of brokerages have weighed in on RSG. Truist Financial restated a “buy” rating and issued a $250.00 price objective (up previously from $244.00) on shares of Republic Services in a report on Friday, February 14th. Jefferies Financial Group raised their price objective on Republic Services from $235.00 to $244.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Morgan Stanley raised their target price on Republic Services from $220.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Cibc World Mkts raised Republic Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 4th. Finally, The Goldman Sachs Group raised their target price on Republic Services from $239.00 to $265.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Republic Services has an average rating of “Moderate Buy” and a consensus price target of $236.88.

Insider Activity

In other news, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total value of $1,436,062.60. Following the completion of the transaction, the chief operating officer now owns 10,416 shares in the company, valued at approximately $2,376,931.20. This trade represents a 37.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.09% of the company’s stock.

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.