Meiji Yasuda Asset Management Co Ltd. Buys 369 Shares of Republic Services, Inc. (NYSE:RSG)

Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Republic Services, Inc. (NYSE:RSG) by 0.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,019 shares of the business services provider’s stock after purchasing an additional 369 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Republic Services were worth $11,672,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in RSG. PKS Advisory Services LLC bought a new position in shares of Republic Services in the 4th quarter valued at about $221,000. TIAA Trust National Association lifted its stake in Republic Services by 5.6% in the 4th quarter. TIAA Trust National Association now owns 3,288 shares of the business services provider’s stock valued at $661,000 after purchasing an additional 175 shares during the last quarter. Taikang Asset Management Hong Kong Co Ltd increased its position in Republic Services by 58.8% during the fourth quarter. Taikang Asset Management Hong Kong Co Ltd now owns 3,335 shares of the business services provider’s stock worth $671,000 after buying an additional 1,235 shares during the last quarter. CoreFirst Bank & Trust bought a new stake in Republic Services in the fourth quarter valued at approximately $151,000. Finally, ICW Investment Advisors LLC lifted its position in shares of Republic Services by 3.4% in the fourth quarter. ICW Investment Advisors LLC now owns 7,644 shares of the business services provider’s stock valued at $1,538,000 after buying an additional 249 shares during the last quarter. 57.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on RSG shares. Truist Financial restated a “buy” rating and issued a $250.00 price target (up previously from $244.00) on shares of Republic Services in a research note on Friday, February 14th. Cibc World Mkts upgraded shares of Republic Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 4th. Argus set a $260.00 price target on shares of Republic Services in a report on Tuesday, February 18th. The Goldman Sachs Group boosted their price objective on Republic Services from $239.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Finally, UBS Group lifted their price target on Republic Services from $212.00 to $240.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $236.88.

Republic Services Trading Up 1.2 %

Shares of RSG stock opened at $236.16 on Tuesday. Republic Services, Inc. has a fifty-two week low of $180.92 and a fifty-two week high of $240.95. The stock’s fifty day moving average price is $225.49 and its two-hundred day moving average price is $212.92. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. The company has a market cap of $73.75 billion, a PE ratio of 36.39, a P/E/G ratio of 3.64 and a beta of 0.73.

Republic Services (NYSE:RSG) last released its earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.21. The firm had revenue of $4.05 billion for 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 quarter in the previous year, the business posted $1.41 earnings per share. Equities analysts predict that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Announces Dividend

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

Insider Transactions at Republic Services

In related news, COO Gregg Brummer sold 6,293 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the sale, the chief operating officer now owns 10,416 shares in the company, valued at $2,376,931.20. The trade was a 37.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company 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.