Republic Services, Inc. (NYSE:RSG) Shares Purchased by Bank of Montreal Can

Bank of Montreal Can grew its stake in shares of Republic Services, Inc. (NYSE:RSG) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 395,245 shares of the business services provider’s stock after acquiring an additional 3,388 shares during the quarter. Bank of Montreal Can’s holdings in Republic Services were worth $79,515,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. increased its position in Republic Services by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 18,590,728 shares of the business services provider’s stock worth $3,740,083,000 after purchasing an additional 144,719 shares during the last quarter. Pictet Asset Management Holding SA increased its holdings in shares of Republic Services by 3.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 6,262,325 shares of the business services provider’s stock worth $1,259,855,000 after buying an additional 218,729 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Republic Services by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 4,565,137 shares of the business services provider’s stock worth $918,045,000 after buying an additional 57,616 shares during the period. Nordea Investment Management AB grew its position in Republic Services by 19.4% during the fourth quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock valued at $626,553,000 after acquiring an additional 509,116 shares during the period. Finally, Norges Bank acquired a new stake in Republic Services during the fourth quarter worth about $553,039,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Republic Services

In related news, COO Gregg Brummer sold 6,293 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief operating officer now 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.09% of the company’s stock.

Republic Services Stock Performance

Shares of Republic Services stock opened at $227.13 on Wednesday. The firm has a market cap of $70.93 billion, a PE ratio of 35.00, a price-to-earnings-growth ratio of 3.64 and a beta of 0.62. Republic Services, Inc. has a 1 year low of $180.92 and a 1 year high of $249.73. The firm’s 50-day simple moving average is $231.53 and its 200-day simple moving average is $215.73. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58.

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 analysts’ consensus estimates of $1.37 by $0.21. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter last year, the business posted $1.41 EPS. Equities analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal 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 issued 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 1.02%. Republic Services’s dividend payout ratio (DPR) is 35.75%.

Analyst Ratings Changes

RSG has been the topic of a number of recent research reports. Royal Bank of Canada raised shares of Republic Services from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $219.00 to $237.00 in a research report on Monday, January 6th. William Blair reaffirmed an “outperform” rating on shares of Republic Services in a research report on Friday, February 14th. Scotiabank raised their price objective on Republic Services from $233.00 to $250.00 and gave the company a “sector perform” rating in a research report on Tuesday. Jefferies Financial Group upped their target price on Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Finally, Truist Financial reiterated a “buy” rating and set a $250.00 target price (up from $244.00) on shares of Republic Services in a report on Friday, February 14th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Republic Services presently has an average rating of “Moderate Buy” and an average target price of $238.50.

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.