Republic Services, Inc. (NYSE:RSG) Shares Sold by abrdn plc

abrdn plc lessened its position in shares of Republic Services, Inc. (NYSE:RSG) by 10.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 50,455 shares of the business services provider’s stock after selling 6,161 shares during the period. abrdn plc’s holdings in Republic Services were worth $10,065,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System boosted its holdings in shares of Republic Services by 8.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 239,031 shares of the business services provider’s stock valued at $45,760,000 after buying an additional 19,414 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Republic Services by 32.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,296 shares of the business services provider’s stock valued at $18,052,000 after buying an additional 23,306 shares in the last quarter. PGGM Investments boosted its holdings in shares of Republic Services by 264.3% in the 2nd quarter. PGGM Investments now owns 8,842 shares of the business services provider’s stock valued at $1,718,000 after buying an additional 6,415 shares in the last quarter. Forsta AP Fonden raised its position in Republic Services by 11.7% in the 1st quarter. Forsta AP Fonden now owns 45,000 shares of the business services provider’s stock valued at $8,615,000 after purchasing an additional 4,700 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Republic Services by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 18,254,878 shares of the business services provider’s stock valued at $3,494,714,000 after purchasing an additional 101,518 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. TD Cowen upped their price target on shares of Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a research report on Monday, August 5th. StockNews.com downgraded shares of Republic Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Truist Financial upped their price target on shares of Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research report on Wednesday. CIBC upped their price target on shares of Republic Services from $208.00 to $217.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Stifel Nicolaus upped their price objective on shares of Republic Services from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Republic Services has a consensus rating of “Moderate Buy” and an average price target of $215.71.

Insider Activity at Republic Services

In other news, Director Tomago Collins sold 3,200 shares of Republic Services stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $203.01, for a total transaction of $649,632.00. Following the sale, the director now owns 17,486 shares in the company, valued at $3,549,832.86. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.09% of the stock is currently owned by insiders.

Republic Services Stock Performance

Shares of RSG opened at $198.58 on Friday. The company has a 50-day simple moving average of $203.43 and a 200-day simple moving average of $196.81. The company has a quick ratio of 0.59, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $62.19 billion, a PE ratio of 31.77, a P/E/G ratio of 3.04 and a beta of 0.70. Republic Services, Inc. has a 52-week low of $148.36 and a 52-week high of $208.69.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.20. The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.54 EPS. Equities research analysts predict that Republic Services, Inc. will post 6.23 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a $0.58 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 annualized dividend and a yield of 1.17%. Republic Services’s payout ratio is 37.12%.

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.