Siemens Fonds Invest GmbH lessened its stake in Republic Services, Inc. (NYSE:RSG – Get Rating) by 13.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,832 shares of the business services provider’s stock after selling 279 shares during the period. Siemens Fonds Invest GmbH’s holdings in Republic Services were worth $236,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Veriti Management LLC increased its stake in shares of Republic Services by 21.7% in the fourth quarter. Veriti Management LLC now owns 6,325 shares of the business services provider’s stock worth $816,000 after buying an additional 1,127 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Republic Services by 21.3% in the third quarter. Thrivent Financial for Lutherans now owns 80,758 shares of the business services provider’s stock worth $11,028,000 after purchasing an additional 14,172 shares during the last quarter. Nations Financial Group Inc. IA ADV grew its stake in shares of Republic Services by 11.6% in the third quarter. Nations Financial Group Inc. IA ADV now owns 1,773 shares of the business services provider’s stock worth $241,000 after purchasing an additional 184 shares during the last quarter. Cumberland Partners Ltd bought a new stake in shares of Republic Services in the fourth quarter worth about $813,000. Finally, Aviva PLC lifted its stake in Republic Services by 17.3% in the fourth quarter. Aviva PLC now owns 182,563 shares of the business services provider’s stock worth $23,549,000 after acquiring an additional 26,984 shares during the period. Institutional investors own 57.14% of the company’s stock.
Insiders Place Their Bets
In other news, Director Tomago Collins sold 1,545 shares of the firm’s stock in a transaction dated Wednesday, March 22nd. The shares were sold at an average price of $130.77, for a total transaction of $202,039.65. Following the sale, the director now owns 10,604 shares of the company’s stock, valued at approximately $1,386,685.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Tomago Collins sold 1,545 shares of the stock in a transaction on Wednesday, March 22nd. The stock was sold at an average price of $130.77, for a total transaction of $202,039.65. Following the transaction, the director now directly owns 10,604 shares of the company’s stock, valued at approximately $1,386,685.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Katharine Weymouth sold 4,304 shares of the stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $133.56, for a total value of $574,842.24. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.
Republic Services Trading Up 0.3 %
Republic Services (NYSE:RSG – Get Rating) last issued its earnings results on Thursday, April 27th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.11. The business had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.43 billion. Republic Services had a net margin of 10.76% and a return on equity of 16.66%. The business’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.14 earnings per share. As a group, equities analysts predict that Republic Services, Inc. will post 5.23 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 Friday, July 14th. Shareholders of record on Monday, July 3rd will be issued a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date is Friday, June 30th. Republic Services’s payout ratio is 41.34%.
Analyst Upgrades and Downgrades
A number of analysts recently commented on the company. BMO Capital Markets dropped their price target on Republic Services from $148.00 to $138.00 and set a “market perform” rating for the company in a research note on Thursday, February 16th. VNET Group reissued a “maintains” rating on shares of Republic Services in a research note on Thursday, April 27th. StockNews.com assumed coverage on shares of Republic Services in a research note on Thursday, May 18th. They issued a “buy” rating for the company. Morgan Stanley increased their price objective on Republic Services from $154.00 to $158.00 in a report on Friday, June 2nd. Finally, Truist Financial assumed coverage on shares of Republic Services in a report on Monday, April 17th. They set a “hold” rating and a $146.00 target price on the stock. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.80.
About Republic Services
Republic Services, Inc engages in the provision of environmental services. It operates through the following segments: Group 1, Group 2, and Group 3. The Group 1 segment focuses on the business of recycling and solid waste in geographic areas located in western United States. The Group 2 segment includes the recycling and solid waste business in geographic areas located in the southeastern and mid-western and the eastern seaboard of the United States.
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