BI Asset Management Fondsmaeglerselskab A S Sells 5,637 Shares of Republic Services, Inc. (NYSE:RSG)

BI Asset Management Fondsmaeglerselskab A S lessened its position in shares of Republic Services, Inc. (NYSE:RSG) by 36.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,625 shares of the business services provider’s stock after selling 5,637 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Republic Services were worth $1,587,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in Republic Services during the 4th quarter worth approximately $358,837,000. Magellan Asset Management Ltd grew its position in Republic Services by 1,497,159.0% during the 3rd quarter. Magellan Asset Management Ltd now owns 913,328 shares of the business services provider’s stock worth $130,158,000 after purchasing an additional 913,267 shares during the last quarter. FMR LLC grew its position in Republic Services by 34.4% during the 3rd quarter. FMR LLC now owns 2,202,405 shares of the business services provider’s stock worth $313,865,000 after purchasing an additional 563,761 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in Republic Services during the 4th quarter worth approximately $77,417,000. Finally, Envestnet Asset Management Inc. grew its position in Republic Services by 50.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 900,653 shares of the business services provider’s stock worth $128,352,000 after purchasing an additional 303,754 shares during the last quarter. Institutional investors own 57.73% of the company’s stock.

Republic Services Stock Performance

NYSE:RSG opened at $186.48 on Wednesday. The company has a fifty day moving average of $188.78 and a two-hundred day moving average of $175.68. The stock has a market capitalization of $58.73 billion, a PE ratio of 32.72, a P/E/G ratio of 3.00 and a beta of 0.67. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.53 and a current ratio of 0.53. Republic Services, Inc. has a fifty-two week low of $140.07 and a fifty-two week high of $196.76.

Republic Services (NYSE:RSG) last issued its earnings results on Tuesday, April 30th. The business services provider reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.10. The business had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Republic Services had a net margin of 11.81% and a return on equity of 17.56%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.24 earnings per share. As a group, research analysts forecast that Republic Services, Inc. will post 6.05 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, July 2nd will be given a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend is Tuesday, July 2nd. Republic Services’s dividend payout ratio (DPR) is 37.54%.

Wall Street Analysts Forecast Growth

RSG has been the topic of several recent research reports. Truist Financial upped their price objective on shares of Republic Services from $175.00 to $192.00 and gave the company a “hold” rating in a report on Wednesday, February 28th. The Goldman Sachs Group upped their price objective on shares of Republic Services from $209.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Citigroup increased their price target on shares of Republic Services from $190.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Wells Fargo & Company increased their price target on shares of Republic Services from $180.00 to $188.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. Finally, Scotiabank increased their price target on shares of Republic Services from $211.00 to $213.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 1st. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Republic Services has an average rating of “Moderate Buy” and an average price target of $201.00.

Insider Activity

In related news, CEO Ark Jon Vander sold 5,446 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the completion of the sale, the chief executive officer now directly owns 85,113 shares in the company, valued at $15,669,303.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Ark Jon Vander sold 5,446 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the completion of the sale, the chief executive officer now directly owns 85,113 shares in the company, valued at $15,669,303.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CMO Amanda Hodges sold 6,500 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the sale, the chief marketing officer now owns 6,831 shares of the company’s stock, valued at $1,270,702.62. The disclosure for this sale can be found here. 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.