Prudential PLC Increases Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Prudential PLC raised its position in Republic Services, Inc. (NYSE:RSG) by 0.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,101 shares of the business services provider’s stock after purchasing an additional 296 shares during the quarter. Prudential PLC’s holdings in Republic Services were worth $8,376,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in RSG. Principal Securities Inc. purchased a new position in shares of Republic Services during the 4th quarter worth $430,000. Cary Street Partners Investment Advisory LLC increased its position in shares of Republic Services by 18.6% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 4,541 shares of the business services provider’s stock valued at $749,000 after acquiring an additional 713 shares during the last quarter. Johnson Investment Counsel Inc. raised its stake in shares of Republic Services by 12.7% in the 4th quarter. Johnson Investment Counsel Inc. now owns 6,459 shares of the business services provider’s stock valued at $1,065,000 after acquiring an additional 727 shares during the period. QRG Capital Management Inc. lifted its holdings in shares of Republic Services by 2.9% in the 4th quarter. QRG Capital Management Inc. now owns 18,603 shares of the business services provider’s stock worth $3,068,000 after acquiring an additional 516 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its position in shares of Republic Services by 7.2% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 51,717 shares of the business services provider’s stock worth $8,529,000 after purchasing an additional 3,466 shares during the period. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insider Activity at Republic Services

In other news, Director Tomago Collins sold 3,200 shares of Republic Services stock in a transaction dated Friday, August 16th. The stock was 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the company. BMO Capital Markets boosted their target price on Republic Services from $209.00 to $211.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Robert W. Baird boosted their price objective on Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft started coverage on Republic Services in a report on Thursday, May 23rd. They set a “hold” rating and a $203.00 target price for the company. CIBC boosted their price target on shares of Republic Services from $196.00 to $208.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Finally, Truist Financial raised shares of Republic Services from a “hold” rating to a “buy” rating and increased their price target for the stock from $192.00 to $220.00 in a research report on Thursday, July 11th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $211.00.

Republic Services Stock Up 1.2 %

Republic Services stock opened at $205.30 on Tuesday. The stock has a market cap of $64.48 billion, a PE ratio of 36.02, a P/E/G ratio of 3.26 and a beta of 0.70. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.59 and a quick ratio of 0.59. The stock’s fifty day moving average is $200.90 and its two-hundred day moving average is $192.66. Republic Services, Inc. has a 1-year low of $140.23 and a 1-year high of $208.69.

Republic Services (NYSE:RSG) last posted its earnings results on Wednesday, July 24th. The business services provider reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.08. The firm had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $4.03 billion. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. On average, sell-side analysts expect that Republic Services, Inc. will post 6.18 EPS for the current fiscal year.

Republic Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd will be paid a dividend of $0.58 per share. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. This represents a $2.32 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Wednesday, October 2nd. Republic Services’s dividend payout ratio (DPR) is currently 37.54%.

Republic Services 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.