Fmr LLC Has $369.46 Million Stock Position in Republic Services, Inc. (NYSE:RSG)

Fmr LLC trimmed its position in shares of Republic Services, Inc. (NYSE:RSG) by 4.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,839,572 shares of the business services provider’s stock after selling 84,061 shares during the quarter. Fmr LLC owned approximately 0.59% of Republic Services worth $369,460,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Wolff Wiese Magana LLC grew its position in Republic Services by 351.6% during the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock worth $28,000 after acquiring an additional 109 shares during the last quarter. Webster Bank N. A. acquired a new position in shares of Republic Services during the third quarter worth approximately $31,000. Truvestments Capital LLC bought a new position in Republic Services in the 3rd quarter valued at $34,000. Itau Unibanco Holding S.A. bought a new stake in shares of Republic Services during the second quarter worth $36,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Republic Services during the third quarter valued at $39,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Transactions at Republic Services

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the completion of the sale, the chief financial officer now owns 6,318 shares of the company’s stock, valued at approximately $1,326,906.36. The trade was a 44.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Republic Services Price Performance

NYSE:RSG opened at $218.30 on Friday. The stock’s 50-day simple moving average is $206.22 and its 200 day simple moving average is $199.98. Republic Services, Inc. has a 52-week low of $159.38 and a 52-week high of $220.58. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64. The company has a market cap of $68.36 billion, a P/E ratio of 34.93, a P/E/G ratio of 3.34 and a beta of 0.70.

Republic Services (NYSE:RSG) last issued its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.20. The business had revenue of $4.08 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.54 earnings per share. As a group, sell-side analysts forecast that Republic Services, Inc. will post 6.24 EPS for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a $0.58 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.06%. Republic Services’s payout ratio is 37.12%.

Wall Street Analyst Weigh In

RSG has been the subject of several recent research reports. Royal Bank of Canada boosted their price objective on Republic Services from $211.00 to $219.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. Morgan Stanley increased their price objective on shares of Republic Services from $208.00 to $217.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Truist Financial upped their target price on shares of Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. William Blair began coverage on Republic Services in a research report on Thursday, October 3rd. They issued an “outperform” rating on the stock. Finally, CIBC boosted their price objective on shares of Republic Services from $208.00 to $217.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $215.71.

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.