Mitsubishi UFJ Trust & Banking Corp Trims Stake in Republic Services, Inc. (NYSE:RSG)

Mitsubishi UFJ Trust & Banking Corp trimmed its position in Republic Services, Inc. (NYSE:RSG) by 3.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 290,796 shares of the business services provider’s stock after selling 9,639 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.09% of Republic Services worth $55,653,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital World Investors grew its position in shares of Republic Services by 416.9% during the fourth quarter. Capital World Investors now owns 6,562,420 shares of the business services provider’s stock worth $1,082,209,000 after purchasing an additional 5,292,862 shares in the last quarter. Norges Bank bought a new position in shares of Republic Services during the fourth quarter worth $358,837,000. TD Asset Management Inc boosted its holdings in shares of Republic Services by 424.7% during the 1st quarter. TD Asset Management Inc now owns 1,722,107 shares of the business services provider’s stock valued at $329,680,000 after purchasing an additional 1,393,918 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Republic Services by 0.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,091,482 shares of the business services provider’s stock valued at $179,996,000 after buying an additional 5,870 shares during the last quarter. Finally, Magellan Asset Management Ltd boosted its position in shares of Republic Services by 15.9% during the 4th quarter. Magellan Asset Management Ltd now owns 1,058,425 shares of the business services provider’s stock valued at $174,545,000 after acquiring an additional 145,097 shares during the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Stock Down 0.5 %

Republic Services stock traded down $1.11 during mid-day trading on Friday, reaching $203.46. 1,141,994 shares of the company were exchanged, compared to its average volume of 1,244,342. Republic Services, Inc. has a 12-month low of $140.23 and a 12-month high of $206.54. The business has a fifty day moving average of $191.34 and a 200 day moving average of $184.86. The firm has a market cap of $64.08 billion, a P/E ratio of 35.69, a PEG ratio of 3.42 and a beta of 0.69. 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 (NYSE:RSG) last released its quarterly earnings results on Tuesday, April 30th. The business services provider reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.10. Republic Services had a net margin of 11.81% and a return on equity of 17.56%. The business had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same period last year, the business earned $1.24 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. Research analysts anticipate that Republic Services, Inc. will post 6.05 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Tuesday, July 2nd were paid a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date was Tuesday, July 2nd. Republic Services’s dividend payout ratio (DPR) is presently 37.54%.

Analyst Ratings Changes

A number of brokerages have commented on RSG. StockNews.com raised shares of Republic Services from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 16th. Oppenheimer lifted their target price on Republic Services from $204.00 to $211.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Truist Financial raised shares of Republic Services from a “hold” rating to a “buy” rating and increased their target price for the company from $192.00 to $220.00 in a research note on Thursday, July 11th. Deutsche Bank Aktiengesellschaft started coverage on Republic Services in a research report on Thursday, May 23rd. They set a “hold” rating and a $203.00 target price for the company. Finally, Royal Bank of Canada assumed coverage on Republic Services in a research note on Monday, April 8th. They issued a “sector perform” rating and a $198.00 target price on the stock. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Republic Services presently has a consensus rating of “Moderate Buy” and an average target price of $203.64.

Insider Transactions at Republic Services

In related news, CMO Amanda Hodges sold 6,500 shares of Republic Services stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $186.02, for a total value of $1,209,130.00. Following the completion of the sale, the chief marketing officer now directly owns 6,831 shares in the company, valued at approximately $1,270,702.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CMO Amanda Hodges sold 6,500 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $186.02, for a total value of $1,209,130.00. Following the completion of the transaction, the chief marketing officer now owns 6,831 shares in the company, valued at approximately $1,270,702.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Katharine Weymouth purchased 540 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were purchased at an average price of $185.26 per share, for a total transaction of $100,040.40. Following the purchase, the director now owns 540 shares in the company, valued at approximately $100,040.40. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

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.