Republic Services, Inc. (NYSE:RSG) Shares Sold by PGGM Investments

PGGM Investments lessened its stake in Republic Services, Inc. (NYSE:RSG) by 36.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,427 shares of the business services provider’s stock after selling 1,402 shares during the period. PGGM Investments’ holdings in Republic Services were worth $465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its position in Republic Services by 16.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 5,576 shares of the business services provider’s stock worth $920,000 after buying an additional 782 shares during the period. Global Retirement Partners LLC increased its holdings in shares of Republic Services by 18.1% in the 4th quarter. Global Retirement Partners LLC now owns 745 shares of the business services provider’s stock valued at $123,000 after acquiring an additional 114 shares during the period. TIAA Trust National Association purchased a new stake in Republic Services in the 4th quarter valued at $466,000. Trust Point Inc. acquired a new stake in Republic Services during the 4th quarter worth $541,000. Finally, Ballentine Partners LLC grew its position in Republic Services by 2.6% during the 4th quarter. Ballentine Partners LLC now owns 7,028 shares of the business services provider’s stock worth $1,159,000 after purchasing an additional 177 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Price Performance

RSG stock opened at $200.00 on Friday. The company has a market cap of $62.81 billion, a price-to-earnings ratio of 35.09, a PEG ratio of 3.18 and a beta of 0.69. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.05. The firm has a 50 day moving average of $193.12 and a 200-day moving average of $187.06. Republic Services, Inc. has a 12-month low of $140.23 and a 12-month high of $206.54.

Republic Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be issued a $0.58 dividend. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. The ex-dividend date is Wednesday, October 2nd. This represents a $2.32 annualized dividend and a yield of 1.16%. Republic Services’s dividend payout ratio is 37.54%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on RSG shares. The Goldman Sachs Group upped their target price 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. BMO Capital Markets increased their price objective on Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. StockNews.com lowered Republic Services from a “strong-buy” rating to a “buy” rating in a report on Thursday. Truist Financial upgraded Republic Services from a “hold” rating to a “buy” rating and upped their price target for the stock from $192.00 to $220.00 in a research note on Thursday, July 11th. Finally, Robert W. Baird lifted their price objective on shares of Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Republic Services has an average rating of “Moderate Buy” and a consensus price target of $211.69.

Insider Transactions at Republic Services

In other Republic Services news, Director Katharine Weymouth bought 540 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was purchased at an average cost of $185.26 per share, for a total transaction of $100,040.40. Following the acquisition, the director now owns 540 shares of the company’s stock, valued at approximately $100,040.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CMO Amanda Hodges sold 6,500 shares of the stock in a transaction on 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Katharine Weymouth bought 540 shares of Republic Services stock in a transaction on Tuesday, June 4th. The stock was purchased at an average price of $185.26 per share, for a total transaction of $100,040.40. Following the completion of the acquisition, the director now owns 540 shares in the company, valued at approximately $100,040.40. The disclosure for this purchase can be found here. Corporate 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.