Brookfield Corp ON Sells 1,269 Shares of Republic Services, Inc. (NYSE:RSG)

Brookfield Corp ON reduced its position in Republic Services, Inc. (NYSE:RSG) by 7.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 16,560 shares of the business services provider’s stock after selling 1,269 shares during the period. Brookfield Corp ON’s holdings in Republic Services were worth $3,326,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP increased its position in Republic Services by 23.2% in the third quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider’s stock worth $1,205,883,000 after purchasing an additional 1,131,850 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Republic Services by 2.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,520,738 shares of the business services provider’s stock worth $506,265,000 after buying an additional 57,040 shares during the period. Stifel Financial Corp raised its stake in shares of Republic Services by 437.9% during the third quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock worth $364,449,000 after buying an additional 1,477,255 shares during the last quarter. Legal & General Group Plc lifted its holdings in Republic Services by 5.4% in the second quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider’s stock valued at $351,480,000 after buying an additional 92,013 shares during the period. Finally, TD Asset Management Inc boosted its stake in Republic Services by 2.1% in the second quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider’s stock valued at $341,602,000 after acquiring an additional 35,650 shares during the last quarter. Institutional investors own 57.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RSG. William Blair initiated coverage on Republic Services in a research note on Thursday, October 3rd. They issued an “outperform” rating on the stock. Oppenheimer increased their target price on Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Morgan Stanley boosted their target price on Republic Services from $208.00 to $217.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Royal Bank of Canada increased their price target on shares of Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Finally, Truist Financial boosted their price objective on shares of Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $217.88.

Republic Services Stock Up 0.6 %

NYSE:RSG opened at $216.70 on Friday. The firm has a market capitalization of $67.86 billion, a price-to-earnings ratio of 34.67, a price-to-earnings-growth ratio of 3.29 and a beta of 0.71. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. Republic Services, Inc. has a twelve month low of $160.41 and a twelve month high of $220.58. The stock’s 50 day moving average price is $207.21 and its two-hundred day moving average price is $200.67.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.20. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.12 billion. During the same period in the prior year, the firm earned $1.54 EPS. The business’s revenue was up 6.5% on a year-over-year basis. Equities research analysts expect that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.07%. Republic Services’s dividend payout ratio is 37.12%.

Insider Activity at Republic Services

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total value of $1,065,011.42. Following the completion of the transaction, the chief financial officer now owns 6,318 shares of the company’s stock, valued at $1,326,906.36. This represents a 44.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is currently owned by insiders.

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.