Republic Services, Inc. (NYSE:RSG) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. increased its position in shares of Republic Services, Inc. (NYSE:RSG) by 0.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 750,571 shares of the business services provider’s stock after purchasing an additional 2,516 shares during the period. Principal Financial Group Inc. owned 0.24% of Republic Services worth $151,000,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of RSG. Creative Planning grew its stake in shares of Republic Services by 8.1% during the third quarter. Creative Planning now owns 31,447 shares of the business services provider’s stock worth $6,316,000 after purchasing an additional 2,360 shares in the last quarter. Good Life Advisors LLC grew its stake in shares of Republic Services by 12.3% during the third quarter. Good Life Advisors LLC now owns 1,207 shares of the business services provider’s stock worth $242,000 after purchasing an additional 132 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Republic Services by 44.5% during the third quarter. Blue Trust Inc. now owns 4,679 shares of the business services provider’s stock worth $909,000 after purchasing an additional 1,440 shares in the last quarter. Compass Ion Advisors LLC grew its stake in shares of Republic Services by 24.9% during the third quarter. Compass Ion Advisors LLC now owns 1,308 shares of the business services provider’s stock worth $263,000 after purchasing an additional 261 shares in the last quarter. Finally, Corundum Group Inc. grew its stake in shares of Republic Services by 4.6% during the third quarter. Corundum Group Inc. now owns 2,917 shares of the business services provider’s stock worth $586,000 after purchasing an additional 127 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Oppenheimer boosted their price target on shares of Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Truist Financial reissued a “buy” rating and issued a $250.00 price target (up from $244.00) on shares of Republic Services in a research report on Friday. BMO Capital Markets raised shares of Republic Services from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $211.00 to $238.00 in a research report on Friday, December 6th. William Blair reissued an “outperform” rating on shares of Republic Services in a research report on Friday. Finally, Royal Bank of Canada raised shares of Republic Services from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $219.00 to $237.00 in a research report on Monday, January 6th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Republic Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.38.

Insiders Place Their Bets

In other news, Director Katharine Weymouth sold 1,859 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $215.27, for a total value of $400,186.93. Following the sale, the director now directly owns 879 shares in the company, valued at $189,222.33. This represents a 67.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is currently owned by company insiders.

Republic Services Trading Up 2.9 %

Shares of Republic Services stock opened at $230.98 on Tuesday. Republic Services, Inc. has a 52-week low of $177.03 and a 52-week high of $232.52. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. The company’s 50-day simple moving average is $210.94 and its 200-day simple moving average is $207.52. The firm has a market cap of $72.33 billion, a price-to-earnings ratio of 36.96, a price-to-earnings-growth ratio of 3.24 and a beta of 0.74.

Republic Services (NYSE:RSG) last issued its earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.21. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period in the prior year, the business posted $1.41 earnings per share. As a group, equities research analysts anticipate that Republic Services, Inc. will post 6.25 earnings per share for the current year.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be given a dividend of $0.58 per share. The ex-dividend date is Wednesday, April 2nd. This represents a $2.32 annualized dividend and a yield of 1.00%. Republic Services’s payout ratio is currently 35.75%.

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.