24,573 Shares in Republic Services, Inc. (NYSE:RSG) Bought by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp bought a new stake in Republic Services, Inc. (NYSE:RSG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 24,573 shares of the business services provider’s stock, valued at approximately $4,052,000.

Several other hedge funds and other institutional investors have also made changes to their positions in RSG. GAMMA Investing LLC acquired a new stake in Republic Services during the 4th quarter worth $287,000. SlateStone Wealth LLC grew its stake in Republic Services by 30.1% during the 4th quarter. SlateStone Wealth LLC now owns 4,325 shares of the business services provider’s stock worth $713,000 after purchasing an additional 1,000 shares in the last quarter. Marks Group Wealth Management Inc boosted its position in shares of Republic Services by 133.2% during the 4th quarter. Marks Group Wealth Management Inc now owns 76,395 shares of the business services provider’s stock worth $12,598,000 after acquiring an additional 43,631 shares in the last quarter. PDS Planning Inc acquired a new position in shares of Republic Services during the 4th quarter worth about $221,000. Finally, Foster & Motley Inc. purchased a new stake in shares of Republic Services in the 4th quarter valued at about $221,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insider Buying and Selling

In related news, CEO Ark Jon Vander sold 5,446 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the transaction, the chief executive officer now directly owns 85,113 shares of the company’s stock, valued at $15,669,303.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is owned by insiders.

Republic Services Price Performance

Shares of RSG traded up $1.38 during mid-day trading on Wednesday, hitting $191.99. 1,135,541 shares of the company traded hands, compared to its average volume of 1,203,354. The business has a 50-day moving average of $186.59 and a 200 day moving average of $169.85. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $60.47 billion, a price-to-earnings ratio of 34.85, a PEG ratio of 3.35 and a beta of 0.68. Republic Services, Inc. has a one year low of $135.33 and a one year high of $192.99.

Republic Services (NYSE:RSG) last released its earnings results on Tuesday, February 27th. The business services provider reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.13. Republic Services had a net margin of 11.57% and a return on equity of 17.32%. The business had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter last year, the firm earned $1.13 earnings per share. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, equities analysts expect that Republic Services, Inc. will post 6.01 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Tuesday, April 2nd were paid a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 1.11%. The ex-dividend date was Monday, April 1st. Republic Services’s dividend payout ratio is presently 39.12%.

Analyst Ratings Changes

RSG has been the topic of a number of analyst reports. UBS Group cut Republic Services from a “buy” rating to a “neutral” rating and increased their target price for the company from $175.00 to $195.00 in a report on Thursday, February 29th. Jefferies Financial Group lifted their price target on Republic Services from $213.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Scotiabank started coverage on Republic Services in a research note on Monday, April 8th. They issued a “sector perform” rating and a $211.00 target price for the company. Truist Financial lifted their price target on Republic Services from $175.00 to $192.00 and gave the company a “hold” rating in a report on Wednesday, February 28th. Finally, Morgan Stanley cut Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 price target on the stock. in a report on Friday, March 15th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $199.77.

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.