Quilter Plc Reduces Holdings in Republic Services, Inc. (NYSE:RSG)

Quilter Plc lessened its position in shares of Republic Services, Inc. (NYSE:RSG) by 0.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 39,306 shares of the business services provider’s stock after selling 69 shares during the quarter. Quilter Plc’s holdings in Republic Services were worth $7,639,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Rathbones Group PLC lifted its stake in shares of Republic Services by 8.3% in the 2nd quarter. Rathbones Group PLC now owns 84,716 shares of the business services provider’s stock valued at $16,464,000 after purchasing an additional 6,526 shares during the last quarter. Thoroughbred Financial Services LLC acquired a new position in Republic Services in the second quarter valued at about $277,000. Parallel Advisors LLC boosted its stake in Republic Services by 3.4% during the second quarter. Parallel Advisors LLC now owns 3,648 shares of the business services provider’s stock worth $709,000 after buying an additional 120 shares during the period. Dai ichi Life Insurance Company Ltd raised its stake in shares of Republic Services by 1.8% in the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 107,046 shares of the business services provider’s stock valued at $20,803,000 after acquiring an additional 1,944 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in shares of Republic Services by 23.5% in the 2nd quarter. Federated Hermes Inc. now owns 12,594 shares of the business services provider’s stock worth $2,448,000 after acquiring an additional 2,393 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Stock Up 0.3 %

RSG stock opened at $205.79 on Monday. The company’s 50 day moving average is $201.84 and its two-hundred day moving average is $193.23. Republic Services, Inc. has a twelve month low of $140.23 and a twelve month high of $208.69. 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 stock has a market cap of $64.63 billion, a P/E ratio of 36.10, a PEG ratio of 3.29 and a beta of 0.70.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.08. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. The firm had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $4.03 billion. Research analysts expect that Republic Services, Inc. will post 6.18 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be issued a $0.58 dividend. This is an increase from Republic Services’s previous quarterly dividend of $0.54. This represents a $2.32 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Wednesday, October 2nd. Republic Services’s dividend payout ratio is presently 37.54%.

Insider Transactions at Republic Services

In related news, Director Tomago Collins sold 3,200 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $203.01, for a total transaction of $649,632.00. Following the completion of the sale, the director now owns 17,486 shares in the company, valued at approximately $3,549,832.86. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Raymond James cut their target price on Republic Services from $219.00 to $214.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. BMO Capital Markets increased their target price on Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft began coverage on shares of Republic Services in a research note on Thursday, May 23rd. They set a “hold” rating and a $203.00 price target on the stock. Stifel Nicolaus lifted their price objective on shares of Republic Services from $215.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Truist Financial upgraded shares of Republic Services from a “hold” rating to a “buy” rating and increased their target price for the stock from $192.00 to $220.00 in a report on Thursday, July 11th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Republic Services currently has an average rating of “Hold” and an average target price of $211.00.

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.