Meiji Yasuda Asset Management Co Ltd. Has $11.67 Million Holdings in Republic Services, Inc. (NYSE:RSG)

Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Republic Services, Inc. (NYSE:RSG) by 0.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 58,019 shares of the business services provider’s stock after purchasing an additional 369 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Republic Services were worth $11,672,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Stifel Financial Corp lifted its stake in shares of Republic Services by 437.9% in the third quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock worth $364,449,000 after acquiring an additional 1,477,255 shares during the period. Wellington Management Group LLP boosted its stake in shares of Republic Services by 23.2% in the 3rd quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider’s stock valued at $1,205,883,000 after purchasing an additional 1,131,850 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Republic Services during the fourth quarter worth $184,827,000. Nordea Investment Management AB lifted its holdings in Republic Services by 19.4% in the fourth quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock valued at $626,553,000 after buying an additional 509,116 shares during the period. Finally, National Bank of Canada FI boosted its position in Republic Services by 544.7% during the third quarter. National Bank of Canada FI now owns 545,613 shares of the business services provider’s stock valued at $109,580,000 after acquiring an additional 460,989 shares during the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Stock Up 1.2 %

Shares of NYSE:RSG opened at $236.16 on Tuesday. The business’s 50 day moving average is $225.49 and its 200 day moving average is $212.92. Republic Services, Inc. has a 12-month low of $180.92 and a 12-month high of $240.95. The stock has a market cap of $73.75 billion, a price-to-earnings ratio of 36.39, a PEG ratio of 3.64 and a beta of 0.73. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04.

Republic Services (NYSE:RSG) last posted its earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.21. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the prior year, the business posted $1.41 EPS. On average, sell-side analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be paid a $0.58 dividend. The ex-dividend date is Wednesday, April 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.98%. Republic Services’s payout ratio is presently 35.75%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on RSG shares. UBS Group upped their target price on Republic Services from $212.00 to $240.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Argus set a $260.00 price objective on shares of Republic Services in a research report on Tuesday, February 18th. William Blair reiterated an “outperform” rating on shares of Republic Services in a research report on Friday, February 14th. The Goldman Sachs Group raised their price target on shares of Republic Services from $239.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Finally, Truist Financial reissued a “buy” rating and set a $250.00 price objective (up previously from $244.00) on shares of Republic Services in a research report on Friday, February 14th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $236.88.

Insider Activity

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total value of $1,436,062.60. Following the completion of the transaction, the chief operating officer now owns 10,416 shares in the company, valued at $2,376,931.20. This represents a 37.66 % decrease in their position. The sale 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 corporate 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.