Republic Services, Inc. (NYSE:RSG) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp decreased its stake in shares of Republic Services, Inc. (NYSE:RSG) by 6.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 239,894 shares of the business services provider’s stock after selling 16,111 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.08% of Republic Services worth $48,262,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Republic Services by 0.6% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 58,019 shares of the business services provider’s stock worth $11,672,000 after purchasing an additional 369 shares during the last quarter. PKS Advisory Services LLC acquired a new stake in Republic Services during the fourth quarter worth approximately $221,000. TIAA Trust National Association raised its holdings in Republic Services by 5.6% in the 4th quarter. TIAA Trust National Association now owns 3,288 shares of the business services provider’s stock valued at $661,000 after acquiring an additional 175 shares during the last quarter. Taikang Asset Management Hong Kong Co Ltd lifted its stake in shares of Republic Services by 58.8% during the 4th quarter. Taikang Asset Management Hong Kong Co Ltd now owns 3,335 shares of the business services provider’s stock worth $671,000 after purchasing an additional 1,235 shares during the period. Finally, CoreFirst Bank & Trust purchased a new stake in shares of Republic Services in the fourth quarter valued at $151,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Stock Up 0.8 %

RSG stock opened at $237.91 on Wednesday. The firm has a market cap of $74.30 billion, a price-to-earnings ratio of 36.66, a PEG ratio of 3.64 and a beta of 0.73. Republic Services, Inc. has a 1-year low of $180.92 and a 1-year high of $240.95. The firm has a fifty day moving average price of $226.10 and a two-hundred day moving average price of $213.16. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64.

Republic Services (NYSE:RSG) last released its quarterly earnings data 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 12.74% and a return on equity of 18.28%. The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the prior year, the business earned $1.41 earnings per share. Research analysts predict that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RSG. The Goldman Sachs Group raised their price target on Republic Services from $239.00 to $265.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Truist Financial reaffirmed a “buy” rating and set a $250.00 price target (up previously from $244.00) on shares of Republic Services in a research report on Friday, February 14th. Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a “hold” rating to a “buy” rating and boosted their price objective for the company from $219.00 to $237.00 in a research note on Tuesday, December 10th. UBS Group lifted their target price on Republic Services from $212.00 to $240.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Finally, Argus set a $260.00 price objective on Republic Services in a report on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Republic Services has an average rating of “Moderate Buy” and a consensus target price of $236.88.

Insider Activity at Republic Services

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the completion of the transaction, the chief operating officer now directly owns 10,416 shares of the company’s stock, valued at approximately $2,376,931.20. This trade represents a 37.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.09% of the company’s stock.

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.