Sycomore Asset Management Boosts Stake in Republic Services, Inc. (NYSE:RSG)

Sycomore Asset Management boosted its stake in Republic Services, Inc. (NYSE:RSG) by 44.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,657 shares of the business services provider’s stock after buying an additional 6,699 shares during the quarter. Sycomore Asset Management’s holdings in Republic Services were worth $3,547,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. JPMorgan Chase & Co. raised its holdings in Republic Services by 0.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,658,978 shares of the business services provider’s stock valued at $948,971,000 after acquiring an additional 44,512 shares during the last quarter. Morgan Stanley increased its holdings in shares of Republic Services by 4.1% during the 3rd quarter. Morgan Stanley now owns 5,054,359 shares of the business services provider’s stock worth $720,297,000 after buying an additional 197,654 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Republic Services by 2.9% during the 3rd quarter. Nordea Investment Management AB now owns 3,790,052 shares of the business services provider’s stock worth $547,473,000 after buying an additional 107,499 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Republic Services by 0.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,727,719 shares of the business services provider’s stock valued at $531,237,000 after purchasing an additional 13,166 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Republic Services by 4.8% in the 3rd quarter. Northern Trust Corp now owns 2,376,009 shares of the business services provider’s stock valued at $338,605,000 after purchasing an additional 109,437 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Ark Jon Vander sold 5,446 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 85,113 shares in the company, valued at $15,669,303.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.09% of the stock is owned by company insiders.

Republic Services Stock Up 0.7 %

Shares of RSG stock traded up $1.38 during trading hours on Wednesday, hitting $191.99. 1,135,541 shares of the company were exchanged, compared to its average volume of 1,203,355. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. Republic Services, Inc. has a one year low of $135.33 and a one year high of $192.99. The business’s 50-day simple moving average is $186.86 and its two-hundred day simple moving average is $170.01. The stock has a market capitalization of $60.47 billion, a price-to-earnings ratio of 35.10, a P/E/G ratio of 3.35 and a beta of 0.68.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, February 27th. The business services provider reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.13. The firm had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.73 billion. Republic Services had a net margin of 11.57% and a return on equity of 17.32%. Republic Services’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.13 earnings per share. Sell-side analysts predict that Republic Services, Inc. will post 6.01 EPS for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date was Monday, April 1st. This represents a $2.14 annualized dividend and a yield of 1.11%. Republic Services’s dividend payout ratio (DPR) is 39.12%.

Analyst Ratings Changes

Several brokerages recently issued reports on RSG. Wells Fargo & Company increased their price target on Republic Services from $180.00 to $188.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Morgan Stanley cut shares of Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 price objective for the company. in a research report on Friday, March 15th. Scotiabank began coverage on shares of Republic Services in a research report on Monday, April 8th. They issued a “sector perform” rating and a $211.00 price objective for the company. Oppenheimer upped their price objective on shares of Republic Services from $182.00 to $195.00 and gave the company an “outperform” rating in a research report on Wednesday, February 28th. Finally, UBS Group cut shares of Republic Services from a “buy” rating to a “neutral” rating and upped their price objective for the company from $175.00 to $195.00 in a research report on Thursday, February 29th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $199.77.

About Republic Services

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.