Elo Mutual Pension Insurance Co Acquires 2,025 Shares of Republic Services, Inc. (NYSE:RSG)

Elo Mutual Pension Insurance Co raised its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 10.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,485 shares of the business services provider’s stock after purchasing an additional 2,025 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Republic Services were worth $4,322,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in RSG. Vanguard Group Inc. lifted its holdings in Republic Services by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 18,590,728 shares of the business services provider’s stock valued at $3,740,083,000 after buying an additional 144,719 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Republic Services by 23.2% during the third 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 acquiring an additional 1,131,850 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Republic Services by 1.7% in the third quarter. Geode Capital Management LLC now owns 4,507,521 shares of the business services provider’s stock valued at $903,316,000 after purchasing an additional 73,207 shares during the period. Nordea Investment Management AB grew its stake 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 worth $626,553,000 after purchasing an additional 509,116 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Republic Services by 1.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,546,088 shares of the business services provider’s stock worth $509,462,000 after purchasing an additional 25,350 shares during the period. 57.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RSG has been the subject of several research reports. Jefferies Financial Group upped their target price on Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Cibc World Mkts upgraded shares of Republic Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 4th. Argus set a $260.00 price target on shares of Republic Services in a report on Tuesday, February 18th. BMO Capital Markets upgraded shares of Republic Services from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $211.00 to $238.00 in a research note on Friday, December 6th. Finally, CIBC raised shares of Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 price objective for the company in a research note on Tuesday, March 4th. Five 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 stock. According to MarketBeat.com, Republic Services currently has a consensus rating of “Moderate Buy” and an average target price of $236.88.

Republic Services Price Performance

Shares of RSG stock opened at $239.98 on Friday. The firm has a market capitalization of $74.94 billion, a price-to-earnings ratio of 36.98, a PEG ratio of 3.64 and a beta of 0.73. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. The stock’s 50-day simple moving average is $227.23 and its 200-day simple moving average is $213.52. Republic Services, Inc. has a fifty-two week low of $180.92 and a fifty-two week high of $241.09.

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

Republic Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s dividend payout ratio is presently 35.75%.

Insider Transactions at Republic Services

In related news, COO Gregg Brummer sold 6,293 shares of the company’s stock in a transaction that occurred 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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.