Meiji Yasuda Asset Management Co Ltd. Buys 4,059 Shares of Republic Services, Inc. (NYSE:RSG)

Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of Republic Services, Inc. (NYSE:RSG) by 7.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 57,751 shares of the business services provider’s stock after acquiring an additional 4,059 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Republic Services were worth $11,223,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Unigestion Holding SA grew its position in shares of Republic Services by 2,178.2% during the fourth quarter. Unigestion Holding SA now owns 127,647 shares of the business services provider’s stock valued at $21,048,000 after purchasing an additional 122,044 shares in the last quarter. Bank of Nova Scotia increased its stake in Republic Services by 52.3% in the 4th quarter. Bank of Nova Scotia now owns 214,504 shares of the business services provider’s stock worth $35,357,000 after acquiring an additional 73,651 shares during the last quarter. TCW Group Inc. purchased a new stake in shares of Republic Services during the 4th quarter worth approximately $17,903,000. Hsbc Holdings PLC boosted its position in shares of Republic Services by 8.7% during the 4th quarter. Hsbc Holdings PLC now owns 456,726 shares of the business services provider’s stock valued at $75,297,000 after acquiring an additional 36,484 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its stake in shares of Republic Services by 10.4% in the 4th quarter. Allianz Asset Management GmbH now owns 591,209 shares of the business services provider’s stock worth $97,496,000 after buying an additional 55,668 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors.

Republic Services Stock Performance

Shares of RSG stock opened at $201.75 on Wednesday. The stock has a market cap of $63.36 billion, a PE ratio of 35.39, a price-to-earnings-growth ratio of 3.29 and a beta of 0.70. Republic Services, Inc. has a 52-week low of $140.23 and a 52-week high of $208.69. The business has a 50-day simple moving average of $202.17 and a 200-day simple moving average of $193.52. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.05.

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

Republic Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be given a $0.58 dividend. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.15%. Republic Services’s dividend payout ratio (DPR) is 37.54%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RSG. Truist Financial upgraded Republic Services from a “hold” rating to a “buy” rating and lifted their target price for the stock from $192.00 to $220.00 in a report on Thursday, July 11th. TD Cowen increased their price target on Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. BMO Capital Markets boosted their price objective on shares of Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. StockNews.com downgraded shares of Republic Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada increased their price objective on Republic Services from $201.00 to $211.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Republic Services has a consensus rating of “Hold” and a consensus target price of $211.00.

Insider Buying and Selling

In other news, Director Tomago Collins sold 3,200 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $203.01, for a total value of $649,632.00. Following the transaction, the director now owns 17,486 shares in the company, valued at $3,549,832.86. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.09% of the stock is currently owned by insiders.

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.