Republic Services, Inc. (NYSE:RSG) Stock Position Lessened by Banco Santander S.A.

Banco Santander S.A. reduced its stake in shares of Republic Services, Inc. (NYSE:RSG) by 60.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,195 shares of the business services provider’s stock after selling 1,850 shares during the quarter. Banco Santander S.A.’s holdings in Republic Services were worth $240,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of RSG. Allspring Global Investments Holdings LLC lifted its stake in shares of Republic Services by 2.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,520,738 shares of the business services provider’s stock worth $506,265,000 after acquiring an additional 57,040 shares during the period. Legal & General Group Plc raised its holdings in shares of Republic Services by 5.4% in the 2nd quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider’s stock worth $351,480,000 after purchasing an additional 92,013 shares in the last quarter. TD Asset Management Inc lifted its stake in Republic Services by 2.1% during the second quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider’s stock valued at $341,602,000 after purchasing an additional 35,650 shares during the last quarter. Bank of New York Mellon Corp grew its position in Republic Services by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 1,476,116 shares of the business services provider’s stock worth $286,868,000 after buying an additional 3,809 shares during the last quarter. Finally, Earnest Partners LLC increased its holdings in shares of Republic Services by 1.9% in the second quarter. Earnest Partners LLC now owns 1,286,053 shares of the business services provider’s stock valued at $249,932,000 after buying an additional 23,534 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Transactions at Republic Services

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the completion of the sale, the chief financial officer now owns 6,318 shares in the company, valued at $1,326,906.36. This trade represents a 44.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.09% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on RSG shares. Scotiabank assumed coverage on Republic Services in a research note on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price target on the stock. Truist Financial boosted their target price on shares of Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Royal Bank of Canada boosted their price objective on shares of Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Morgan Stanley upped their price target on shares of Republic Services from $208.00 to $217.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, William Blair began coverage on Republic Services in a research report on Thursday, October 3rd. They issued an “outperform” rating on the stock. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $215.71.

Republic Services Price Performance

Shares of RSG stock opened at $216.79 on Friday. The company has a market capitalization of $67.89 billion, a P/E ratio of 34.69, a P/E/G ratio of 3.27 and a beta of 0.70. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. Republic Services, Inc. has a 12 month low of $159.10 and a 12 month high of $216.86. The stock has a 50 day moving average of $204.56 and a two-hundred day moving average of $198.93.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.20. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The firm had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same quarter in the previous year, the firm posted $1.54 EPS. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities analysts expect that Republic Services, Inc. will post 6.24 EPS for the current year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be paid a $0.58 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.07%. Republic Services’s dividend payout ratio is currently 37.12%.

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.