AlphaCentric Advisors LLC Decreases Stock Holdings in Republic Services, Inc. (NYSE:RSG)

AlphaCentric Advisors LLC trimmed its position in shares of Republic Services, Inc. (NYSE:RSG) by 2.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,967 shares of the business services provider’s stock after selling 53 shares during the period. AlphaCentric Advisors LLC’s holdings in Republic Services were worth $396,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Wellington Management Group LLP boosted its position in shares of Republic Services by 23.2% in the 3rd quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider’s stock worth $1,205,883,000 after purchasing an additional 1,131,850 shares in the last quarter. Geode Capital Management LLC grew its position in Republic Services by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,507,521 shares of the business services provider’s stock worth $903,316,000 after purchasing an additional 73,207 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Republic Services by 19.4% during 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 buying an additional 509,116 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Republic Services by 1.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,546,088 shares of the business services provider’s stock valued at $509,462,000 after acquiring an additional 25,350 shares during the period. Finally, Stifel Financial Corp grew its stake in Republic Services by 437.9% during the 3rd quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock valued at $364,449,000 after purchasing an additional 1,477,255 shares during the last quarter. Institutional investors own 57.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RSG. Oppenheimer upped their target price on Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a “hold” rating to a “buy” rating and raised their target price for the stock from $219.00 to $237.00 in a report on Tuesday, December 10th. Truist Financial reaffirmed a “buy” rating and issued a $250.00 price target (up from $244.00) on shares of Republic Services in a report on Friday. William Blair reiterated an “outperform” rating on shares of Republic Services in a research note on Friday. Finally, BMO Capital Markets raised Republic Services from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $211.00 to $238.00 in a report on Friday, December 6th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Republic Services presently has a consensus rating of “Moderate Buy” and an average target price of $225.38.

Republic Services Price Performance

Shares of Republic Services stock opened at $230.98 on Monday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64. The business has a 50 day simple moving average of $210.94 and a two-hundred day simple moving average of $207.43. The stock has a market capitalization of $72.33 billion, a P/E ratio of 36.96, a PEG ratio of 3.24 and a beta of 0.74. Republic Services, Inc. has a 12 month low of $177.03 and a 12 month high of $232.52.

Republic Services (NYSE:RSG) last announced its earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.21. The company had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. During the same quarter in the previous year, the company posted $1.41 EPS. As a group, analysts predict that Republic Services, Inc. will post 6.25 EPS for the current fiscal year.

Republic Services Announces Dividend

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 $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services’s dividend payout ratio (DPR) is 37.12%.

Insider Transactions at Republic Services

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total value of $1,065,011.42. Following the completion of the sale, the chief financial officer now directly owns 6,318 shares in the company, valued at $1,326,906.36. This represents a 44.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Katharine Weymouth sold 1,859 shares of Republic Services stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total value of $400,186.93. Following the transaction, the director now owns 879 shares in the company, valued at approximately $189,222.33. This represents a 67.90 % decrease in their position. The disclosure for this sale can be found here. 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.