Republic Services, Inc. (NYSE:RSG) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. reduced its stake in shares of Republic Services, Inc. (NYSE:RSG) by 8.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,884,430 shares of the business services provider’s stock after selling 164,124 shares during the period. Franklin Resources Inc. owned 0.60% of Republic Services worth $379,110,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RSG. Norges Bank purchased a new stake in shares of Republic Services in the fourth quarter valued at $553,039,000. Stifel Financial Corp lifted its holdings in Republic Services by 437.9% in 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 in the last quarter. Wellington Management Group LLP boosted its stake in shares of Republic Services by 23.2% during 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 during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Republic Services during the fourth quarter worth about $184,827,000. Finally, 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 valued at $626,553,000 after buying an additional 509,116 shares during the period. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Morgan Stanley boosted their price target on Republic Services from $220.00 to $230.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Cibc World Mkts upgraded Republic Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 4th. UBS Group lifted their price target on Republic Services from $212.00 to $240.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Truist Financial reiterated a “buy” rating and set a $250.00 price objective (up from $244.00) on shares of Republic Services in a report on Friday, February 14th. Finally, Jefferies Financial Group upped their price target on shares of Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $236.88.

Republic Services Stock Performance

Republic Services stock opened at $242.42 on Tuesday. The firm has a market capitalization of $75.70 billion, a PE ratio of 37.35, a price-to-earnings-growth ratio of 3.64 and a beta of 0.73. Republic Services, Inc. has a one year low of $180.92 and a one year high of $243.13. The stock’s 50 day moving average price is $228.29 and its 200 day moving average price is $214.13. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58.

Republic Services (NYSE:RSG) last announced its earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.21. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the prior year, the firm earned $1.41 earnings per share. As a group, sell-side analysts expect that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s dividend payout ratio (DPR) is 35.75%.

Insider Buying and Selling at Republic Services

In other news, COO Gregg Brummer sold 6,293 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the completion of the sale, the chief operating officer now owns 10,416 shares of the company’s stock, valued at approximately $2,376,931.20. This trade represents a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.09% of the stock is owned by insiders.

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.