abrdn plc Boosts Position in Republic Services, Inc. (NYSE:RSG)

abrdn plc grew its position in Republic Services, Inc. (NYSE:RSG) by 64.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 96,531 shares of the business services provider’s stock after purchasing an additional 37,690 shares during the period. abrdn plc’s holdings in Republic Services were worth $15,919,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. FinTrust Capital Advisors LLC raised its position in Republic Services by 56.3% during the third quarter. FinTrust Capital Advisors LLC now owns 197 shares of the business services provider’s stock worth $28,000 after acquiring an additional 71 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Republic Services during the 4th quarter worth approximately $34,000. Millburn Ridgefield Corp purchased a new stake in Republic Services in the 3rd quarter valued at approximately $36,000. Catalyst Capital Advisors LLC acquired a new stake in Republic Services during the 3rd quarter valued at $36,000. Finally, BKM Wealth Management LLC purchased a new position in Republic Services during the fourth quarter worth $37,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Transactions at Republic Services

In other news, CEO Ark Jon Vander sold 5,446 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the transaction, the chief executive officer now owns 85,113 shares of the company’s stock, valued at $15,669,303.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. BMO Capital Markets increased their price objective on Republic Services from $173.00 to $195.00 and gave the company a “market perform” rating in a research note on Wednesday, February 28th. Scotiabank initiated coverage on shares of Republic Services in a report on Monday, April 8th. They set a “sector perform” rating and a $211.00 price target for the company. Truist Financial upped their price objective on shares of Republic Services from $175.00 to $192.00 and gave the company a “hold” rating in a research note on Wednesday, February 28th. Jefferies Financial Group lifted their target price on shares of Republic Services from $213.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Finally, UBS Group lowered Republic Services from a “buy” rating to a “neutral” rating and increased their price target for the stock from $175.00 to $195.00 in a research note on Thursday, February 29th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $199.77.

Republic Services Stock Performance

Republic Services stock opened at $191.99 on Thursday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. The firm’s fifty day moving average price is $186.86 and its 200 day moving average price is $170.01. The company has a market capitalization of $60.47 billion, a price-to-earnings ratio of 35.10, a price-to-earnings-growth ratio of 3.33 and a beta of 0.68. Republic Services, Inc. has a 12-month low of $135.33 and a 12-month high of $192.99.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Tuesday, February 27th. The business services provider reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.13. The company had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.73 billion. Republic Services had a return on equity of 17.32% and a net margin of 11.57%. Republic Services’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.13 EPS. On average, research analysts forecast that Republic Services, Inc. will post 6.01 EPS for the current fiscal year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Tuesday, April 2nd were issued a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Monday, April 1st. Republic Services’s dividend payout ratio is currently 39.12%.

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.