Republic Services, Inc. (NYSE:RSG) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. boosted its stake in shares of Republic Services, Inc. (NYSE:RSG) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,759 shares of the business services provider’s stock after buying an additional 271 shares during the quarter. Federated Hermes Inc.’s holdings in Republic Services were worth $1,939,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RSG. Magellan Asset Management Ltd lifted its holdings in shares of Republic Services by 1,497,159.0% in the third quarter. Magellan Asset Management Ltd now owns 913,328 shares of the business services provider’s stock valued at $130,158,000 after purchasing an additional 913,267 shares in the last quarter. FMR LLC lifted its holdings in shares of Republic Services by 34.4% in the third quarter. FMR LLC now owns 2,202,405 shares of the business services provider’s stock valued at $313,865,000 after purchasing an additional 563,761 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in shares of Republic Services in the fourth quarter valued at about $77,417,000. Envestnet Asset Management Inc. lifted its holdings in shares of Republic Services by 50.9% in the third quarter. Envestnet Asset Management Inc. now owns 900,653 shares of the business services provider’s stock valued at $128,352,000 after purchasing an additional 303,754 shares in the last quarter. Finally, Panagora Asset Management Inc. lifted its holdings in shares of Republic Services by 1,383.0% in the third quarter. Panagora Asset Management Inc. now owns 241,098 shares of the business services provider’s stock valued at $34,359,000 after purchasing an additional 224,841 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RSG has been the topic of several recent research reports. Scotiabank initiated coverage on shares of Republic Services in a report on Monday, April 8th. They issued a “sector perform” rating and a $211.00 price target on the stock. The Goldman Sachs Group upped their price objective on shares of Republic Services from $209.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Citigroup upped their price objective on shares of Republic Services from $190.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Wells Fargo & Company upped their price objective on shares of Republic Services from $180.00 to $188.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Finally, UBS Group downgraded shares of Republic Services from a “buy” rating to a “neutral” rating and upped their price objective for the company 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $199.77.

Insider Transactions at Republic Services

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

Republic Services Stock Performance

NYSE:RSG opened at $191.92 on Monday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. The company has a market cap of $60.45 billion, a P/E ratio of 35.09, a P/E/G ratio of 3.36 and a beta of 0.68. Republic Services, Inc. has a fifty-two week low of $135.33 and a fifty-two week high of $193.82. The firm’s 50 day moving average is $187.36 and its two-hundred day moving average is $170.83.

Republic Services (NYSE:RSG) last released 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. Republic Services had a net margin of 11.57% and a return on equity of 17.32%. The company had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.73 billion. During the same quarter in the prior year, the business earned $1.13 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. Analysts expect that Republic Services, Inc. will post 6.01 EPS for the current year.

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, July 2nd will be given a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Tuesday, July 2nd. Republic Services’s payout ratio is currently 39.12%.

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.