Massachusetts Financial Services Co. MA Buys 10,303 Shares of Republic Services, Inc. (NYSE:RSG)

Massachusetts Financial Services Co. MA boosted its stake in Republic Services, Inc. (NYSE:RSG) by 3.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 275,465 shares of the business services provider’s stock after buying an additional 10,303 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Republic Services were worth $55,324,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

RSG has been the topic of several research analyst reports. Oppenheimer increased their target price on Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. StockNews.com cut shares of Republic Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. William Blair initiated coverage on shares of Republic Services in a research report on Thursday, October 3rd. They set an “outperform” rating on the stock. Morgan Stanley raised their price target on shares of Republic Services from $208.00 to $217.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Truist Financial increased their price objective on Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $215.71.

Republic Services Stock Up 1.3 %

Republic Services stock opened at $216.79 on Monday. The company has a 50 day moving average of $204.56 and a 200-day moving average of $199.01. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. Republic Services, Inc. has a twelve month low of $159.10 and a twelve month high of $216.86. The stock has a market capitalization of $67.89 billion, a PE ratio of 34.69, a price-to-earnings-growth ratio of 3.27 and a beta of 0.70.

Republic Services (NYSE:RSG) last released its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.20. The firm had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The company’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.54 EPS. On average, equities research analysts anticipate that Republic Services, Inc. will post 6.24 EPS for the current fiscal year.

Republic Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Thursday, January 2nd. Republic Services’s dividend payout ratio (DPR) is currently 37.12%.

Insider Transactions at Republic Services

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the firm’s stock in a transaction dated 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.09% of the company’s stock.

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.