Mackenzie Financial Corp Decreases Holdings in Republic Services, Inc. (NYSE:RSG)

Mackenzie Financial Corp cut its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 265,371 shares of the business services provider’s stock after selling 1,259 shares during the quarter. Mackenzie Financial Corp owned 0.08% of Republic Services worth $43,762,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in RSG. D.A. Davidson & CO. bought a new position in shares of Republic Services in the first quarter worth approximately $203,000. Synovus Financial Corp grew its holdings in shares of Republic Services by 1.9% in the first quarter. Synovus Financial Corp now owns 14,255 shares of the business services provider’s stock worth $1,890,000 after purchasing an additional 260 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in Republic Services by 34.6% in the first quarter. Vontobel Holding Ltd. now owns 3,885 shares of the business services provider’s stock valued at $523,000 after acquiring an additional 998 shares in the last quarter. Blair William & Co. IL boosted its holdings in Republic Services by 1.6% in the first quarter. Blair William & Co. IL now owns 31,162 shares of the business services provider’s stock valued at $4,129,000 after acquiring an additional 495 shares in the last quarter. Finally, Moors & Cabot Inc. boosted its holdings in Republic Services by 2.9% in the first quarter. Moors & Cabot Inc. now owns 6,726 shares of the business services provider’s stock valued at $891,000 after acquiring an additional 187 shares in the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RSG has been the topic of several recent analyst reports. Stifel Nicolaus lifted their price target on shares of Republic Services from $175.00 to $187.00 and gave the company a “buy” rating in a report on Tuesday, December 19th. Scotiabank assumed 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. UBS Group cut shares of Republic Services from a “buy” rating to a “neutral” rating and boosted their target price for the company from $175.00 to $195.00 in a report on Thursday, February 29th. Truist Financial boosted their target price on shares of Republic Services from $175.00 to $192.00 and gave the company a “hold” rating in a report on Wednesday, February 28th. Finally, The Goldman Sachs Group boosted their target price on shares of Republic Services from $209.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Republic Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.77.

Republic Services Price Performance

Shares of NYSE:RSG opened at $187.47 on Wednesday. Republic Services, Inc. has a fifty-two week low of $135.33 and a fifty-two week high of $192.57. The business has a 50-day simple moving average of $185.00 and a two-hundred day simple moving average of $168.20. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market cap of $59.05 billion, a price-to-earnings ratio of 34.27, a price-to-earnings-growth ratio of 3.27 and a beta of 0.68.

Republic Services (NYSE:RSG) last issued its earnings results on Tuesday, February 27th. The business services provider reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.13. Republic Services had a return on equity of 17.32% and a net margin of 11.57%. The business had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.73 billion. During the same quarter in the previous year, the firm earned $1.13 EPS. Republic Services’s revenue was up 8.6% on a year-over-year basis. On average, analysts expect that Republic Services, Inc. will post 6.01 earnings per share for the current year.

Republic Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Tuesday, April 2nd were given a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend was Monday, April 1st. Republic Services’s payout ratio is currently 39.12%.

Insider Activity

In other news, CEO Ark Jon Vander sold 5,446 shares of the company’s 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 completion of the sale, the chief executive officer now owns 85,113 shares of the company’s stock, valued at approximately $15,669,303.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.