Nuveen Asset Management LLC Grows Holdings in Republic Services, Inc. (NYSE:RSG)

Nuveen Asset Management LLC grew its stake in shares of Republic Services, Inc. (NYSE:RSG) by 9.2% in the fourth quarter, Holdings Channel reports. The firm owned 811,097 shares of the business services provider’s stock after acquiring an additional 68,476 shares during the period. Nuveen Asset Management LLC’s holdings in Republic Services were worth $163,176,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Arcadia Investment Management Corp MI boosted its position in Republic Services by 200.0% in the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock valued at $27,000 after buying an additional 88 shares during the period. R Squared Ltd purchased a new stake in shares of Republic Services in the fourth quarter valued at approximately $32,000. New Age Alpha Advisors LLC grew its stake in Republic Services by 70.2% in the fourth quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider’s stock worth $36,000 after purchasing an additional 73 shares in the last quarter. Generali Asset Management SPA SGR purchased a new position in Republic Services during the 4th quarter worth $45,000. Finally, Bank of Jackson Hole Trust bought a new stake in Republic Services during the 4th quarter valued at $48,000. 57.73% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction dated Wednesday, February 19th. The stock was 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 $2,376,931.20. The trade was a 37.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.11% of the company’s stock.

Republic Services Stock Up 2.9%

Shares of RSG stock opened at $244.95 on Friday. The stock’s fifty day moving average price is $240.68 and its 200 day moving average price is $223.63. Republic Services, Inc. has a 1-year low of $180.92 and a 1-year high of $253.54. The company has a market cap of $76.55 billion, a price-to-earnings ratio of 37.74, a price-to-earnings-growth ratio of 3.64 and a beta of 0.66. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.05. The business had revenue of $4.01 billion for the quarter, compared to analyst estimates of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The company’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.45 earnings per share. On average, research analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 2nd will be paid a dividend of $0.58 per share. The ex-dividend date is Wednesday, July 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 0.95%. Republic Services’s payout ratio is 34.99%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RSG. UBS Group increased their price target on Republic Services from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Friday, April 11th. BMO Capital Markets raised their target price on shares of Republic Services from $260.00 to $268.00 and gave the company an “outperform” rating in a research report on Friday, April 25th. CIBC raised shares of Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 price target for the company in a research report on Tuesday, March 4th. William Blair reiterated an “outperform” rating on shares of Republic Services in a research note on Friday, April 25th. Finally, Truist Financial boosted their price objective on shares of Republic Services from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday, April 22nd. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $249.00.

Republic Services 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.