SouthState Corp Reduces Holdings in Republic Services, Inc. (NYSE:RSG)

SouthState Corp lowered its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,381 shares of the business services provider’s stock after selling 272 shares during the period. SouthState Corp’s holdings in Republic Services were worth $3,526,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in shares of Republic Services by 0.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,658,978 shares of the business services provider’s stock valued at $948,971,000 after purchasing an additional 44,512 shares in the last quarter. Morgan Stanley increased its holdings in Republic Services by 4.1% during the 3rd quarter. Morgan Stanley now owns 5,054,359 shares of the business services provider’s stock valued at $720,297,000 after acquiring an additional 197,654 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Republic Services by 2.9% during the third quarter. Nordea Investment Management AB now owns 3,790,052 shares of the business services provider’s stock worth $547,473,000 after buying an additional 107,499 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Republic Services by 0.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,727,719 shares of the business services provider’s stock worth $531,237,000 after buying an additional 13,166 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Republic Services by 4.8% during the third quarter. Northern Trust Corp now owns 2,376,009 shares of the business services provider’s stock worth $338,605,000 after buying an additional 109,437 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Analyst Ratings Changes

RSG has been the topic of several research analyst reports. Royal Bank of Canada initiated coverage on shares of Republic Services in a research report on Monday, April 8th. They issued a “sector perform” rating and a $198.00 target price on the stock. Oppenheimer lifted their price target on shares of Republic Services from $202.00 to $204.00 and gave the company an “outperform” rating in a research report on Wednesday. UBS Group lifted their price target on shares of Republic Services from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Wednesday. Wells Fargo & Company lifted their price target on shares of Republic Services from $180.00 to $188.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. Finally, Scotiabank lifted their price target on shares of Republic Services from $211.00 to $213.00 and gave the company a “sector perform” rating in a research report on Wednesday. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $201.00.

Insider Activity at Republic Services

In other Republic Services news, CEO Ark Jon Vander sold 5,446 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was 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 directly owns 85,113 shares of the company’s stock, valued at approximately $15,669,303.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is currently owned by company insiders.

Republic Services Stock Performance

Shares of RSG traded up $0.44 during mid-day trading on Thursday, hitting $186.44. The company’s stock had a trading volume of 2,025,710 shares, compared to its average volume of 1,257,153. Republic Services, Inc. has a one year low of $140.07 and a one year high of $196.76. 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 capitalization of $58.72 billion, a PE ratio of 32.65, a price-to-earnings-growth ratio of 3.35 and a beta of 0.67. The stock’s 50-day moving average is $187.94 and its two-hundred day moving average is $171.57.

Republic Services (NYSE:RSG) last issued its earnings results on Tuesday, April 30th. The business services provider reported $1.45 EPS for the quarter, topping the consensus estimate of $1.35 by $0.10. The firm had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Republic Services had a return on equity of 17.75% and a net margin of 11.81%. Republic Services’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the business earned $1.24 earnings per share. As a group, sell-side analysts anticipate that Republic Services, Inc. will post 6.01 EPS for the current year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, July 2nd will be issued a dividend of $0.535 per share. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.15%. Republic Services’s payout ratio is presently 37.54%.

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.