Jennison Associates LLC Trims Position in Republic Services, Inc. (NYSE:RSG)

Jennison Associates LLC reduced its position in Republic Services, Inc. (NYSE:RSG – Free Report) by 65.7% in the first quarter, Holdings Channel.com reports. The fund owned 63,016 shares of the business services provider’s stock after selling 120,636 shares during the quarter. Jennison Associates LLC’s holdings in Republic Services were worth $8,521,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Veriti Management LLC increased its holdings in shares of Republic Services by 21.7% in the 4th quarter. Veriti Management LLC now owns 6,325 shares of the business services provider’s stock worth $816,000 after buying an additional 1,127 shares during the last quarter. Maryland State Retirement & Pension System raised its position in Republic Services by 1.7% during the first quarter. Maryland State Retirement & Pension System now owns 16,313 shares of the business services provider’s stock valued at $2,206,000 after purchasing an additional 273 shares in the last quarter. Cumberland Partners Ltd bought a new stake in Republic Services during the fourth quarter worth about $813,000. Aviva PLC boosted its holdings in shares of Republic Services by 17.3% in the 4th quarter. Aviva PLC now owns 182,563 shares of the business services provider’s stock worth $23,549,000 after purchasing an additional 26,984 shares in the last quarter. Finally, Czech National Bank raised its holdings in shares of Republic Services by 0.6% during the 1st quarter. Czech National Bank now owns 24,197 shares of the business services provider’s stock valued at $3,272,000 after buying an additional 155 shares in the last quarter. Institutional investors own 64.36% of the company’s stock.

Wall Street Analyst Weigh In

RSG has been the topic of several research reports. TD Cowen started coverage on shares of Republic Services in a research note on Thursday, March 30th. They set a “market perform” rating and a $150.00 price target on the stock. StockNews.com initiated coverage on shares of Republic Services in a research note on Thursday, May 18th. They issued a “buy” rating for the company. Oppenheimer raised their price target on Republic Services from $153.00 to $158.00 and gave the stock an “outperform” rating in a research report on Friday. Truist Financial assumed coverage on Republic Services in a research report on Monday, April 17th. They issued a “hold” rating and a $146.00 price objective for the company. Finally, VNET Group reaffirmed a “maintains” rating on shares of Republic Services in a research note on Thursday, April 27th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $147.80.

Republic Services Stock Up 0.3 %

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Shares of NYSE RSG opened at $149.98 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 1.16. Republic Services, Inc. has a 12 month low of $120.58 and a 12 month high of $153.38. The firm has a market capitalization of $47.44 billion, a PE ratio of 31.31, a price-to-earnings-growth ratio of 2.99 and a beta of 0.67. The firm has a fifty day simple moving average of $146.32 and a two-hundred day simple moving average of $136.21.

Republic Services (NYSE:RSG – Get Free Report) last issued its quarterly earnings results on Thursday, April 27th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.11. The company had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.43 billion. Republic Services had a net margin of 10.76% and a return on equity of 16.66%. Republic Services’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same period last year, the business earned $1.14 EPS. Equities analysts expect that Republic Services, Inc. will post 5.24 earnings per share for the current year.

Republic Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Monday, July 3rd were paid a $0.495 dividend. The ex-dividend date of this dividend was Friday, June 30th. This represents a $1.98 annualized dividend and a dividend yield of 1.32%. Republic Services’s payout ratio is 41.34%.

About Republic Services

(Free Report)

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States. 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.