Dai ichi Life Insurance Company Ltd Sells 22,729 Shares of Republic Services, Inc. (NYSE:RSG)

Dai ichi Life Insurance Company Ltd lessened its stake in shares of Republic Services, Inc. (NYSE:RSG) by 21.2% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 84,317 shares of the business services provider’s stock after selling 22,729 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Republic Services were worth $16,934,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of Montreal Can boosted its stake in Republic Services by 3.0% in the 3rd quarter. Bank of Montreal Can now owns 391,857 shares of the business services provider’s stock valued at $78,128,000 after purchasing an additional 11,569 shares during the period. Truvestments Capital LLC bought a new position in shares of Republic Services in the third quarter worth $34,000. DRW Securities LLC acquired a new position in Republic Services in the third quarter valued at about $399,000. Prosperity Financial Group Inc. lifted its holdings in shares of Republic Services by 8.1% during the 3rd quarter. Prosperity Financial Group Inc. now owns 3,538 shares of the business services provider’s stock worth $711,000 after acquiring an additional 264 shares during the period. Finally, Daiwa Securities Group Inc. lifted its stake in Republic Services by 11.8% during the third quarter. Daiwa Securities Group Inc. now owns 26,310 shares of the business services provider’s stock worth $5,284,000 after purchasing an additional 2,786 shares during the last quarter. Institutional investors own 57.73% of the company’s stock.

Republic Services Stock Performance

Shares of RSG opened at $217.83 on Tuesday. Republic Services, Inc. has a 12-month low of $159.10 and a 12-month high of $218.90. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. The company has a market cap of $68.21 billion, a PE ratio of 34.85, a price-to-earnings-growth ratio of 3.31 and a beta of 0.70. The stock has a 50-day moving average price of $204.81 and a 200-day moving average price of $199.22.

Republic Services (NYSE:RSG) last released its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.20. The company had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. Republic Services’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.54 EPS. As a group, equities analysts forecast that Republic Services, Inc. will post 6.24 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 Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a dividend of $0.58 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 annualized dividend and a yield of 1.07%. Republic Services’s payout ratio is 37.12%.

Insiders Place Their Bets

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the completion of the transaction, the chief financial officer now owns 6,318 shares of the company’s stock, valued at $1,326,906.36. This represents a 44.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RSG. Truist Financial upped their price target on shares of Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. StockNews.com cut Republic Services from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Morgan Stanley increased their target price on shares of Republic Services from $208.00 to $217.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Oppenheimer increased their price objective on shares of Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, TD Cowen increased their price target on Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $215.71.

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.