Allspring Global Investments Holdings LLC Raises Stock Holdings in Republic Services, Inc. $RSG

by · The Markets Daily

Allspring Global Investments Holdings LLC boosted its holdings in shares of Republic Services, Inc. (NYSE:RSG – Free Report) by 68.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 2,256,190 shares of the business services provider’s stock after purchasing an additional 913,249 shares during the quarter. Republic Services makes up approximately 0.8% of Allspring Global Investments Holdings LLC’s portfolio, making the stock its 14th biggest holding. Allspring Global Investments Holdings LLC’s holdings in Republic Services were worth $497,828,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Wealth Watch Advisors INC acquired a new stake in shares of Republic Services during the third quarter worth approximately $26,000. Laurel Wealth Advisors LLC acquired a new stake in shares of Republic Services in the 4th quarter valued at about $25,000. Prosperity Bancshares Inc bought a new position in shares of Republic Services during the fourth quarter worth about $30,000. Sound Income Strategies LLC bought a new position in shares of Republic Services during the fourth quarter worth about $32,000. Finally, Hilton Head Capital Partners LLC acquired a new position in Republic Services in the fourth quarter worth about $32,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Royal Bank Of Canada upped their price objective on Republic Services from $265.00 to $267.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. UBS Group decreased their target price on Republic Services from $240.00 to $223.00 and set a “neutral” rating for the company in a research report on Tuesday, May 12th. JPMorgan Chase & Co. upped their price target on Republic Services from $233.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, April 10th. Argus cut Republic Services from a “buy” rating to a “hold” rating in a research note on Monday, May 11th. Finally, Citigroup lifted their price objective on shares of Republic Services from $247.00 to $259.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Eleven research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Republic Services has an average rating of “Moderate Buy” and a consensus target price of $243.89.

Check Out Our Latest Stock Report on RSG

Insider Transactions at Republic Services

In other news, Director Sandra M. Volpe sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $211.28, for a total value of $380,304.00. Following the completion of the sale, the director directly owned 58 shares of the company’s stock, valued at approximately $12,254.24. This represents a 96.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Cascade Investment, L.L.C. acquired 60,700 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were bought at an average price of $213.31 per share, for a total transaction of $12,947,917.00. Following the purchase, the insider directly owned 110,803,982 shares of the company’s stock, valued at approximately $23,635,597,400.42. This trade represents a 0.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 987,150 shares of company stock worth $202,366,682 over the last 90 days. 0.12% of the stock is owned by insiders.

Republic Services Stock Up 3.2%

NYSE:RSG opened at $224.26 on Friday. The firm has a market capitalization of $69.00 billion, a PE ratio of 32.18, a price-to-earnings-growth ratio of 3.64 and a beta of 0.40. Republic Services, Inc. has a 52 week low of $196.41 and a 52 week high of $246.25. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11. The stock has a 50 day moving average of $210.48 and a 200-day moving average of $214.64.

Republic Services (NYSE:RSG – Get Free Report) last issued its quarterly earnings data on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.06. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same period in the prior year, the business earned $1.58 EPS. The firm’s revenue was up 2.6% on a year-over-year basis. Analysts predict that Republic Services, Inc. will post 7.29 EPS for the current year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd were paid a dividend of $0.625 per share. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $2.50 annualized dividend and a yield of 1.1%. Republic Services’s dividend payout ratio (DPR) is presently 35.87%.

Republic Services Profile

(Free Report)

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.

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