Chevy Chase Trust Holdings LLC Lowers Stock Position in Republic Services, Inc. (NYSE:RSG)

Chevy Chase Trust Holdings LLC lessened its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 2.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,613 shares of the business services provider's stock after selling 2,943 shares during the quarter. Chevy Chase Trust Holdings LLC's holdings in Republic Services were worth $21,650,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. FSA Wealth Management LLC purchased a new position in Republic Services during the 3rd quarter worth $25,000. R Squared Ltd bought a new position in Republic Services during the fourth quarter valued at about $32,000. Truvestments Capital LLC bought a new position in Republic Services during the third quarter valued at about $34,000. Ashton Thomas Securities LLC bought a new position in Republic Services during the third quarter valued at about $39,000. Finally, Kieckhefer Group LLC bought a new position in Republic Services during the fourth quarter valued at about $50,000. Institutional investors own 57.73% of the company's stock.

Republic Services Trading Up 0.5 %

Shares of Republic Services stock traded up $1.04 on Wednesday, hitting $229.59. The stock had a trading volume of 1,045,411 shares, compared to its average volume of 1,000,494. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a one year low of $179.62 and a one year high of $232.52. The stock has a market cap of $71.90 billion, a price-to-earnings ratio of 35.38, a PEG ratio of 3.33 and a beta of 0.74. The stock's 50-day simple moving average is $211.64 and its two-hundred day simple moving average is $207.96.

Republic Services (NYSE:RSG - Get Free Report) last issued its earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.21. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The firm had revenue of $4.05 billion for the quarter, compared to analysts' expectations of $4.08 billion. During the same quarter last year, the business earned $1.41 earnings per share. As a group, sell-side analysts predict that Republic Services, Inc. will post 6.89 EPS for the current year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Wednesday, April 2nd. Republic Services's payout ratio is 35.75%.

Wall Street Analyst Weigh In

RSG has been the topic of several recent research reports. Royal Bank of Canada raised shares of Republic Services from a "sector perform" rating to an "outperform" rating and upped their price objective for the company from $219.00 to $237.00 in a report on Monday, January 6th. The Goldman Sachs Group increased their price target on shares of Republic Services from $239.00 to $265.00 and gave the stock a "buy" rating in a report on Tuesday. Truist Financial reissued a "buy" rating and issued a $250.00 price target (up from $244.00) on shares of Republic Services in a report on Friday, February 14th. Morgan Stanley increased their price target on shares of Republic Services from $220.00 to $230.00 and gave the stock an "equal weight" rating in a report on Friday, February 14th. Finally, William Blair reaffirmed an "outperform" rating on shares of Republic Services in a research note on Friday, February 14th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $231.75.

Insider Buying and Selling

In other Republic Services news, Director Katharine Weymouth sold 1,859 shares of the firm's stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total transaction of $400,186.93. Following the completion of the transaction, the director now owns 879 shares of the company's stock, valued at approximately $189,222.33. This trade represents a 67.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.09% of the stock is currently owned by insiders.

Republic Services Company 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.