CIBC Asset Management Inc Reduces Holdings in Republic Services, Inc. (NYSE:RSG)

CIBC Asset Management Inc reduced its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 33.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 178,077 shares of the business services provider's stock after selling 89,372 shares during the quarter. CIBC Asset Management Inc owned about 0.06% of Republic Services worth $35,767,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. FSA Wealth Management LLC acquired a new stake in Republic Services during the third quarter worth about $25,000. R Squared Ltd acquired a new stake in Republic Services during the fourth quarter worth about $32,000. Truvestments Capital LLC acquired a new stake in Republic Services during the third quarter worth about $34,000. Ashton Thomas Securities LLC acquired a new stake in Republic Services during the third quarter worth about $39,000. Finally, Kieckhefer Group LLC acquired a new stake in Republic Services during the fourth quarter worth about $50,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on RSG shares. Royal Bank of Canada raised Republic Services from a "sector perform" rating to an "outperform" rating and lifted their target price for the stock from $219.00 to $237.00 in a research report on Monday, January 6th. Truist Financial restated a "buy" rating and set a $250.00 price target (up previously from $244.00) on shares of Republic Services in a research note on Friday, February 14th. UBS Group raised their price target on shares of Republic Services from $212.00 to $240.00 and gave the stock a "neutral" rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft upgraded shares of Republic Services from a "hold" rating to a "buy" rating and lifted their target price for the company from $219.00 to $237.00 in a research note on Tuesday, December 10th. Finally, CIBC lifted their target price on shares of Republic Services from $217.00 to $227.00 and gave the company a "neutral" rating in a research note on Wednesday, December 4th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $231.75.

Insiders Place Their Bets

In related news, Director Katharine Weymouth sold 1,859 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $215.27, for a total value of $400,186.93. Following the completion of the transaction, the director now owns 879 shares of the company's stock, valued at $189,222.33. This represents a 67.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Gregg Brummer sold 6,293 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the completion of the transaction, the chief operating officer now directly owns 10,416 shares of the company's stock, valued at approximately $2,376,931.20. The trade was a 37.66 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.09% of the company's stock.

Republic Services Stock Up 0.5 %

NYSE:RSG traded up $1.07 on Thursday, hitting $230.73. 1,143,201 shares of the company's stock were exchanged, compared to its average volume of 1,007,488. The firm has a 50-day moving average price of $212.03 and a 200-day moving average price of $208.11. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64. Republic Services, Inc. has a 52 week low of $179.62 and a 52 week high of $232.52. The company has a market cap of $72.05 billion, a P/E ratio of 35.55, a price-to-earnings-growth ratio of 3.61 and a beta of 0.74.

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, beating analysts' consensus estimates of $1.37 by $0.21. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The company had revenue of $4.05 billion for the quarter, compared to analysts' expectations of $4.08 billion. During the same period in the prior year, the firm earned $1.41 EPS. As a group, analysts expect that Republic Services, Inc. will post 6.85 EPS for the current fiscal year.

Republic Services Dividend Announcement

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

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.