Republic Services, Inc. (NYSE:RSG) Stock Position Lessened by Corbyn Investment Management Inc. MD

Corbyn Investment Management Inc. MD reduced its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 6.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,527 shares of the business services provider's stock after selling 8,024 shares during the period. Republic Services accounts for 8.5% of Corbyn Investment Management Inc. MD's portfolio, making the stock its biggest holding. Corbyn Investment Management Inc. MD's holdings in Republic Services were worth $22,198,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of RSG. Capital World Investors boosted its holdings in shares of Republic Services by 20.5% during the 1st quarter. Capital World Investors now owns 7,909,008 shares of the business services provider's stock valued at $1,514,100,000 after purchasing an additional 1,346,588 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Republic Services by 2.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,520,738 shares of the business services provider's stock valued at $506,265,000 after buying an additional 57,040 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Republic Services by 5.4% during the 2nd quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider's stock valued at $351,480,000 after acquiring an additional 92,013 shares during the last quarter. TD Asset Management Inc grew its holdings in shares of Republic Services by 2.1% in the second quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider's stock valued at $341,602,000 after purchasing an additional 35,650 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Republic Services by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 1,476,116 shares of the business services provider's stock worth $286,868,000 after purchasing an additional 3,809 shares during the last quarter. Institutional investors own 57.73% of the company's stock.

Republic Services Price Performance

Shares of RSG stock traded up $1.11 during trading hours on Monday, reaching $209.15. The company had a trading volume of 227,253 shares, compared to its average volume of 1,119,621. Republic Services, Inc. has a 12-month low of $157.91 and a 12-month high of $216.18. The company has a market capitalization of $65.50 billion, a price-to-earnings ratio of 33.29, a PEG ratio of 3.18 and a beta of 0.70. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a fifty day moving average of $203.84 and a 200-day moving average of $198.10.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.61 by $0.20. The business had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The business's revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.54 EPS. On average, equities analysts anticipate that Republic Services, Inc. will post 6.24 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently disclosed 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. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Thursday, January 2nd. Republic Services's payout ratio is 37.12%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Robert W. Baird lifted their price target on Republic Services from $208.00 to $210.00 and gave the stock a "neutral" rating in a research report on Thursday, July 25th. Royal Bank of Canada lifted their price objective on shares of Republic Services from $211.00 to $219.00 and gave the stock a "sector perform" rating in a research note on Wednesday, October 30th. William Blair initiated coverage on shares of Republic Services in a research note on Thursday, October 3rd. They issued an "outperform" rating on the stock. BMO Capital Markets raised their target price on shares of Republic Services from $209.00 to $211.00 and gave the stock a "market perform" rating in a research report on Thursday, July 25th. Finally, Raymond James cut their price objective on shares of Republic Services from $219.00 to $214.00 and set an "outperform" rating on the stock in a report on Thursday, July 25th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Republic Services presently has an average rating of "Moderate Buy" and a consensus target price of $215.71.

About Republic Services

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.