Liberty One Investment Management LLC Sells 2,412 Shares of Republic Services, Inc. (NYSE:RSG)

Liberty One Investment Management LLC lessened its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 129,669 shares of the business services provider's stock after selling 2,412 shares during the period. Republic Services comprises about 2.8% of Liberty One Investment Management LLC's holdings, making the stock its 15th largest holding. Liberty One Investment Management LLC's holdings in Republic Services were worth $26,087,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Stifel Financial Corp boosted its stake in shares of Republic Services by 437.9% during the third quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider's stock valued at $364,449,000 after purchasing an additional 1,477,255 shares during the period. Wellington Management Group LLP grew its holdings in Republic Services by 23.2% in the 3rd quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider's stock worth $1,205,883,000 after acquiring an additional 1,131,850 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Republic Services by 83,671.9% in the third quarter. International Assets Investment Management LLC now owns 538,653 shares of the business services provider's stock valued at $108,183,000 after acquiring an additional 538,010 shares during the period. Nordea Investment Management AB raised its stake in shares of Republic Services by 19.4% during the fourth quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider's stock valued at $626,553,000 after acquiring an additional 509,116 shares during the last quarter. Finally, National Bank of Canada FI grew its stake in shares of Republic Services by 544.7% in the third quarter. National Bank of Canada FI now owns 545,613 shares of the business services provider's stock worth $109,580,000 after purchasing an additional 460,989 shares during the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Republic Services

In other news, Director Katharine Weymouth sold 1,859 shares of the business's stock in a transaction that occurred on Thursday, December 5th. The shares were 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 directly owns 879 shares of the company's stock, valued at $189,222.33. The trade was a 67.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the firm'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 sale, the chief financial officer now owns 6,318 shares in the company, valued at $1,326,906.36. This represents a 44.53 % 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 0.9 %

Shares of NYSE:RSG traded up $1.93 on Friday, hitting $213.85. 1,252,829 shares of the company traded hands, compared to its average volume of 890,373. The stock has a 50 day simple moving average of $209.27 and a 200-day simple moving average of $204.52. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. The company has a market cap of $66.97 billion, a PE ratio of 34.22, a PEG ratio of 2.98 and a beta of 0.73. Republic Services, Inc. has a 52 week low of $165.99 and a 52 week high of $220.58.

Republic Services (NYSE:RSG - Get Free Report) last issued its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.20. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The business had revenue of $4.08 billion during the quarter, compared to analysts' expectations of $4.12 billion. During the same period in the previous year, the company earned $1.54 earnings per share. The business's revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, research analysts expect that Republic Services, Inc. will post 6.25 earnings per share for the current year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Thursday, January 2nd. Republic Services's payout ratio is 37.12%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on RSG shares. CIBC upped their price target on Republic Services from $217.00 to $227.00 and gave the company a "neutral" rating in a research report on Wednesday, December 4th. Royal Bank of Canada upgraded Republic Services from a "sector perform" rating to an "outperform" rating and upped their target price for the company from $219.00 to $237.00 in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a "hold" rating to a "buy" rating and boosted their price objective for the company from $219.00 to $237.00 in a research report on Tuesday, December 10th. Scotiabank initiated coverage on shares of Republic Services in a research report on Friday, October 4th. They issued a "sector perform" rating and a $224.00 target price for the company. Finally, Truist Financial boosted their price target on shares of Republic Services from $220.00 to $244.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $221.12.

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.