PAX Financial Group LLC Sells 1,260 Shares of Republic Services, Inc. (NYSE:RSG)

PAX Financial Group LLC reduced its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 35.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,296 shares of the business services provider's stock after selling 1,260 shares during the quarter. PAX Financial Group LLC's holdings in Republic Services were worth $462,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. raised its stake in Republic Services by 37.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,682 shares of the business services provider's stock valued at $3,586,000 after acquiring an additional 4,827 shares in the last quarter. TCW Group Inc. increased its holdings in shares of Republic Services by 13.0% during the third quarter. TCW Group Inc. now owns 114,582 shares of the business services provider's stock valued at $23,013,000 after purchasing an additional 13,138 shares during the period. DnB Asset Management AS lifted its holdings in Republic Services by 65.1% in the fourth quarter. DnB Asset Management AS now owns 72,931 shares of the business services provider's stock worth $14,672,000 after purchasing an additional 28,764 shares during the period. Avanza Fonder AB bought a new position in Republic Services in the 4th quarter valued at about $4,430,000. Finally, Czech National Bank increased its stake in Republic Services by 6.1% during the 4th quarter. Czech National Bank now owns 44,134 shares of the business services provider's stock valued at $8,879,000 after buying an additional 2,548 shares during the period. 57.73% of the stock is owned by institutional investors and hedge funds.

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Republic Services Stock Down 0.7 %

Shares of RSG traded down $1.67 during trading hours on Thursday, reaching $237.59. The company's stock had a trading volume of 574,744 shares, compared to its average volume of 1,115,241. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. The firm has a market cap of $74.20 billion, a price-to-earnings ratio of 36.71, a P/E/G ratio of 3.64 and a beta of 0.62. The company has a 50 day moving average of $232.38 and a two-hundred day moving average of $216.14. Republic Services, Inc. has a 1-year low of $180.92 and a 1-year high of $249.73.

Republic Services (NYSE:RSG - Get Free Report) last released its earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the prior year, the firm earned $1.41 EPS. As a group, research analysts predict that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services's dividend payout ratio (DPR) is presently 35.75%.

Insider Activity at Republic Services

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total value of $1,436,062.60. Following the completion of the sale, the chief operating officer now directly owns 10,416 shares in the company, valued at $2,376,931.20. The trade was a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on RSG shares. Scotiabank increased their price objective on shares of Republic Services from $233.00 to $250.00 and gave the company a "sector perform" rating in a report on Tuesday. UBS Group increased their price target on Republic Services from $212.00 to $240.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Jefferies Financial Group raised their target price on Republic Services from $235.00 to $244.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. The Goldman Sachs Group boosted their price target on shares of Republic Services from $239.00 to $265.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Finally, Truist Financial reaffirmed a "buy" rating and issued a $250.00 price objective (up previously from $244.00) on shares of Republic Services in a research note on Friday, February 14th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $238.50.

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.