Rhumbline Advisers Trims Stock Position in Republic Services, Inc. (NYSE:RSG)

Rhumbline Advisers trimmed its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 3.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 440,583 shares of the business services provider's stock after selling 15,017 shares during the quarter. Rhumbline Advisers owned approximately 0.14% of Republic Services worth $88,636,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of RSG. FSA Wealth Management LLC purchased a new stake in Republic Services in the third quarter worth $25,000. R Squared Ltd purchased a new position in Republic Services in the 4th quarter worth about $32,000. Truvestments Capital LLC bought a new stake in Republic Services during the 3rd quarter valued at about $34,000. Ashton Thomas Securities LLC bought a new position in Republic Services in the 3rd quarter worth about $39,000. Finally, Kieckhefer Group LLC purchased a new position in shares of Republic Services during the fourth quarter worth approximately $50,000. 57.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Truist Financial reiterated a "buy" rating and issued a $250.00 price target (up previously from $244.00) on shares of Republic Services in a report on Friday, February 14th. Stifel Nicolaus increased their price target on Republic Services from $240.00 to $257.00 and gave the stock a "buy" rating in a research report on Tuesday. Royal Bank of Canada upgraded Republic Services from a "sector perform" rating to an "outperform" rating and lifted their price objective for the company from $219.00 to $237.00 in a report on Monday, January 6th. UBS Group increased their target price on shares of Republic Services from $212.00 to $240.00 and gave the stock a "neutral" rating in a report on Wednesday. Finally, BMO Capital Markets upgraded shares of Republic Services from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $211.00 to $238.00 in a report on Friday, December 6th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Republic Services has a consensus rating of "Moderate Buy" and an average price target of $231.75.

Republic Services Stock Up 0.5 %

RSG stock traded up $1.04 on Wednesday, hitting $229.59. 1,132,815 shares of the company's stock were exchanged, compared to its average volume of 1,000,494. The firm has a 50 day moving average price of $211.64 and a two-hundred day moving average price of $207.96. Republic Services, Inc. has a 12-month low of $179.62 and a 12-month high of $232.52. The stock has a market cap of $71.90 billion, a P/E ratio of 35.38, a price-to-earnings-growth ratio of 3.33 and a beta of 0.74. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58.

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

Republic Services Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Wednesday, April 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.01%. Republic Services's payout ratio is currently 35.75%.

Insider Activity

In related news, Director Katharine Weymouth sold 1,859 shares of the company's stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total value of $400,186.93. Following the sale, the director now owns 879 shares in the company, valued at $189,222.33. This represents a 67.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.09% of the company's stock.

Republic Services 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.