Tandem Investment Advisors Inc. Cuts Stock Position in Republic Services, Inc. (NYSE:RSG)

Tandem Investment Advisors Inc. lowered its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 20.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 218,448 shares of the business services provider's stock after selling 55,699 shares during the quarter. Tandem Investment Advisors Inc. owned 0.07% of Republic Services worth $43,873,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. RFG Advisory LLC lifted its holdings in Republic Services by 0.5% in the 2nd quarter. RFG Advisory LLC now owns 10,603 shares of the business services provider's stock worth $2,061,000 after purchasing an additional 53 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Republic Services by 2.9% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,860 shares of the business services provider's stock worth $362,000 after buying an additional 53 shares in the last quarter. Hexagon Capital Partners LLC boosted its position in shares of Republic Services by 4.0% during the second quarter. Hexagon Capital Partners LLC now owns 1,433 shares of the business services provider's stock worth $278,000 after acquiring an additional 55 shares during the last quarter. Fidelis Capital Partners LLC grew its stake in Republic Services by 3.8% during the third quarter. Fidelis Capital Partners LLC now owns 1,520 shares of the business services provider's stock valued at $310,000 after acquiring an additional 55 shares in the last quarter. Finally, Tower Wealth Partners Inc. lifted its stake in Republic Services by 3.5% in the 3rd quarter. Tower Wealth Partners Inc. now owns 1,643 shares of the business services provider's stock worth $330,000 after purchasing an additional 56 shares in the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Trading Up 1.7 %

RSG traded up $3.52 during trading hours on Friday, reaching $211.61. 1,011,909 shares of the company's stock traded hands, compared to its average volume of 1,126,649. 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 firm has a 50-day moving average price of $203.32 and a 200 day moving average price of $197.31. Republic Services, Inc. has a 52-week low of $154.92 and a 52-week high of $213.25. The firm has a market capitalization of $66.26 billion, a PE ratio of 33.86, a PEG ratio of 3.17 and a beta of 0.70.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.61 by $0.20. The company had revenue of $4.08 billion for 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 firm's revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.54 EPS. As a group, sell-side analysts predict that Republic Services, Inc. will post 6.24 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders 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 1.10%. The ex-dividend date is Thursday, January 2nd. Republic Services's payout ratio is 37.12%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RSG. CIBC lifted their target price on Republic Services from $208.00 to $217.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Royal Bank of Canada lifted their price objective on Republic Services from $211.00 to $219.00 and gave the stock a "sector perform" rating in a research note on Wednesday, October 30th. Oppenheimer upped their price objective on Republic Services from $219.00 to $220.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Truist Financial raised their target price on shares of Republic Services from $220.00 to $244.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Finally, Scotiabank assumed coverage on shares of Republic Services in a research report on Friday, October 4th. They set a "sector perform" rating and a $224.00 price objective for the company. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $215.71.

Insider Activity

In other Republic Services news, Director Tomago Collins sold 3,200 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $203.01, for a total transaction of $649,632.00. Following the transaction, the director now directly owns 17,486 shares in the company, valued at $3,549,832.86. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.