Republic Services, Inc. (NYSE:RSG) Stake Cut by HighTower Advisors LLC

HighTower Advisors LLC lowered its holdings in Republic Services, Inc. (NYSE:RSG) by 0.7% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 23,536 shares of the business services provider’s stock after selling 172 shares during the period. HighTower Advisors LLC’s holdings in Republic Services were worth $3,201,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. D.A. Davidson & CO. bought a new stake in shares of Republic Services during the first quarter worth $203,000. Synovus Financial Corp grew its stake in shares of Republic Services by 1.9% during the first quarter. Synovus Financial Corp now owns 14,255 shares of the business services provider’s stock worth $1,890,000 after purchasing an additional 260 shares during the period. Vontobel Holding Ltd. grew its stake in shares of Republic Services by 34.6% during the first quarter. Vontobel Holding Ltd. now owns 3,885 shares of the business services provider’s stock worth $523,000 after purchasing an additional 998 shares during the period. Blair William & Co. IL grew its stake in shares of Republic Services by 1.6% during the first quarter. Blair William & Co. IL now owns 31,162 shares of the business services provider’s stock worth $4,129,000 after purchasing an additional 495 shares during the period. Finally, Moors & Cabot Inc. grew its stake in shares of Republic Services by 2.9% during the first quarter. Moors & Cabot Inc. now owns 6,726 shares of the business services provider’s stock worth $891,000 after purchasing an additional 187 shares during the period. Institutional investors and hedge funds own 57.23% of the company’s stock.

Insider Activity

In other news, CMO Amanda Hodges sold 2,712 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $148.66, for a total transaction of $403,165.92. Following the completion of the transaction, the chief marketing officer now owns 4,969 shares in the company, valued at $738,691.54. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Brian M. Delghiaccio sold 5,500 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $149.65, for a total transaction of $823,075.00. Following the completion of the transaction, the chief financial officer now directly owns 5,071 shares in the company, valued at $758,875.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Amanda Hodges sold 2,712 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $148.66, for a total transaction of $403,165.92. Following the transaction, the chief marketing officer now owns 4,969 shares of the company’s stock, valued at approximately $738,691.54. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Republic Services Price Performance

Republic Services stock opened at $146.76 on Friday. The stock has a fifty day moving average of $148.90 and a 200-day moving average of $142.28. Republic Services, Inc. has a 52 week low of $120.58 and a 52 week high of $156.65. The stock has a market capitalization of $46.42 billion, a P/E ratio of 29.53, a price-to-earnings-growth ratio of 2.82 and a beta of 0.67. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.76 and a current ratio of 0.76.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Monday, July 31st. The business services provider reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.09. Republic Services had a return on equity of 16.53% and a net margin of 10.91%. The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.73 billion. During the same period in the previous year, the business earned $1.32 earnings per share. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, sell-side analysts expect that Republic Services, Inc. will post 5.35 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Monday, October 2nd will be issued a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 1.46%. This is a boost from Republic Services’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, September 29th. Republic Services’s dividend payout ratio is presently 39.84%.

Wall Street Analysts Forecast Growth

RSG has been the subject of a number of research analyst reports. Citigroup boosted their target price on Republic Services from $177.00 to $178.00 and gave the company a “buy” rating in a research note on Wednesday, August 2nd. BMO Capital Markets raised their target price on Republic Services from $158.00 to $160.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 1st. StockNews.com started coverage on Republic Services in a report on Thursday, August 17th. They issued a “buy” rating for the company. Raymond James raised their price objective on Republic Services from $154.00 to $167.00 and gave the company an “outperform” rating in a research note on Friday, July 21st. Finally, Truist Financial lifted their target price on shares of Republic Services from $146.00 to $155.00 and gave the company a “hold” rating in a report on Wednesday, August 2nd. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Republic Services currently has a consensus rating of “Moderate Buy” and an average target price of $159.00.

Republic Services Company Profile

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States. 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.