Republic Services, Inc. (NYSE:RSG) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lowered its holdings in Republic Services, Inc. (NYSE:RSG) by 1.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 102,731 shares of the business services provider’s stock after selling 1,658 shares during the period. Public Employees Retirement System of Ohio’s holdings in Republic Services were worth $20,632,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Simmons Bank boosted its stake in shares of Republic Services by 2.8% during the 3rd quarter. Simmons Bank now owns 1,895 shares of the business services provider’s stock valued at $381,000 after buying an additional 51 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in Republic Services by 1.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 5,099 shares of the business services provider’s stock valued at $1,024,000 after acquiring an additional 52 shares during the last quarter. Commerzbank Aktiengesellschaft FI grew its holdings in Republic Services by 2.9% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 1,860 shares of the business services provider’s stock worth $362,000 after acquiring an additional 53 shares in the last quarter. Venturi Wealth Management LLC increased its position in shares of Republic Services by 16.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 382 shares of the business services provider’s stock worth $77,000 after purchasing an additional 54 shares during the last quarter. Finally, Fidelis Capital Partners LLC raised its stake in shares of Republic Services by 3.8% in the 3rd quarter. Fidelis Capital Partners LLC now owns 1,520 shares of the business services provider’s stock valued at $310,000 after purchasing an additional 55 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Stock Down 0.3 %

RSG stock opened at $211.63 on Wednesday. The firm’s 50-day moving average is $207.79 and its two-hundred day moving average is $201.26. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $66.27 billion, a price-to-earnings ratio of 33.86, a price-to-earnings-growth ratio of 3.31 and a beta of 0.71. Republic Services, Inc. has a 52 week low of $160.65 and a 52 week high of $220.58.

Republic Services (NYSE:RSG) last released its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The firm had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the prior year, the firm posted $1.54 earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, analysts forecast that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s payout ratio is currently 37.12%.

Insider Buying and Selling at Republic Services

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were 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 directly owns 6,318 shares of the company’s stock, valued at $1,326,906.36. This represents a 44.53 % 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, Director Katharine Weymouth sold 1,859 shares of Republic Services stock in a transaction that occurred on Thursday, December 5th. The stock was 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 owns 879 shares in the company, valued at approximately $189,222.33. This trade represents a 67.90 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Royal Bank of Canada boosted their price objective on Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft raised Republic Services from a “hold” rating to a “buy” rating and upped their price target for the company from $219.00 to $237.00 in a research report on Tuesday. CIBC lifted their price objective on shares of Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Truist Financial increased their target price on shares of Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley lifted their price target on shares of Republic Services from $208.00 to $217.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $219.88.

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.