Farther Finance Advisors LLC Cuts Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Farther Finance Advisors LLC trimmed its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,029 shares of the business services provider’s stock after selling 73 shares during the period. Farther Finance Advisors LLC’s holdings in Republic Services were worth $1,213,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in RSG. Stifel Financial Corp boosted its position in Republic Services by 437.9% during the third quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock valued at $364,449,000 after buying an additional 1,477,255 shares during the period. Wellington Management Group LLP boosted its position in Republic Services by 23.2% during the third quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider’s stock valued at $1,205,883,000 after buying an additional 1,131,850 shares during the period. Raymond James Financial Inc. bought a new position in shares of Republic Services during the fourth quarter valued at about $184,827,000. Nordea Investment Management AB raised its stake in shares of Republic Services by 19.4% during the fourth quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock valued at $626,553,000 after acquiring an additional 509,116 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in shares of Republic Services by 544.7% during the third quarter. National Bank of Canada FI now owns 545,613 shares of the business services provider’s stock valued at $109,580,000 after acquiring an additional 460,989 shares during the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a “hold” rating to a “buy” rating and upped their price objective for the company from $219.00 to $237.00 in a research note on Tuesday, December 10th. Argus set a $260.00 price target on shares of Republic Services in a research note on Tuesday, February 18th. Cibc World Mkts raised shares of Republic Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 4th. Jefferies Financial Group increased their price target on shares of Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Finally, Truist Financial reissued a “buy” rating and issued a $250.00 price target (up from $244.00) on shares of Republic Services in a research note on Friday, February 14th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Republic Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.88.

Insiders Place Their Bets

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the 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 transaction, the chief operating officer now directly owns 10,416 shares in the company, valued at approximately $2,376,931.20. This trade represents 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 accessible through this hyperlink. Insiders own 0.09% of the company’s stock.

Republic Services Price Performance

Shares of RSG opened at $229.08 on Friday. The firm’s 50-day simple moving average is $221.33 and its two-hundred day simple moving average is $211.50. Republic Services, Inc. has a fifty-two week low of $180.91 and a fifty-two week high of $240.95. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. The stock has a market cap of $71.54 billion, a PE ratio of 35.30, a price-to-earnings-growth ratio of 3.64 and a beta of 0.73.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, beating 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 firm had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the prior year, the company posted $1.41 earnings per share. Analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 1.01%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s dividend payout ratio is currently 35.75%.

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.