Cynosure Group LLC Sells 344 Shares of Republic Services, Inc. (NYSE:RSG)

Cynosure Group LLC lowered its position in Republic Services, Inc. (NYSE:RSG) by 15.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,938 shares of the business services provider’s stock after selling 344 shares during the quarter. Cynosure Group LLC’s holdings in Republic Services were worth $390,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in Republic Services by 37.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,682 shares of the business services provider’s stock worth $3,586,000 after buying an additional 4,827 shares in the last quarter. TCW Group Inc. lifted its holdings in shares of Republic Services by 13.0% during the 3rd quarter. TCW Group Inc. now owns 114,582 shares of the business services provider’s stock worth $23,013,000 after acquiring an additional 13,138 shares during the period. DnB Asset Management AS boosted its position in shares of Republic Services by 65.1% during the 4th quarter. DnB Asset Management AS now owns 72,931 shares of the business services provider’s stock valued at $14,672,000 after acquiring an additional 28,764 shares in the last quarter. Avanza Fonder AB bought a new stake in Republic Services in the fourth quarter valued at about $4,430,000. Finally, Czech National Bank raised its position in Republic Services by 6.1% in the fourth quarter. Czech National Bank now owns 44,134 shares of the business services provider’s stock worth $8,879,000 after purchasing an additional 2,548 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Cibc World Mkts raised Republic Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 4th. William Blair reaffirmed an “outperform” rating on shares of Republic Services in a research note on Friday, February 14th. Truist Financial reiterated a “buy” rating and issued a $250.00 price target (up from $244.00) on shares of Republic Services in a research report on Friday, February 14th. CIBC raised Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 price objective for the company in a report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a “hold” rating to a “buy” rating and upped their target price for the stock from $219.00 to $237.00 in a report on Tuesday, December 10th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $236.88.

Republic Services Trading Up 0.4 %

Shares of RSG opened at $244.66 on Thursday. The stock’s fifty day simple moving average is $229.51 and its 200-day simple moving average is $214.60. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $76.40 billion, a PE ratio of 37.70, a price-to-earnings-growth ratio of 3.64 and a beta of 0.73. Republic Services, Inc. has a 12-month low of $180.92 and a 12-month high of $245.00.

Republic Services (NYSE:RSG) last issued its earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.21. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter last year, the firm earned $1.41 EPS. As a group, research analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services’s payout ratio is 35.75%.

Insider Activity

In other news, COO Gregg Brummer sold 6,293 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total value of $1,436,062.60. Following the completion of the sale, the chief operating officer now directly owns 10,416 shares of the company’s stock, valued at $2,376,931.20. This represents a 37.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.09% of the stock is currently owned by company insiders.

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.