Twinbeech Capital LP Sells 9,849 Shares of Republic Services, Inc. (NYSE:RSG)

Twinbeech Capital LP reduced its position in shares of Republic Services, Inc. (NYSE:RSG) by 27.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,432 shares of the business services provider’s stock after selling 9,849 shares during the period. Twinbeech Capital LP’s holdings in Republic Services were worth $5,116,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in RSG. Norges Bank bought a new position in Republic Services during the 4th quarter valued at about $553,039,000. Raymond James Financial Inc. acquired a new position in shares of Republic Services during the fourth quarter worth approximately $184,827,000. Price T Rowe Associates Inc. MD lifted its position in shares of Republic Services by 10.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,317,804 shares of the business services provider’s stock worth $1,069,836,000 after purchasing an additional 499,237 shares in the last quarter. Alyeska Investment Group L.P. lifted its position in shares of Republic Services by 170.6% during the fourth quarter. Alyeska Investment Group L.P. now owns 584,345 shares of the business services provider’s stock worth $117,559,000 after purchasing an additional 368,395 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its position in shares of Republic Services by 176.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 548,255 shares of the business services provider’s stock worth $110,298,000 after purchasing an additional 350,221 shares in the last quarter. 57.73% of the stock is owned by institutional investors.

Republic Services Stock Up 0.7%

Shares of RSG stock opened at $252.10 on Wednesday. The company has a market capitalization of $78.78 billion, a price-to-earnings ratio of 38.84, a P/E/G ratio of 3.64 and a beta of 0.66. Republic Services, Inc. has a 12-month low of $180.92 and a 12-month high of $253.54. The firm has a fifty day moving average of $241.85 and a 200-day moving average of $224.84. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.05. The firm had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $1.45 EPS. As a group, equities research analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 2nd will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Wednesday, July 2nd. Republic Services’s dividend payout ratio (DPR) is currently 34.99%.

Analysts Set New Price Targets

RSG has been the topic of a number of research reports. Truist Financial upped their target price on shares of Republic Services from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, April 22nd. Raymond James reiterated an “outperform” rating on shares of Republic Services in a research report on Wednesday, April 16th. Robert W. Baird upped their target price on shares of Republic Services from $232.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, April 25th. Stifel Nicolaus increased their price objective on shares of Republic Services from $240.00 to $257.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Finally, BMO Capital Markets increased their price objective on shares of Republic Services from $260.00 to $268.00 and gave the company an “outperform” rating in a report on Friday, April 25th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $249.00.

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.