State of Alaska Department of Revenue Trims Stake in Republic Services, Inc. (NYSE:RSG)

State of Alaska Department of Revenue reduced its position in shares of Republic Services, Inc. (NYSE:RSGFree Report) by 9.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,090 shares of the business services provider’s stock after selling 2,345 shares during the quarter. State of Alaska Department of Revenue’s holdings in Republic Services were worth $3,642,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Schechter Investment Advisors LLC boosted its position in Republic Services by 19.4% during the 3rd quarter. Schechter Investment Advisors LLC now owns 2,791 shares of the business services provider’s stock valued at $398,000 after acquiring an additional 453 shares in the last quarter. First Financial Corp IN boosted its position in shares of Republic Services by 4.7% in the 4th quarter. First Financial Corp IN now owns 2,858 shares of the business services provider’s stock worth $471,000 after purchasing an additional 128 shares in the last quarter. SG Americas Securities LLC raised its stake in Republic Services by 217.7% in the 4th quarter. SG Americas Securities LLC now owns 76,038 shares of the business services provider’s stock worth $12,539,000 after acquiring an additional 52,104 shares during the last quarter. Robeco Schweiz AG raised its stake in Republic Services by 65.9% in the 3rd quarter. Robeco Schweiz AG now owns 34,500 shares of the business services provider’s stock worth $4,917,000 after acquiring an additional 13,700 shares during the last quarter. Finally, Brookstone Capital Management raised its stake in Republic Services by 172.4% in the 3rd quarter. Brookstone Capital Management now owns 11,131 shares of the business services provider’s stock worth $1,623,000 after acquiring an additional 7,045 shares during the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Republic Services

In other Republic Services news, CEO Ark Jon Vander sold 5,446 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $184.10, for a total value of $1,002,608.60. Following the sale, the chief executive officer now owns 85,113 shares of the company’s stock, valued at $15,669,303.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.09% of the stock is owned by corporate insiders.

Republic Services Trading Down 0.4 %

Shares of Republic Services stock opened at $189.00 on Wednesday. The stock has a market cap of $59.46 billion, a P/E ratio of 34.55, a P/E/G ratio of 3.35 and a beta of 0.68. The stock’s 50 day simple moving average is $181.37 and its 200-day simple moving average is $164.98. Republic Services, Inc. has a 1-year low of $133.81 and a 1-year high of $192.57. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56.

Republic Services (NYSE:RSGGet Free Report) last released its quarterly earnings data on Tuesday, February 27th. The business services provider reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.13. Republic Services had a return on equity of 17.32% and a net margin of 11.57%. The firm had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.73 billion. During the same period in the prior year, the firm posted $1.13 earnings per share. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. Analysts predict that Republic Services, Inc. will post 6 EPS for the current fiscal year.

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Tuesday, April 2nd will be given a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Monday, April 1st. Republic Services’s payout ratio is 39.12%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RSG. UBS Group lowered Republic Services from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $175.00 to $195.00 in a research note on Thursday, February 29th. Jefferies Financial Group lifted their price objective on Republic Services from $213.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Truist Financial lifted their price objective on Republic Services from $175.00 to $192.00 and gave the company a “hold” rating in a research note on Wednesday, February 28th. Citigroup lifted their price objective on Republic Services from $190.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Finally, Wells Fargo & Company lifted their price target on Republic Services from $180.00 to $188.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Republic Services has an average rating of “Moderate Buy” and an average price target of $197.17.

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Republic Services Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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