NewEdge Wealth LLC Decreases Stake in Republic Services, Inc. (NYSE:RSG)

NewEdge Wealth LLC lowered its position in Republic Services, Inc. (NYSE:RSG) by 4.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 5,217 shares of the business services provider’s stock after selling 223 shares during the period. NewEdge Wealth LLC’s holdings in Republic Services were worth $860,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. YCG LLC raised its holdings in shares of Republic Services by 11.7% during the 4th quarter. YCG LLC now owns 202,677 shares of the business services provider’s stock worth $33,423,000 after acquiring an additional 21,234 shares during the period. Genesee Capital Advisors LLC raised its holdings in shares of Republic Services by 4.6% during the 4th quarter. Genesee Capital Advisors LLC now owns 3,636 shares of the business services provider’s stock worth $600,000 after acquiring an additional 159 shares during the period. Cornerstone Wealth Group LLC raised its holdings in shares of Republic Services by 1.4% during the 4th quarter. Cornerstone Wealth Group LLC now owns 17,585 shares of the business services provider’s stock worth $2,900,000 after acquiring an additional 238 shares during the period. Cassia Capital Partners LLC increased its position in shares of Republic Services by 6.0% during the 4th quarter. Cassia Capital Partners LLC now owns 3,043 shares of the business services provider’s stock worth $502,000 after purchasing an additional 173 shares during the last quarter. Finally, Sapient Capital LLC acquired a new stake in shares of Republic Services during the 4th quarter worth about $228,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on RSG. Truist Financial raised their price objective on Republic Services from $175.00 to $192.00 and gave the stock a “hold” rating in a research report on Wednesday, February 28th. Royal Bank of Canada began coverage on Republic Services in a research report on Monday, April 8th. They set a “sector perform” rating and a $198.00 price objective for the company. Stifel Nicolaus raised their price objective on Republic Services from $175.00 to $187.00 and gave the stock a “buy” rating in a research report on Tuesday, December 19th. The Goldman Sachs Group raised their price objective on Republic Services from $182.00 to $209.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Finally, Scotiabank initiated coverage on Republic Services in a research report on Monday, April 8th. They issued a “sector perform” rating and a $211.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $198.15.

Insider Activity at Republic Services

In related news, CEO Ark Jon Vander sold 5,446 shares of the company’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 completion of the transaction, the chief executive officer now directly owns 85,113 shares of the company’s stock, valued at $15,669,303.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Republic Services Stock Performance

Shares of RSG opened at $187.27 on Tuesday. The stock has a 50-day simple moving average of $184.72 and a 200-day simple moving average of $167.88. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market capitalization of $58.99 billion, a PE ratio of 34.24, a PEG ratio of 3.29 and a beta of 0.68. Republic Services, Inc. has a 1 year low of $135.33 and a 1 year high of $192.57.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Tuesday, February 27th. The business services provider reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.13. The business had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.73 billion. Republic Services had a return on equity of 17.32% and a net margin of 11.57%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.13 EPS. On average, analysts predict that Republic Services, Inc. will post 6 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Tuesday, April 2nd were issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Monday, April 1st. Republic Services’s dividend payout ratio (DPR) is 39.12%.

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.