Van ECK Associates Corp Reduces Holdings in Republic Services, Inc. (NYSE:RSG)

Van ECK Associates Corp lowered its stake in Republic Services, Inc. (NYSE:RSG) by 17.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 49,387 shares of the business services provider’s stock after selling 10,180 shares during the quarter. Van ECK Associates Corp’s holdings in Republic Services were worth $8,145,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. FinTrust Capital Advisors LLC raised its holdings in Republic Services by 56.3% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 197 shares of the business services provider’s stock valued at $28,000 after buying an additional 71 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Republic Services during the fourth quarter worth about $34,000. BKM Wealth Management LLC purchased a new position in Republic Services during the 4th quarter valued at about $37,000. Bruce G. Allen Investments LLC bought a new position in Republic Services during the 4th quarter valued at approximately $41,000. Finally, Millburn Ridgefield Corp purchased a new stake in Republic Services in the 3rd quarter worth approximately $36,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Analyst Upgrades and Downgrades

RSG has been the topic of several research analyst reports. Wells Fargo & Company boosted their target price on Republic Services from $180.00 to $188.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Oppenheimer raised their target price on shares of Republic Services from $202.00 to $204.00 and gave the stock an “outperform” rating in a research report on Wednesday. Truist Financial boosted their price target on shares of Republic Services from $175.00 to $192.00 and gave the company a “hold” rating in a research report on Wednesday, February 28th. Jefferies Financial Group raised their price objective on shares of Republic Services from $213.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Finally, Scotiabank increased their target price on Republic Services from $211.00 to $213.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.00.

Republic Services Price Performance

Shares of RSG opened at $185.51 on Friday. Republic Services, Inc. has a twelve month low of $140.07 and a twelve month high of $196.76. The company has a market capitalization of $58.42 billion, a P/E ratio of 32.55, a price-to-earnings-growth ratio of 3.25 and a beta of 0.67. The firm has a 50 day moving average of $188.01 and a 200 day moving average of $171.68. The company has a quick ratio of 0.56, a current ratio of 0.53 and a debt-to-equity ratio of 1.05.

Republic Services (NYSE:RSG) last posted its earnings results on Tuesday, April 30th. The business services provider reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.10. The business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.89 billion. Republic Services had a return on equity of 17.56% and a net margin of 11.81%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.24 EPS. As a group, equities research analysts anticipate that Republic Services, Inc. will post 6.02 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 Monday, July 15th. Shareholders of record on Tuesday, July 2nd will be paid a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 1.15%. The ex-dividend date is Tuesday, July 2nd. Republic Services’s dividend payout ratio is currently 37.54%.

Insider Activity

In other news, CEO Ark Jon Vander sold 5,446 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $184.10, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.09% of the company’s stock.

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.