Truist Financial Corp Decreases Stake in Republic Services, Inc. (NYSE:RSG)

Truist Financial Corp reduced its holdings in Republic Services, Inc. (NYSE:RSG) by 10.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,206 shares of the business services provider’s stock after selling 4,651 shares during the period. Truist Financial Corp’s holdings in Republic Services were worth $6,466,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Republic Services by 0.3% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,150 shares of the business services provider’s stock worth $4,147,000 after purchasing an additional 66 shares during the period. Parcion Private Wealth LLC raised its stake in Republic Services by 0.3% during the fourth quarter. Parcion Private Wealth LLC now owns 23,808 shares of the business services provider’s stock worth $3,926,000 after purchasing an additional 68 shares during the period. Stokes Family Office LLC raised its stake in Republic Services by 2.2% during the third quarter. Stokes Family Office LLC now owns 3,209 shares of the business services provider’s stock worth $457,000 after purchasing an additional 70 shares during the period. WASHINGTON TRUST Co raised its stake in Republic Services by 4.5% during the fourth quarter. WASHINGTON TRUST Co now owns 1,620 shares of the business services provider’s stock worth $267,000 after purchasing an additional 70 shares during the period. Finally, FinTrust Capital Advisors LLC raised its stake in Republic Services by 56.3% during the third quarter. FinTrust Capital Advisors LLC now owns 197 shares of the business services provider’s stock worth $28,000 after purchasing an additional 71 shares during the period. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Stock Down 0.5 %

Shares of NYSE:RSG opened at $185.51 on Friday. The company has a market capitalization of $58.42 billion, a PE ratio of 32.55, a P/E/G ratio of 3.24 and a beta of 0.67. The company has a current ratio of 0.53, a quick ratio of 0.56 and a debt-to-equity ratio of 1.05. Republic Services, Inc. has a twelve month low of $140.07 and a twelve month high of $196.76. The firm has a 50 day simple moving average of $188.02 and a 200-day simple moving average of $171.94.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Tuesday, April 30th. The business services provider reported $1.45 EPS for the quarter, beating the consensus estimate of $1.35 by $0.10. Republic Services had a net margin of 11.81% and a return on equity of 17.56%. The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the prior year, the firm earned $1.24 EPS. Republic Services’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities analysts predict that Republic Services, Inc. will post 6.05 EPS for the current fiscal year.

Republic Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Tuesday, July 2nd will be given a $0.535 dividend. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a $2.14 annualized dividend and a yield of 1.15%. Republic Services’s dividend payout ratio (DPR) is 37.54%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Citigroup lifted their price target on shares of Republic Services from $190.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Jefferies Financial Group lifted their price target on shares of Republic Services from $213.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, March 18th. BMO Capital Markets lifted their price target on shares of Republic Services from $173.00 to $195.00 and gave the company a “market perform” rating in a research report on Wednesday, February 28th. Truist Financial lifted 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. Finally, Royal Bank of Canada started coverage on shares of Republic Services in a research report on Monday, April 8th. They set a “sector perform” rating and a $198.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $201.00.

Insider Activity at Republic Services

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

About Republic Services

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.