USA Financial Formulas Reduces Position in Republic Services, Inc. (NYSE:RSG)

USA Financial Formulas decreased its stake in shares of Republic Services, Inc. (NYSE:RSG) by 80.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,511 shares of the business services provider’s stock after selling 6,104 shares during the quarter. USA Financial Formulas’ holdings in Republic Services were worth $304,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Park Avenue Securities LLC lifted its holdings in Republic Services by 49.0% during the 4th quarter. Park Avenue Securities LLC now owns 7,702 shares of the business services provider’s stock valued at $1,549,000 after buying an additional 2,534 shares in the last quarter. Kathmere Capital Management LLC lifted its holdings in Republic Services by 5.0% during the 4th quarter. Kathmere Capital Management LLC now owns 3,546 shares of the business services provider’s stock valued at $713,000 after buying an additional 168 shares in the last quarter. Board of the Pension Protection Fund bought a new stake in Republic Services during the 4th quarter valued at about $825,000. Oak Thistle LLC bought a new stake in Republic Services during the 4th quarter valued at about $411,000. Finally, Tlwm lifted its holdings in Republic Services by 4.6% during the 4th quarter. Tlwm now owns 7,474 shares of the business services provider’s stock valued at $1,504,000 after buying an additional 332 shares in the last quarter. Institutional investors own 57.73% of the company’s stock.

Republic Services Stock Up 1.1 %

NYSE:RSG opened at $212.00 on Friday. The company has a market cap of $66.39 billion, a PE ratio of 33.92, a P/E/G ratio of 2.98 and a beta of 0.73. Republic Services, Inc. has a twelve month low of $165.25 and a twelve month high of $220.58. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. The company’s 50 day moving average is $209.15 and its two-hundred day moving average is $204.24.

Republic Services (NYSE:RSG) last released its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.20. The company had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. Republic Services’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.54 EPS. Analysts anticipate that Republic Services, Inc. will post 6.25 EPS for the current year.

Republic Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd were issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend was Thursday, January 2nd. Republic Services’s dividend payout ratio (DPR) is currently 37.12%.

Wall Street Analysts Forecast Growth

RSG has been the subject of several recent research reports. Scotiabank initiated coverage on shares of Republic Services in a report on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price target for the company. Morgan Stanley boosted their price target on shares of Republic Services from $217.00 to $220.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Truist Financial boosted their price target on shares of Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Oppenheimer boosted their price target on shares of Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada upgraded shares of Republic Services from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $219.00 to $237.00 in a report on Monday, January 6th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Republic Services currently has an average rating of “Moderate Buy” and an average target price of $221.12.

Insider Activity

In other Republic Services news, Director Katharine Weymouth sold 1,859 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $215.27, for a total transaction of $400,186.93. Following the transaction, the director now directly owns 879 shares of the company’s stock, valued at $189,222.33. This trade represents a 67.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the transaction, the chief financial officer now directly owns 6,318 shares in the company, valued at approximately $1,326,906.36. The trade was a 44.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.