Rhumbline Advisers Sells 15,017 Shares of Republic Services, Inc. (NYSE:RSG)

Rhumbline Advisers lessened its stake in shares of Republic Services, Inc. (NYSE:RSG) by 3.3% in the 4th quarter, Holdings Channel reports. The firm owned 440,583 shares of the business services provider’s stock after selling 15,017 shares during the period. Rhumbline Advisers’ holdings in Republic Services were worth $88,636,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FSA Wealth Management LLC purchased a new stake in shares of Republic Services during the 3rd quarter valued at about $25,000. R Squared Ltd purchased a new stake in shares of Republic Services during the 4th quarter valued at about $32,000. Truvestments Capital LLC purchased a new stake in shares of Republic Services during the 3rd quarter valued at about $34,000. Ashton Thomas Securities LLC purchased a new stake in shares of Republic Services during the 3rd quarter valued at about $39,000. Finally, Kieckhefer Group LLC purchased a new stake in shares of Republic Services during the 4th quarter valued at about $50,000. Institutional investors own 57.73% of the company’s stock.

Republic Services Price Performance

NYSE RSG opened at $230.98 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64. The firm’s 50 day moving average price is $210.94 and its 200-day moving average price is $207.33. Republic Services, Inc. has a 52-week low of $177.03 and a 52-week high of $232.52. The company has a market cap of $72.33 billion, a PE ratio of 36.96, a P/E/G ratio of 3.24 and a beta of 0.74.

Republic Services (NYSE:RSG) last announced its earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.21. The company had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. During the same period last year, the firm earned $1.41 earnings per share. Sell-side analysts forecast that Republic Services, Inc. will post 6.25 EPS for the current fiscal year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be paid a dividend of $0.58 per share. The ex-dividend date is Wednesday, April 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.00%. Republic Services’s payout ratio is currently 37.12%.

Insider Transactions at Republic Services

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the firm’s 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 completion of the transaction, the chief financial officer now owns 6,318 shares of the company’s stock, valued at $1,326,906.36. This trade represents a 44.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Katharine Weymouth sold 1,859 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was 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 approximately $189,222.33. This trade represents a 67.90 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

RSG has been the topic of several recent research reports. Truist Financial restated a “buy” rating and set a $250.00 target price (up from $244.00) on shares of Republic Services in a research report on Friday. CIBC increased their price objective on shares of Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Morgan Stanley increased their price objective on shares of Republic Services from $220.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Friday. William Blair reissued an “outperform” rating on shares of Republic Services in a research report on Friday. Finally, BMO Capital Markets raised shares of Republic Services from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $211.00 to $238.00 in a research report on Friday, December 6th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $225.38.

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.