Republic Services, Inc. (NYSE:RSG) Shares Sold by Carnegie Investment Counsel

Carnegie Investment Counsel trimmed its holdings in Republic Services, Inc. (NYSE:RSG) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 76,883 shares of the business services provider’s stock after selling 837 shares during the quarter. Carnegie Investment Counsel’s holdings in Republic Services were worth $15,467,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Republic Services by 9.0% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 11,768 shares of the business services provider’s stock worth $2,367,000 after buying an additional 973 shares during the last quarter. SignalPoint Asset Management LLC increased its stake in shares of Republic Services by 16.6% in the 4th quarter. SignalPoint Asset Management LLC now owns 1,860 shares of the business services provider’s stock valued at $374,000 after purchasing an additional 265 shares in the last quarter. Park Avenue Securities LLC boosted its position in Republic Services by 49.0% during the fourth quarter. Park Avenue Securities LLC now owns 7,702 shares of the business services provider’s stock worth $1,549,000 after purchasing an additional 2,534 shares in the last quarter. Kathmere Capital Management LLC grew its holdings in Republic Services by 5.0% in the fourth quarter. Kathmere Capital Management LLC now owns 3,546 shares of the business services provider’s stock valued at $713,000 after purchasing an additional 168 shares during the period. Finally, Board of the Pension Protection Fund purchased a new stake in shares of Republic Services in the fourth quarter valued at approximately $825,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Stock Performance

Shares of RSG stock opened at $212.00 on Friday. Republic Services, Inc. has a 52 week low of $165.25 and a 52 week high of $220.58. The firm has a 50 day moving average of $209.15 and a two-hundred day moving average of $204.24. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. The stock has a market capitalization 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 (NYSE:RSG) last released its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The firm had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same period last year, the business posted $1.54 earnings per share. Republic Services’s revenue was up 6.5% compared to the same quarter last year. On average, research analysts predict that Republic Services, Inc. will post 6.25 EPS for the current fiscal year.

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were paid a dividend of $0.58 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.09%. Republic Services’s payout ratio is 37.12%.

Insider Buying and Selling

In other news, Director Katharine Weymouth sold 1,859 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $215.27, for a total transaction of $400,186.93. Following the sale, the director now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total value of $1,065,011.42. Following the completion of the transaction, the chief financial officer now directly 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 disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

Analyst Ratings Changes

RSG has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a “hold” rating to a “buy” rating and lifted their price target for the company from $219.00 to $237.00 in a research note on Tuesday, December 10th. Truist Financial upped their price target on shares of Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Royal Bank of Canada upgraded Republic Services from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $219.00 to $237.00 in a report on Monday, January 6th. Morgan Stanley raised their target price on Republic Services from $217.00 to $220.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Finally, Scotiabank started coverage on Republic Services in a research report on Friday, October 4th. They set a “sector perform” rating and a $224.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $221.12.

Republic Services 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.