Republic Services, Inc. (NYSE:RSG) Stock Position Lowered by Gamco Investors INC. ET AL

Posted by on Feb 25th, 2023

Gamco Investors INC. ET AL lowered its holdings in shares of Republic Services, Inc. (NYSE:RSG – Get Rating) by 3.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 774,055 shares of the business services provider’s stock after selling 31,580 shares during the period. Republic Services comprises 1.2% of Gamco Investors INC. ET AL’s portfolio, making the stock its 9th largest holding. Gamco Investors INC. ET AL owned approximately 0.24% of Republic Services worth $105,302,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of RSG. Asset Dedication LLC purchased a new stake in Republic Services in the 3rd quarter valued at approximately $25,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of Republic Services by 94.3% during the third quarter. Massmutual Trust Co. FSB ADV now owns 206 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 100 shares during the last quarter. Guardian Wealth Advisors LLC acquired a new position in Republic Services in the 3rd quarter valued at about $31,000. Washington Trust Advisors Inc. purchased a new position in Republic Services in the 3rd quarter valued at about $35,000. Finally, TCI Wealth Advisors Inc. grew its holdings in shares of Republic Services by 44.5% during the third quarter. TCI Wealth Advisors Inc. now owns 357 shares of the business services provider’s stock worth $49,000 after buying an additional 110 shares in the last quarter. 57.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Republic Services

In other news, Director Jennifer M. Kirk purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 21st. The shares were purchased at an average price of $129.60 per share, with a total value of $129,600.00. Following the purchase, the director now directly owns 4,449 shares of the company’s stock, valued at approximately $576,590.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on RSG shares. Robert W. Baird raised their target price on shares of Republic Services from $136.00 to $142.00 and gave the stock a “neutral” rating in a research report on Thursday, February 16th. BMO Capital Markets lowered their price objective on Republic Services from $148.00 to $138.00 and set a “market perform” rating for the company in a research report on Thursday, February 16th. Royal Bank of Canada raised their price target on Republic Services from $131.00 to $134.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 16th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Republic Services from $150.00 to $140.00 in a research note on Monday, January 30th. Finally, Oppenheimer lowered their target price on shares of Republic Services to $148.00 in a report on Tuesday, November 1st. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.33.

Republic Services Stock Performance

Shares of RSG stock opened at $129.61 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.17. The company has a market cap of $40.96 billion, a PE ratio of 27.64, a P/E/G ratio of 2.73 and a beta of 0.66. The company’s fifty day simple moving average is $126.79 and its 200-day simple moving average is $134.26. Republic Services, Inc. has a 52 week low of $117.50 and a 52 week high of $149.17.

Republic Services (NYSE:RSG – Get Rating) last issued its quarterly earnings data on Wednesday, February 15th. The business services provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.11. Republic Services had a return on equity of 16.72% and a net margin of 11.01%. The company had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.46 billion. During the same quarter in the previous year, the firm posted $1.02 earnings per share. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. As a group, equities research analysts anticipate that Republic Services, Inc. will post 5.18 EPS for the current year.

Republic Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Monday, April 3rd will be paid a dividend of $0.495 per share. The ex-dividend date of this dividend is Friday, March 31st. This represents a $1.98 dividend on an annualized basis and a dividend yield of 1.53%. Republic Services’s dividend payout ratio is currently 42.22%.

About Republic Services

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Republic Services, Inc engages in the provision of services in the domestic non-hazardous solid waste industry. It provides integrated waste management services, which offers non-hazardous solid waste collection, transfer, recycling, disposal and energy services. The firm operates through the following segments: Group 1, Group 2, and Corporate Entities & Other.

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Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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