Republic Services, Inc. (NYSE:RSG) Shares Sold by Commonwealth Equity Services LLC

Posted by on Mar 9th, 2023

Commonwealth Equity Services LLC lowered its stake in Republic Services, Inc. (NYSE:RSG – Get Rating) by 10.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,974 shares of the business services provider’s stock after selling 3,729 shares during the period. Commonwealth Equity Services LLC’s holdings in Republic Services were worth $4,349,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. D.A. Davidson & CO. acquired a new position in shares of Republic Services in the first quarter valued at about $203,000. Synovus Financial Corp raised its position in Republic Services by 1.9% during the 1st quarter. Synovus Financial Corp now owns 14,255 shares of the business services provider’s stock worth $1,890,000 after buying an additional 260 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in Republic Services by 34.6% during the 1st quarter. Vontobel Holding Ltd. now owns 3,885 shares of the business services provider’s stock valued at $523,000 after acquiring an additional 998 shares during the period. Blair William & Co. IL boosted its holdings in shares of Republic Services by 1.6% in the 1st quarter. Blair William & Co. IL now owns 31,162 shares of the business services provider’s stock valued at $4,129,000 after acquiring an additional 495 shares during the last quarter. Finally, Moors & Cabot Inc. increased its stake in shares of Republic Services by 2.9% in the first quarter. Moors & Cabot Inc. now owns 6,726 shares of the business services provider’s stock worth $891,000 after acquiring an additional 187 shares during the period. 57.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Republic Services

In other Republic Services news, Director Jennifer M. Kirk purchased 1,000 shares of the firm’s stock in a transaction dated Tuesday, February 21st. The shares were purchased at an average cost of $129.60 per share, with a total value of $129,600.00. Following the completion of the purchase, the director now owns 4,449 shares in the company, valued at approximately $576,590.40. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. BMO Capital Markets lowered their price target on shares of Republic Services from $148.00 to $138.00 and set a “market perform” rating on the stock in a report on Thursday, February 16th. Deutsche Bank Aktiengesellschaft dropped their target price on Republic Services from $150.00 to $140.00 in a report on Monday, January 30th. UBS Group downgraded Republic Services from a “buy” rating to a “neutral” rating in a report on Tuesday, January 10th. Royal Bank of Canada raised their price objective on shares of Republic Services from $131.00 to $134.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 16th. Finally, Morgan Stanley decreased their target price on shares of Republic Services from $150.00 to $144.00 and set an “overweight” rating for the company in a research note on Wednesday, January 4th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $145.33.

Republic Services Stock Performance

RSG opened at $127.98 on Thursday. The company has a market cap of $40.45 billion, a price-to-earnings ratio of 27.29, a PEG ratio of 2.70 and a beta of 0.65. The firm’s fifty day simple moving average is $126.53 and its two-hundred day simple moving average is $133.26. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.17. Republic Services, Inc. has a 52-week low of $119.72 and a 52-week high of $149.17.

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

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Monday, April 3rd will be paid a dividend of $0.495 per share. The ex-dividend date is Friday, March 31st. This represents a $1.98 annualized dividend and a yield of 1.55%. Republic Services’s dividend payout ratio (DPR) is presently 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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