Greenleaf Trust Cuts Stock Position in Republic Services, Inc. (NYSE:RSG)

Posted by Defense World Staff on Apr 7th, 2023

Greenleaf Trust lowered its holdings in Republic Services, Inc. (NYSE:RSG – Get Rating) by 6.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,794 shares of the business services provider’s stock after selling 326 shares during the period. Greenleaf Trust’s holdings in Republic Services were worth $618,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Republic Services by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 18,060,294 shares of the business services provider’s stock worth $2,456,922,000 after purchasing an additional 65,697 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Republic Services by 29.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 7,226,762 shares of the business services provider’s stock worth $945,766,000 after acquiring an additional 1,657,265 shares during the last quarter. Invesco Ltd. grew its holdings in Republic Services by 18.4% during the 1st quarter. Invesco Ltd. now owns 2,723,076 shares of the business services provider’s stock worth $360,808,000 after acquiring an additional 422,281 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Republic Services by 20.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,804,322 shares of the business services provider’s stock valued at $239,073,000 after purchasing an additional 302,987 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Republic Services by 1.8% in the 2nd quarter. Legal & General Group Plc now owns 1,599,968 shares of the business services provider’s stock valued at $209,388,000 after purchasing an additional 28,305 shares in the last quarter. 57.14% of the stock is owned by hedge funds and other institutional investors.

Republic Services Price Performance

Shares of NYSE:RSG opened at $135.70 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.70 and a current ratio of 0.70. Republic Services, Inc. has a one year low of $119.72 and a one year high of $149.17. The company has a 50-day simple moving average of $129.17 and a 200-day simple moving average of $131.38. The stock has a market capitalization of $42.91 billion, a price-to-earnings ratio of 28.93, a PEG ratio of 2.88 and a beta of 0.66.

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 for the quarter, topping analysts’ consensus estimates of $1.02 by $0.11. The company had revenue of $3.53 billion during 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%. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period last year, the firm earned $1.02 EPS. On average, analysts predict 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. Shareholders of record on Monday, April 3rd will be paid a $0.495 dividend. The ex-dividend date of this dividend is Friday, March 31st. This represents a $1.98 annualized dividend and a yield of 1.46%. Republic Services’s dividend payout ratio is currently 42.22%.

Insiders Place Their Bets

In other news, Director Katharine Weymouth sold 4,304 shares of the business’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $133.56, for a total transaction of $574,842.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Republic Services news, Director Katharine Weymouth sold 4,304 shares of Republic Services stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $133.56, for a total value of $574,842.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Tomago Collins sold 1,545 shares of the stock in a transaction that occurred on Wednesday, March 22nd. The stock was sold at an average price of $130.77, for a total value of $202,039.65. Following the transaction, the director now directly owns 10,604 shares of the company’s stock, valued at $1,386,685.08. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RSG shares. StockNews.com initiated coverage on Republic Services in a report on Thursday, March 16th. They issued a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on Republic Services from $150.00 to $140.00 in a research note on Monday, January 30th. UBS Group cut shares of Republic Services from a “buy” rating to a “neutral” rating in a report on Tuesday, January 10th. Royal Bank of Canada upped their target price on shares of Republic Services from $131.00 to $134.00 and gave the company a “sector perform” rating in a report on Thursday, February 16th. Finally, Robert W. Baird upped their price objective on shares of Republic Services from $136.00 to $142.00 and gave the company a “neutral” rating in a research note on Thursday, February 16th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $145.80.

Republic Services Company Profile

(Get Rating)

Republic Services, Inc engages in the provision of environmental services. It operates through the following segments: Group 1, Group 2, and Group 3. The Group 1 segment focuses on the business of recycling and solid waste in geographic areas located in western United States. The Group 2 segment includes the recycling and solid waste business in geographic areas located in the southeastern and mid-western and the eastern seaboard of the United States.