Oppenheimer & Co. Inc. Sells 819 Shares of Republic Services, Inc. (NYSE:RSG)

Posted by Defense World Staff on May 12th, 2023

Oppenheimer & Co. Inc. cut its position in shares of Republic Services, Inc. (NYSE:RSG – Get Rating) by 11.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,501 shares of the business services provider’s stock after selling 819 shares during the period. Oppenheimer & Co. Inc.’s holdings in Republic Services were worth $839,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of RSG. Invesco Ltd. boosted its stake in Republic Services by 18.4% in the 1st quarter. Invesco Ltd. now owns 2,723,076 shares of the business services provider’s stock valued at $360,808,000 after buying an additional 422,281 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Republic Services by 82.0% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 711,410 shares of the business services provider’s stock valued at $96,457,000 after buying an additional 320,491 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in 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 buying an additional 302,987 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Republic Services by 206.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 442,786 shares of the business services provider’s stock valued at $58,669,000 after buying an additional 298,238 shares in the last quarter. Finally, Ceredex Value Advisors LLC acquired a new stake in Republic Services in the 4th quarter valued at $37,486,000. 57.14% of the stock is currently owned by institutional investors.

Republic Services Trading Up 0.0 %

NYSE RSG opened at $148.12 on Friday. The stock has a 50-day simple moving average of $136.17 and a 200 day simple moving average of $132.21. The company has a market capitalization of $46.85 billion, a PE ratio of 30.92, a P/E/G ratio of 2.92 and a beta of 0.66. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 1.16. Republic Services, Inc. has a 12 month low of $119.72 and a 12 month high of $149.17.

Republic Services (NYSE:RSG – Get Rating) last released its quarterly earnings data on Thursday, April 27th. The business services provider reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.11. The business had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.43 billion. Republic Services had a return on equity of 16.66% and a net margin of 10.76%. The firm’s revenue was up 20.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.14 earnings per share. Research analysts forecast that Republic Services, Inc. will post 5.24 EPS for the current year.

Republic Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Monday, July 3rd will be issued a $0.495 dividend. The ex-dividend date of this dividend is Friday, June 30th. This represents a $1.98 annualized dividend and a dividend yield of 1.34%. Republic Services’s dividend payout ratio (DPR) is currently 41.34%.

Analyst Ratings Changes

Several brokerages recently commented on RSG. Truist Financial began coverage on Republic Services in a research note on Monday, April 17th. They issued a “hold” rating and a $146.00 price target on the stock. TD Cowen began coverage on Republic Services in a research note on Thursday, March 30th. They issued a “market perform” rating and a $150.00 price objective on the stock. 22nd Century Group reissued a “maintains” rating on shares of Republic Services in a research note on Thursday, April 27th. VNET Group reissued a “maintains” rating on shares of Republic Services in a research note on Thursday, April 27th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Republic Services from $150.00 to $140.00 in a research note on Monday, January 30th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $145.82.

Insiders Place Their Bets

In other Republic Services news, Director Jennifer M. Kirk purchased 1,000 shares of the stock in a transaction on Tuesday, February 21st. The stock was bought at an average cost of $129.60 per share, for a total transaction of $129,600.00. Following the completion of the acquisition, the director now directly owns 4,449 shares of the company’s stock, valued at $576,590.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Republic Services news, Director Katharine Weymouth sold 4,304 shares of the stock in a transaction dated 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jennifer M. Kirk purchased 1,000 shares of the stock in a transaction on Tuesday, February 21st. The stock was acquired at an average price of $129.60 per share, with a total value of $129,600.00. Following the completion of the acquisition, the director now directly owns 4,449 shares of the company’s stock, valued at $576,590.40. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

Republic Services Profile

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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.