Cassia Capital Partners LLC Lowers Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Cassia Capital Partners LLC lowered its stake in Republic Services, Inc. (NYSE:RSG) by 7.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,641 shares of the business services provider’s stock after selling 306 shares during the period. Cassia Capital Partners LLC’s holdings in Republic Services were worth $731,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. State Board of Administration of Florida Retirement System grew its stake in shares of Republic Services by 8.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 239,031 shares of the business services provider’s stock worth $45,760,000 after purchasing an additional 19,414 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Republic Services by 32.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,296 shares of the business services provider’s stock valued at $18,052,000 after purchasing an additional 23,306 shares during the last quarter. PGGM Investments lifted its holdings in shares of Republic Services by 264.3% during the second quarter. PGGM Investments now owns 8,842 shares of the business services provider’s stock valued at $1,718,000 after purchasing an additional 6,415 shares during the last quarter. Forsta AP Fonden raised its holdings in Republic Services by 11.7% in the 1st quarter. Forsta AP Fonden now owns 45,000 shares of the business services provider’s stock worth $8,615,000 after acquiring an additional 4,700 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Republic Services by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 18,254,878 shares of the business services provider’s stock worth $3,494,714,000 after acquiring an additional 101,518 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insiders Place Their Bets

In other Republic Services news, Director Tomago Collins sold 3,200 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $203.01, for a total value of $649,632.00. Following the completion of the transaction, the director now owns 17,486 shares of the company’s stock, valued at approximately $3,549,832.86. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Republic Services Stock Down 0.5 %

RSG traded down $1.03 during trading on Monday, hitting $203.77. The stock had a trading volume of 204,462 shares, compared to its average volume of 1,137,513. The company has a market capitalization of $64.17 billion, a PE ratio of 35.62, a PEG ratio of 3.30 and a beta of 0.69. Republic Services, Inc. has a twelve month low of $142.65 and a twelve month high of $208.69. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a 50 day simple moving average of $203.92 and a two-hundred day simple moving average of $195.94.

Republic Services (NYSE:RSG) last announced its earnings results on Wednesday, July 24th. The business services provider reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.08. The company had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.03 billion. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. On average, research analysts predict that Republic Services, Inc. will post 6.18 earnings per share for the current year.

Republic Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd were issued a $0.58 dividend. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.14%. This is a boost from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s dividend payout ratio (DPR) is currently 40.70%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on RSG shares. Scotiabank began coverage on shares of Republic Services in a research note on Friday, October 4th. They set a “sector perform” rating and a $224.00 target price for the company. William Blair began coverage on shares of Republic Services in a report on Thursday, October 3rd. They set an “outperform” rating for the company. TD Cowen upped their target price on shares of Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a research note on Monday, August 5th. Stifel Nicolaus upped their target price on shares of Republic Services from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, Truist Financial upgraded shares of Republic Services from a “hold” rating to a “buy” rating and upped their target price for the stock from $192.00 to $220.00 in a research note on Thursday, July 11th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $212.18.

Republic Services Company 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.