Canandaigua National Trust Co of Florida Takes Position in Republic Services, Inc. (NYSE:RSG)

Canandaigua National Trust Co of Florida acquired a new stake in shares of Republic Services, Inc. (NYSE:RSG) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 1,226 shares of the business services provider’s stock, valued at approximately $247,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. FSA Wealth Management LLC purchased a new position in Republic Services in the 3rd quarter worth $25,000. Wolff Wiese Magana LLC raised its position in Republic Services by 351.6% in the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock worth $28,000 after purchasing an additional 109 shares during the period. Webster Bank N. A. purchased a new position in Republic Services in the 3rd quarter worth $31,000. Truvestments Capital LLC purchased a new position in Republic Services in the 3rd quarter worth $34,000. Finally, Itau Unibanco Holding S.A. purchased a new position in Republic Services in the 2nd quarter worth $36,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Stock Down 0.1 %

NYSE RSG traded down $0.11 during trading hours on Monday, reaching $200.93. 855,576 shares of the company’s stock traded hands, compared to its average volume of 835,457. Republic Services, Inc. has a 52-week low of $162.27 and a 52-week high of $220.58. The firm has a market cap of $62.92 billion, a PE ratio of 32.15, a PEG ratio of 3.30 and a beta of 0.71. The firm has a 50-day simple moving average of $208.38 and a 200 day simple moving average of $203.62. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64.

Republic Services (NYSE:RSG) last issued its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.20. The business had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.54 earnings per share. Sell-side analysts anticipate that Republic Services, Inc. will post 6.25 EPS for the current fiscal year.

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a $0.58 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 annualized dividend and a yield of 1.15%. Republic Services’s dividend payout ratio (DPR) is presently 37.12%.

Insiders Place Their Bets

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the completion of the transaction, the chief financial officer now directly owns 6,318 shares of the company’s stock, valued at $1,326,906.36. The trade was a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Katharine Weymouth sold 1,859 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $215.27, for a total transaction of $400,186.93. Following the transaction, the director now directly owns 879 shares of the company’s stock, valued at $189,222.33. The trade was a 67.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RSG. Morgan Stanley lifted their target price on shares of Republic Services from $217.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Truist Financial raised their price target on shares of Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Scotiabank began coverage on shares of Republic Services in a report on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price target on the stock. Oppenheimer raised their price target on shares of Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a “hold” rating to a “buy” rating and raised their price target for the stock from $219.00 to $237.00 in a report on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Republic Services presently has a consensus rating of “Moderate Buy” and an average price target of $221.12.

About Republic Services

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.