Corient Private Wealth LLC Trims Position in Republic Services, Inc. (NYSE:RSG)

Corient Private Wealth LLC reduced its stake in Republic Services, Inc. (NYSE:RSG) by 2.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 351,067 shares of the business services provider’s stock after selling 7,094 shares during the period. Corient Private Wealth LLC’s holdings in Republic Services were worth $70,628,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. McGlone Suttner Wealth Management Inc. raised its stake in shares of Republic Services by 2.2% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 2,213 shares of the business services provider’s stock valued at $445,000 after buying an additional 48 shares during the last quarter. Access Financial Services Inc. raised its position in Republic Services by 0.8% during the fourth quarter. Access Financial Services Inc. now owns 6,178 shares of the business services provider’s stock valued at $1,243,000 after acquiring an additional 51 shares in the last quarter. Hantz Financial Services Inc. boosted its position in Republic Services by 1.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 5,099 shares of the business services provider’s stock worth $1,024,000 after purchasing an additional 52 shares in the last quarter. Tower Wealth Partners Inc. grew its stake in shares of Republic Services by 3.3% during the 4th quarter. Tower Wealth Partners Inc. now owns 1,697 shares of the business services provider’s stock worth $341,000 after purchasing an additional 54 shares during the period. Finally, First Horizon Advisors Inc. lifted its stake in shares of Republic Services by 11.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 529 shares of the business services provider’s stock valued at $106,000 after purchasing an additional 55 shares during the period. 57.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, COO Gregg Brummer sold 6,293 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total value of $1,436,062.60. Following the transaction, the chief operating officer now owns 10,416 shares of the company’s stock, valued at $2,376,931.20. This represents a 37.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.09% of the stock is currently owned by company insiders.

Republic Services Stock Performance

Shares of Republic Services stock opened at $232.08 on Monday. The business’s 50 day moving average price is $221.95 and its 200 day moving average price is $211.74. The company has a market cap of $72.48 billion, a price-to-earnings ratio of 35.76, a PEG ratio of 3.64 and a beta of 0.73. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. Republic Services, Inc. has a one year low of $180.91 and a one year high of $240.95.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.21. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The firm had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the previous year, the company posted $1.41 EPS. On average, research analysts predict that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s payout ratio is presently 35.75%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. CIBC upgraded Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 target price on the stock in a research report on Tuesday, March 4th. The Goldman Sachs Group boosted their price objective on Republic Services from $239.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. UBS Group increased their target price on Republic Services from $212.00 to $240.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Royal Bank of Canada upgraded shares of Republic Services from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $219.00 to $237.00 in a research report on Monday, January 6th. Finally, Argus set a $260.00 target price on shares of Republic Services in a research report on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $236.88.

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.