Republic Services, Inc. (NYSE:RSG) Shares Sold by Financial Network Wealth Management LLC

Financial Network Wealth Management LLC cut its position in Republic Services, Inc. (NYSE:RSG) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,877 shares of the business services provider’s stock after selling 150 shares during the quarter. Financial Network Wealth Management LLC’s holdings in Republic Services were worth $1,584,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP lifted its position in Republic Services by 23.2% during the 3rd quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider’s stock worth $1,205,883,000 after acquiring an additional 1,131,850 shares during the period. Geode Capital Management LLC lifted its position in Republic Services by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,507,521 shares of the business services provider’s stock worth $903,316,000 after acquiring an additional 73,207 shares during the period. Nordea Investment Management AB lifted its position in Republic Services by 19.4% during the 4th quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock worth $626,553,000 after acquiring an additional 509,116 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Republic Services by 1.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,546,088 shares of the business services provider’s stock worth $509,462,000 after acquiring an additional 25,350 shares during the period. Finally, Stifel Financial Corp lifted its position in Republic Services by 437.9% during the 3rd quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock worth $364,449,000 after acquiring an additional 1,477,255 shares during the period. 57.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. CIBC raised Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 price target for the company in a report on Tuesday, March 4th. Jefferies Financial Group raised their price target on Republic Services from $235.00 to $244.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. UBS Group raised their price target on Republic Services from $212.00 to $240.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Stifel Nicolaus raised their price target on Republic Services from $240.00 to $257.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Finally, Truist Financial reissued a “buy” rating and issued a $250.00 price target (up from $244.00) on shares of Republic Services in a report on Friday, February 14th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $236.88.

Insider Transactions at Republic Services

In related 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 completion of the transaction, the chief operating officer now directly owns 10,416 shares in the company, valued at approximately $2,376,931.20. This represents a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.09% of the company’s stock.

Republic Services Stock Performance

NYSE RSG opened at $234.79 on Friday. Republic Services, Inc. has a fifty-two week low of $180.92 and a fifty-two week high of $240.95. The stock has a market cap of $73.32 billion, a price-to-earnings ratio of 36.18, a price-to-earnings-growth ratio of 3.64 and a beta of 0.73. The business has a fifty day moving average of $224.37 and a 200-day moving average of $212.44. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04.

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

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be issued a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.99%. Republic Services’s dividend payout ratio (DPR) is 35.75%.

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.