Corient Private Wealth LLC Sells 7,094 Shares of Republic Services, Inc. (NYSE:RSG)

Corient Private Wealth LLC reduced its position in Republic Services, Inc. (NYSE:RSG) by 2.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 351,067 shares of the business services provider’s stock after selling 7,094 shares during the period. Corient Private Wealth LLC owned about 0.11% of Republic Services worth $70,628,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FSA Wealth Management LLC bought a new position in shares of Republic Services during the 3rd quarter valued at $25,000. Arcadia Investment Management Corp MI lifted its holdings in Republic Services by 200.0% in the fourth quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 88 shares during the period. R Squared Ltd purchased a new position in Republic Services in the fourth quarter worth about $32,000. Truvestments Capital LLC bought a new stake in shares of Republic Services during the 3rd quarter valued at about $34,000. Finally, Bank of Jackson Hole Trust bought a new position in shares of Republic Services in the 4th quarter worth approximately $48,000. 57.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Cibc World Mkts raised shares of Republic Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 4th. BMO Capital Markets raised Republic Services from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $211.00 to $238.00 in a report on Friday, December 6th. The Goldman Sachs Group boosted their price target on Republic Services from $239.00 to $265.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Truist Financial reaffirmed a “buy” rating and set a $250.00 price objective (up from $244.00) on shares of Republic Services in a research report on Friday, February 14th. Finally, CIBC raised shares of Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 target price for the company in a report on Tuesday, March 4th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $236.88.

Insider Activity

In related news, COO Gregg Brummer sold 6,293 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.09% of the company’s stock.

Republic Services Stock Up 1.2 %

NYSE RSG opened at $232.08 on Monday. The stock has a 50 day moving average price of $221.95 and a 200-day moving average price of $211.74. Republic Services, Inc. has a one year low of $180.91 and a one year high of $240.95. The company has a market capitalization of $72.48 billion, a P/E ratio of 35.76, a P/E/G 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 (NYSE:RSG) last released its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.37 by $0.21. The company had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. During the same quarter last year, the business posted $1.41 earnings per share. As a group, equities analysts predict that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Announces Dividend

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