GeoWealth Management LLC Lowers Position in Republic Services, Inc. (NYSE:RSG)

GeoWealth Management LLC reduced its stake in Republic Services, Inc. (NYSE:RSG) by 7.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 811 shares of the business services provider’s stock after selling 64 shares during the period. GeoWealth Management LLC’s holdings in Republic Services were worth $163,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. McGlone Suttner Wealth Management Inc. boosted its position 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 worth $445,000 after purchasing an additional 48 shares during the period. Access Financial Services Inc. boosted its position in shares of 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 worth $1,243,000 after buying an additional 51 shares during the period. Tower Wealth Partners Inc. raised its holdings in shares of Republic Services by 3.3% in the 4th quarter. Tower Wealth Partners Inc. now owns 1,697 shares of the business services provider’s stock valued at $341,000 after buying an additional 54 shares during the period. Umpqua Bank lifted its stake in Republic Services by 3.2% during the 4th quarter. Umpqua Bank now owns 1,808 shares of the business services provider’s stock worth $374,000 after acquiring an additional 56 shares in the last quarter. Finally, Fidelis Capital Partners LLC boosted its holdings in Republic Services by 3.9% during the 4th quarter. Fidelis Capital Partners LLC now owns 1,579 shares of the business services provider’s stock valued at $349,000 after acquiring an additional 59 shares during the period. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insider Activity

In related news, COO Gregg Brummer sold 6,293 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was 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 owns 10,416 shares of the company’s stock, valued at $2,376,931.20. This trade represents a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

RSG has been the topic of several research reports. Royal Bank of Canada raised shares of Republic Services from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $219.00 to $237.00 in a research report on Monday, January 6th. Argus set a $260.00 price target on shares of Republic Services in a research report on Tuesday, February 18th. The Goldman Sachs Group upped their price objective on Republic Services from $239.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Truist Financial lifted their target price on Republic Services from $250.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Morgan Stanley upped their price target on Republic Services from $220.00 to $230.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $240.38.

Republic Services Trading Down 0.5 %

Shares of Republic Services stock opened at $241.26 on Thursday. The company has a fifty day simple moving average of $236.37 and a 200-day simple moving average of $218.88. Republic Services, Inc. has a 12-month low of $180.92 and a 12-month high of $249.73. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04. The stock has a market cap of $75.34 billion, a price-to-earnings ratio of 37.17, a PEG ratio of 3.64 and a beta of 0.62.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter last year, the company posted $1.41 earnings per share. On average, equities analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd were given a dividend of $0.58 per share. The ex-dividend date was Wednesday, April 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.96%. Republic Services’s dividend payout ratio (DPR) is presently 35.75%.

Republic Services 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.