Raymond James & Associates Reduces Stock Position in Republic Services, Inc. (NYSE:RSG)

Raymond James & Associates lessened its position in shares of Republic Services, Inc. (NYSE:RSG) by 0.0% during the 1st quarter, Holdings Channel reports. The firm owned 726,995 shares of the business services provider’s stock after selling 156 shares during the quarter. Raymond James & Associates’ holdings in Republic Services were worth $139,176,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Cassia Capital Partners LLC grew its stake in Republic Services by 22.5% during the 1st quarter. Cassia Capital Partners LLC now owns 3,729 shares of the business services provider’s stock valued at $714,000 after purchasing an additional 686 shares during the last quarter. Maryland State Retirement & Pension System lifted its holdings in shares of Republic Services by 2.8% in the 1st quarter. Maryland State Retirement & Pension System now owns 16,210 shares of the business services provider’s stock valued at $3,043,000 after buying an additional 439 shares during the period. First Trust Direct Indexing L.P. lifted its holdings in shares of Republic Services by 8.9% in the 1st quarter. First Trust Direct Indexing L.P. now owns 8,202 shares of the business services provider’s stock valued at $1,570,000 after buying an additional 668 shares during the period. Norden Group LLC lifted its holdings in shares of Republic Services by 2,181.7% in the 1st quarter. Norden Group LLC now owns 77,120 shares of the business services provider’s stock valued at $14,764,000 after buying an additional 73,740 shares during the period. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Republic Services by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 22,190 shares of the business services provider’s stock valued at $4,248,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RSG. Truist Financial boosted their price objective on Republic Services from $175.00 to $192.00 and gave the company a “hold” rating in a report on Wednesday, February 28th. UBS Group cut Republic Services from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $175.00 to $195.00 in a report on Thursday, February 29th. Wells Fargo & Company boosted their price objective on Republic Services from $180.00 to $188.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Royal Bank of Canada initiated coverage on Republic Services in a report on Monday, April 8th. They issued a “sector perform” rating and a $198.00 price target for the company. Finally, Morgan Stanley cut Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 price target for the company. in a report on Friday, March 15th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $199.77.

Republic Services Price Performance

NYSE:RSG traded down $1.71 during trading hours on Tuesday, hitting $191.70. 2,045,527 shares of the stock were exchanged, compared to its average volume of 1,223,444. Republic Services, Inc. has a 52-week low of $140.07 and a 52-week high of $196.76. The firm’s fifty day moving average price is $187.85 and its 200 day moving average price is $171.47. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. The company has a market cap of $60.38 billion, a P/E ratio of 35.05, a P/E/G ratio of 3.36 and a beta of 0.68.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Tuesday, April 30th. The business services provider reported $1.45 EPS for the quarter, topping the consensus estimate of $1.35 by $0.10. The company had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.89 billion. Republic Services had a return on equity of 17.32% and a net margin of 11.57%. Republic Services’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.24 EPS. As a group, equities research analysts anticipate that Republic Services, Inc. will post 6.01 EPS for the current fiscal year.

Republic Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Tuesday, July 2nd will be given a $0.535 dividend. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a $2.14 annualized dividend and a yield of 1.12%. Republic Services’s payout ratio is 39.12%.

Insider Buying and Selling

In other Republic Services news, CEO Ark Jon Vander sold 5,446 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the transaction, the chief executive officer now directly owns 85,113 shares in the company, valued at $15,669,303.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is currently owned by company insiders.

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.