Montag A & Associates Inc. Sells 8,515 Shares of Republic Services, Inc. (NYSE:RSG)

Montag A & Associates Inc. lowered its stake in Republic Services, Inc. (NYSE:RSG) by 35.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,485 shares of the business services provider’s stock after selling 8,515 shares during the quarter. Montag A & Associates Inc.’s holdings in Republic Services were worth $2,562,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Bogart Wealth LLC acquired a new position in shares of Republic Services in the fourth quarter valued at $30,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Republic Services during the 4th quarter valued at $34,000. BKM Wealth Management LLC acquired a new stake in shares of Republic Services in the 4th quarter valued at about $37,000. Bruce G. Allen Investments LLC acquired a new position in shares of Republic Services during the fourth quarter worth approximately $41,000. Finally, Millburn Ridgefield Corp acquired a new position in shares of Republic Services during the third quarter valued at about $36,000. Institutional investors own 57.73% of the company’s stock.

Republic Services Price Performance

Shares of NYSE RSG traded up $0.80 during midday trading on Thursday, hitting $188.13. 954,226 shares of the company’s stock were exchanged, compared to its average volume of 1,253,367. Republic Services, Inc. has a 12-month low of $140.07 and a 12-month high of $196.76. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.05. The company has a market cap of $59.25 billion, a price-to-earnings ratio of 33.01, a PEG ratio of 3.22 and a beta of 0.67. The business’s fifty day moving average price is $188.16 and its two-hundred day moving average price is $172.97.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Tuesday, April 30th. The business services provider reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.10. Republic Services had a return on equity of 17.56% and a net margin of 11.81%. The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the previous year, the company posted $1.24 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. As a group, research analysts forecast that Republic Services, Inc. will post 6.05 EPS for the current fiscal year.

Republic Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, July 2nd will be issued a $0.535 dividend. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a $2.14 dividend on an annualized basis and a yield of 1.14%. Republic Services’s dividend payout ratio (DPR) is 37.54%.

Insiders Place Their Bets

In other news, CMO Amanda Hodges sold 6,500 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $186.02, for a total value of $1,209,130.00. Following the sale, the chief marketing officer now directly owns 6,831 shares of the company’s stock, valued at $1,270,702.62. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Republic Services news, CEO Ark Jon Vander sold 5,446 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $184.10, for a total value of $1,002,608.60. Following the transaction, the chief executive officer now directly owns 85,113 shares of the company’s stock, valued at $15,669,303.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Amanda Hodges sold 6,500 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $186.02, for a total value of $1,209,130.00. Following the completion of the transaction, the chief marketing officer now directly owns 6,831 shares in the company, valued at approximately $1,270,702.62. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on RSG. Royal Bank of Canada began coverage on shares of Republic Services in a report on Monday, April 8th. They issued a “sector perform” rating and a $198.00 target price for the company. Wells Fargo & Company boosted their price objective on Republic Services from $180.00 to $188.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. BMO Capital Markets lifted their target price on Republic Services from $173.00 to $195.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 28th. Truist Financial lifted their target price on Republic Services from $175.00 to $192.00 and gave the stock a “hold” rating in a research note on Wednesday, February 28th. Finally, Scotiabank lifted their target price on Republic Services from $211.00 to $213.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 1st. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $201.00.

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.