Republic Services, Inc. (NYSE:RSG) Shares Sold by Dearborn Partners LLC

Dearborn Partners LLC lessened its stake in shares of Republic Services, Inc. (NYSE:RSG) by 2.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 223,214 shares of the business services provider’s stock after selling 6,166 shares during the period. Republic Services comprises about 1.8% of Dearborn Partners LLC’s portfolio, making the stock its 12th largest holding. Dearborn Partners LLC’s holdings in Republic Services were worth $44,830,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Republic Services by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 18,254,878 shares of the business services provider’s stock valued at $3,494,714,000 after buying an additional 101,518 shares in the last quarter. Capital World Investors increased its position in Republic Services by 20.5% during the first quarter. Capital World Investors now owns 7,909,008 shares of the business services provider’s stock worth $1,514,100,000 after buying an additional 1,346,588 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Republic Services by 2.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,520,738 shares of the business services provider’s stock valued at $506,265,000 after buying an additional 57,040 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Republic Services by 5.4% in the second quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider’s stock worth $351,480,000 after buying an additional 92,013 shares during the last quarter. Finally, TD Asset Management Inc increased its holdings in shares of Republic Services by 2.1% during the 2nd quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider’s stock valued at $341,602,000 after acquiring an additional 35,650 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Price Performance

Shares of RSG opened at $209.46 on Friday. The stock has a market cap of $65.59 billion, a P/E ratio of 33.51, a price-to-earnings-growth ratio of 3.28 and a beta of 0.70. Republic Services, Inc. has a 1 year low of $156.83 and a 1 year high of $216.18. The stock’s 50-day moving average price is $203.66 and its two-hundred day moving average price is $197.79. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.20. The firm had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.54 earnings per share. On average, equities analysts predict that Republic Services, Inc. will post 6.24 earnings per share for the current year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be paid a dividend of $0.58 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 1.11%. Republic Services’s payout ratio is 37.12%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. StockNews.com cut Republic Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Truist Financial boosted their target price on shares of Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Royal Bank of Canada lifted their price objective on Republic Services from $211.00 to $219.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. CIBC lifted their price target on shares of Republic Services from $208.00 to $217.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Scotiabank began coverage on shares of Republic Services in a research note on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price objective for the company. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $215.71.

About Republic Services

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.