Corbyn Investment Management Inc. MD Has $22.20 Million Stock Position in Republic Services, Inc. (NYSE:RSG)

Corbyn Investment Management Inc. MD trimmed its position in Republic Services, Inc. (NYSE:RSG) by 6.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 110,527 shares of the business services provider’s stock after selling 8,024 shares during the period. Republic Services comprises 8.5% of Corbyn Investment Management Inc. MD’s investment portfolio, making the stock its biggest position. Corbyn Investment Management Inc. MD’s holdings in Republic Services were worth $22,198,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Wolff Wiese Magana LLC boosted its stake in Republic Services by 351.6% in the third quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 109 shares during the last quarter. EntryPoint Capital LLC purchased a new position in Republic Services in the first quarter valued at about $29,000. Webster Bank N. A. purchased a new position in Republic Services in the third quarter valued at about $31,000. Itau Unibanco Holding S.A. purchased a new position in Republic Services in the second quarter valued at about $36,000. Finally, Ashton Thomas Securities LLC purchased a new position in Republic Services in the third quarter valued at about $39,000. 57.73% of the stock is owned by institutional investors.

Republic Services Stock Performance

NYSE RSG opened at $208.04 on Monday. Republic Services, Inc. has a 1 year low of $157.46 and a 1 year high of $216.18. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market capitalization of $65.15 billion, a PE ratio of 33.29, a P/E/G ratio of 3.18 and a beta of 0.70. The company’s 50 day simple moving average is $203.84 and its two-hundred day simple moving average is $198.10.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.20. The firm had revenue of $4.08 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.54 EPS. Analysts predict that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Thursday, January 2nd. Republic Services’s payout ratio is 37.12%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on RSG shares. Morgan Stanley boosted their target price on shares of Republic Services from $208.00 to $217.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Robert W. Baird upped their price target on shares of Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Scotiabank started coverage on shares of Republic Services in a research note on Friday, October 4th. They set a “sector perform” rating and a $224.00 price target on the stock. Oppenheimer upped their price target on shares of Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, William Blair started coverage on shares of Republic Services in a research note on Thursday, October 3rd. They set an “outperform” rating on the stock. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $215.71.

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.