Republic Services, Inc. (NYSE:RSG) Shares Sold by Centaurus Financial Inc.

Centaurus Financial Inc. decreased its position in Republic Services, Inc. (NYSE:RSG) by 31.9% in the 3rd quarter, Holdings Channel reports. The fund owned 2,153 shares of the business services provider’s stock after selling 1,008 shares during the period. Centaurus Financial Inc.’s holdings in Republic Services were worth $432,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its stake in Republic Services by 2.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,520,738 shares of the business services provider’s stock worth $506,265,000 after buying an additional 57,040 shares during the period. Legal & General Group Plc increased its position in shares of Republic Services by 5.4% during 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 acquiring an additional 92,013 shares during the last quarter. TD Asset Management Inc lifted its stake in shares of Republic Services by 2.1% in the second quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider’s stock worth $341,602,000 after acquiring an additional 35,650 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Republic Services by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 1,476,116 shares of the business services provider’s stock valued at $286,868,000 after purchasing an additional 3,809 shares during the last quarter. Finally, Earnest Partners LLC increased its holdings in Republic Services by 1.9% during the 2nd quarter. Earnest Partners LLC now owns 1,286,053 shares of the business services provider’s stock worth $249,932,000 after purchasing an additional 23,534 shares during the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Stock Up 0.4 %

Shares of Republic Services stock opened at $218.80 on Wednesday. The company has a market capitalization of $68.52 billion, a P/E ratio of 35.01, a PEG ratio of 3.31 and a beta of 0.70. The business’s fifty day moving average price is $205.15 and its two-hundred day moving average price is $199.43. Republic Services, Inc. has a 1-year low of $159.10 and a 1-year high of $219.94. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64.

Republic Services (NYSE:RSG) last announced its earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter in the previous year, the company earned $1.54 earnings per share. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, research analysts forecast that Republic Services, Inc. will post 6.24 EPS for the current year.

Republic Services Dividend Announcement

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 issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Thursday, January 2nd. Republic Services’s payout ratio is 37.12%.

Insider Transactions at Republic Services

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total value of $1,065,011.42. Following the completion of the transaction, the chief financial officer now owns 6,318 shares of the company’s stock, valued at approximately $1,326,906.36. This trade represents a 44.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on RSG. Truist Financial increased their target price on Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. CIBC boosted their target price on shares of Republic Services from $208.00 to $217.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Morgan Stanley increased their price target on shares of Republic Services from $208.00 to $217.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. William Blair assumed coverage on Republic Services in a research note on Thursday, October 3rd. They set an “outperform” rating on the stock. Finally, Oppenheimer lifted their target price on Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus 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.