Wedgewood Investors Inc. PA Has $999,000 Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Wedgewood Investors Inc. PA lowered its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 9.1% during the fourth quarter, Holdings Channel reports. The firm owned 4,965 shares of the business services provider’s stock after selling 500 shares during the period. Republic Services accounts for about 1.2% of Wedgewood Investors Inc. PA’s portfolio, making the stock its 25th largest position. Wedgewood Investors Inc. PA’s holdings in Republic Services were worth $999,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of RSG. McGlone Suttner Wealth Management Inc. raised its position in shares of Republic Services by 2.2% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 2,213 shares of the business services provider’s stock valued at $445,000 after purchasing an additional 48 shares during the period. Simmons Bank raised its holdings in Republic Services by 2.8% in the 3rd quarter. Simmons Bank now owns 1,895 shares of the business services provider’s stock worth $381,000 after acquiring an additional 51 shares during the period. Access Financial Services Inc. boosted its holdings in Republic Services by 0.8% during the fourth quarter. Access Financial Services Inc. now owns 6,178 shares of the business services provider’s stock valued at $1,243,000 after acquiring an additional 51 shares during the period. Hantz Financial Services Inc. grew its position in shares of Republic Services by 1.0% in the third quarter. Hantz Financial Services Inc. now owns 5,099 shares of the business services provider’s stock valued at $1,024,000 after purchasing an additional 52 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its stake in shares of Republic Services by 16.5% in the third quarter. Venturi Wealth Management LLC now owns 382 shares of the business services provider’s stock worth $77,000 after purchasing an additional 54 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Stock Up 2.9 %

Shares of NYSE RSG opened at $230.98 on Friday. The business has a fifty day moving average of $210.94 and a two-hundred day moving average of $207.33. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64. Republic Services, Inc. has a 52-week low of $177.03 and a 52-week high of $232.52. The stock has a market cap of $72.33 billion, a PE ratio of 36.96, a PEG ratio of 3.24 and a beta of 0.74.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.21. The firm had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. During the same period in the prior year, the firm earned $1.41 earnings per share. As a group, equities research analysts expect that Republic Services, Inc. will post 6.25 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s dividend payout ratio is currently 37.12%.

Insider Activity

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now owns 6,318 shares in the company, valued at approximately $1,326,906.36. This trade represents a 44.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Katharine Weymouth sold 1,859 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total transaction of $400,186.93. Following the transaction, the director now owns 879 shares in the company, valued at $189,222.33. The trade was a 67.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on RSG shares. Morgan Stanley raised their target price on Republic Services from $220.00 to $230.00 and gave the company an “equal weight” rating in a report on Friday. BMO Capital Markets upgraded shares of Republic Services from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $211.00 to $238.00 in a research note on Friday, December 6th. CIBC upped their target price on shares of Republic Services from $217.00 to $227.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. William Blair restated an “outperform” rating on shares of Republic Services in a research report on Friday. Finally, Truist Financial reiterated a “buy” rating and issued a $250.00 target price (up previously from $244.00) on shares of Republic Services in a research note on Friday. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Republic Services has an average rating of “Moderate Buy” and an average target price of $225.38.

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.