IFP Advisors Inc Trims Holdings in Republic Services, Inc. (NYSE:RSG)

IFP Advisors Inc trimmed its position in Republic Services, Inc. (NYSE:RSG) by 10.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,544 shares of the business services provider’s stock after selling 185 shares during the quarter. IFP Advisors Inc’s holdings in Republic Services were worth $317,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RSG. Assenagon Asset Management S.A. increased its holdings in Republic Services by 15.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 5,663 shares of the business services provider’s stock worth $1,137,000 after acquiring an additional 746 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Republic Services by 1.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 6,102 shares of the business services provider’s stock worth $1,226,000 after acquiring an additional 96 shares in the last quarter. Tower Wealth Partners Inc. increased its holdings in Republic Services by 3.5% in the 3rd quarter. Tower Wealth Partners Inc. now owns 1,643 shares of the business services provider’s stock worth $330,000 after acquiring an additional 56 shares in the last quarter. Princeton Global Asset Management LLC increased its holdings in Republic Services by 7.4% in the 3rd quarter. Princeton Global Asset Management LLC now owns 11,129 shares of the business services provider’s stock worth $2,235,000 after acquiring an additional 769 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in Republic Services by 1.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 55,581 shares of the business services provider’s stock valued at $11,163,000 after buying an additional 726 shares in the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RSG. The Goldman Sachs Group increased their price objective on shares of Republic Services from $239.00 to $265.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Argus set a $260.00 price objective on shares of Republic Services in a report on Tuesday, February 18th. Royal Bank of Canada raised shares of Republic Services from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $219.00 to $237.00 in a report on Monday, January 6th. Stifel Nicolaus increased their price objective on shares of Republic Services from $240.00 to $257.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Finally, Truist Financial reaffirmed a “buy” rating and set a $250.00 price objective (up from $244.00) on shares of Republic Services in a report on Friday, February 14th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Republic Services presently has an average rating of “Moderate Buy” and an average target price of $234.56.

Republic Services Stock Up 2.0 %

Shares of RSG opened at $237.42 on Friday. The company has a market cap of $74.14 billion, a PE ratio of 36.58, a P/E/G ratio of 3.64 and a beta of 0.74. The business has a fifty day moving average of $215.73 and a 200 day moving average of $209.74. Republic Services, Inc. has a 52-week low of $180.91 and a 52-week high of $237.52. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.21. The company had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. During the same period last year, the company earned $1.41 earnings per share. On average, sell-side analysts expect that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $2.32 annualized dividend and a dividend yield of 0.98%. Republic Services’s dividend payout ratio (DPR) is 35.75%.

Insider Transactions at Republic Services

In other news, Director Katharine Weymouth sold 1,859 shares of Republic Services stock in a transaction 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 completion of the sale, the director now directly owns 879 shares in the company, valued at approximately $189,222.33. This trade represents a 67.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total value of $1,436,062.60. Following the sale, the chief operating officer now owns 10,416 shares of the company’s stock, valued at approximately $2,376,931.20. This trade represents a 37.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

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.