Patten & Patten Inc. TN Has $2.72 Million Stake in Republic Services, Inc. (NYSE:RSG)

Patten & Patten Inc. TN reduced its holdings in Republic Services, Inc. (NYSE:RSG) by 3.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,501 shares of the business services provider’s stock after selling 549 shares during the period. Patten & Patten Inc. TN’s holdings in Republic Services were worth $2,716,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RSG. FSA Wealth Management LLC bought a new position in Republic Services in the third quarter valued at approximately $25,000. Arcadia Investment Management Corp MI boosted its holdings in shares of Republic Services by 200.0% during the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock worth $27,000 after buying an additional 88 shares during the period. R Squared Ltd bought a new stake in shares of Republic Services during the 4th quarter valued at approximately $32,000. Truvestments Capital LLC bought a new stake in shares of Republic Services during the 3rd quarter valued at approximately $34,000. Finally, Bank of Jackson Hole Trust bought a new stake in shares of Republic Services during the 4th quarter valued at approximately $48,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Stock Performance

Shares of RSG opened at $232.08 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $72.48 billion, a P/E ratio of 35.76, a price-to-earnings-growth ratio of 3.64 and a beta of 0.73. The firm’s fifty day simple moving average is $221.95 and its two-hundred day simple moving average is $211.71. Republic Services, Inc. has a 12 month low of $180.91 and a 12 month high of $240.95.

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

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services’s dividend payout ratio is presently 35.75%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on RSG shares. Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a “hold” rating to a “buy” rating and lifted their price target for the company from $219.00 to $237.00 in a report on Tuesday, December 10th. UBS Group boosted their price target on Republic Services from $212.00 to $240.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Truist Financial restated a “buy” rating and set a $250.00 price target (up from $244.00) on shares of Republic Services in a report on Friday, February 14th. The Goldman Sachs Group boosted their price target on Republic Services from $239.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Finally, Royal Bank of Canada upgraded Republic Services from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $219.00 to $237.00 in a report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.88.

Insider Buying and Selling

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the transaction, the chief operating officer now owns 10,416 shares in the company, valued at approximately $2,376,931.20. This represents a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.09% of the stock is owned by insiders.

Republic Services 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.