Stonegate Investment Group LLC Reduces Position in Republic Services, Inc. (NYSE:RSG)

Stonegate Investment Group LLC decreased its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 1.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,584 shares of the business services provider’s stock after selling 817 shares during the quarter. Stonegate Investment Group LLC’s holdings in Republic Services were worth $12,938,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Schechter Investment Advisors LLC grew its holdings in shares of Republic Services by 19.4% in the third quarter. Schechter Investment Advisors LLC now owns 2,791 shares of the business services provider’s stock valued at $398,000 after purchasing an additional 453 shares during the period. abrdn plc lifted its position in shares of Republic Services by 64.1% during the fourth quarter. abrdn plc now owns 96,531 shares of the business services provider’s stock worth $15,919,000 after purchasing an additional 37,690 shares in the last quarter. First Financial Corp IN lifted its position in shares of Republic Services by 4.7% during the fourth quarter. First Financial Corp IN now owns 2,858 shares of the business services provider’s stock worth $471,000 after purchasing an additional 128 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Republic Services by 217.7% during the fourth quarter. SG Americas Securities LLC now owns 76,038 shares of the business services provider’s stock worth $12,539,000 after purchasing an additional 52,104 shares in the last quarter. Finally, Robeco Schweiz AG lifted its position in shares of Republic Services by 65.9% during the third quarter. Robeco Schweiz AG now owns 34,500 shares of the business services provider’s stock worth $4,917,000 after purchasing an additional 13,700 shares in the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insider Activity at Republic Services

In related news, CEO Ark Jon Vander sold 5,446 shares of Republic Services stock in a transaction on Monday, March 4th. The shares were sold at an average price of $184.10, for a total value of $1,002,608.60. Following the transaction, the chief executive officer now directly owns 85,113 shares in the company, valued at approximately $15,669,303.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.09% of the stock is currently owned by insiders.

Republic Services Stock Performance

Shares of RSG traded down $1.71 during mid-day trading on Tuesday, reaching $191.70. 2,045,527 shares of the company’s stock were exchanged, compared to its average volume of 1,223,444. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market capitalization of $60.38 billion, a PE ratio of 35.05, a price-to-earnings-growth ratio of 3.36 and a beta of 0.68. The business’s fifty day simple moving average is $187.85 and its 200-day simple moving average is $171.47. Republic Services, Inc. has a 52-week low of $140.07 and a 52-week high of $196.76.

Republic Services (NYSE:RSG) last announced its earnings results on Tuesday, April 30th. The business services provider reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.10. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.89 billion. Republic Services had a net margin of 11.57% and a return on equity of 17.32%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $1.24 earnings per share. On average, equities research analysts expect that Republic Services, Inc. will post 6.01 earnings per share for the current year.

Republic Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Tuesday, July 2nd will be given a $0.535 dividend. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a $2.14 dividend on an annualized basis and a yield of 1.12%. Republic Services’s dividend payout ratio (DPR) is 39.12%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Scotiabank assumed coverage on shares of Republic Services in a report on Monday, April 8th. They issued a “sector perform” rating and a $211.00 target price on the stock. Jefferies Financial Group raised their target price on shares of Republic Services from $213.00 to $225.00 and gave the company a “buy” rating in a report on Monday, March 18th. Citigroup raised their target price on shares of Republic Services from $190.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Morgan Stanley cut shares of Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 target price on the stock. in a report on Friday, March 15th. Finally, Wells Fargo & Company raised their target price on shares of Republic Services from $180.00 to $188.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $199.77.

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.