SouthState Corp Cuts Stock Position in Republic Services, Inc. (NYSE:RSG)

SouthState Corp lowered its stake in Republic Services, Inc. (NYSE:RSG) by 1.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 21,381 shares of the business services provider’s stock after selling 272 shares during the quarter. SouthState Corp’s holdings in Republic Services were worth $3,526,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Republic Services by 0.3% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,150 shares of the business services provider’s stock worth $4,147,000 after acquiring an additional 66 shares in the last quarter. Parcion Private Wealth LLC grew its stake in shares of Republic Services by 0.3% during the fourth quarter. Parcion Private Wealth LLC now owns 23,808 shares of the business services provider’s stock valued at $3,926,000 after buying an additional 68 shares during the last quarter. Stokes Family Office LLC boosted its holdings in shares of Republic Services by 2.2% in the third quarter. Stokes Family Office LLC now owns 3,209 shares of the business services provider’s stock valued at $457,000 after purchasing an additional 70 shares during the period. WASHINGTON TRUST Co boosted its holdings in shares of Republic Services by 4.5% in the fourth quarter. WASHINGTON TRUST Co now owns 1,620 shares of the business services provider’s stock valued at $267,000 after purchasing an additional 70 shares during the period. Finally, FinTrust Capital Advisors LLC boosted its holdings in shares of Republic Services by 56.3% in the third quarter. FinTrust Capital Advisors LLC now owns 197 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 71 shares during the period. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insider Transactions at Republic Services

In other 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 transaction of $1,002,608.60. Following the completion of the sale, the chief executive officer now directly owns 85,113 shares of the company’s stock, valued at approximately $15,669,303.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RSG. Jefferies Financial Group upped their target price on Republic Services from $213.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Truist Financial upped their target price on Republic Services from $175.00 to $192.00 and gave the stock a “hold” rating in a report on Wednesday, February 28th. Scotiabank upped their target price on Republic Services from $211.00 to $213.00 and gave the stock a “sector perform” rating in a report on Wednesday. Citigroup increased their price objective on Republic Services from $190.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Finally, Morgan Stanley lowered Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 price objective for the company. in a report on Friday, March 15th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Republic Services presently has an average rating of “Moderate Buy” and an average price target of $201.00.

Republic Services Stock Performance

RSG traded up $0.44 during midday trading on Thursday, hitting $186.44. 2,025,710 shares of the company were exchanged, compared to its average volume of 1,257,153. Republic Services, Inc. has a 1-year low of $140.07 and a 1-year high of $196.76. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. The company’s 50 day simple moving average is $187.94 and its 200 day simple moving average is $171.57. The firm has a market capitalization of $58.72 billion, a price-to-earnings ratio of 32.65, a price-to-earnings-growth ratio of 3.35 and a beta of 0.67.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Tuesday, April 30th. The business services provider reported $1.45 EPS for the quarter, topping the consensus estimate of $1.35 by $0.10. The business had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.89 billion. Republic Services had a net margin of 11.81% and a return on equity of 17.75%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.24 earnings per share. As a group, sell-side analysts predict 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. Stockholders of record on Tuesday, July 2nd will be given a dividend of $0.535 per share. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a $2.14 annualized dividend and a dividend yield of 1.15%. Republic Services’s dividend payout ratio (DPR) is currently 37.54%.

Republic Services Company 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.