Beverly Hills Private Wealth LLC Cuts Stock Position in Republic Services, Inc. (NYSE:RSG)

Beverly Hills Private Wealth LLC trimmed its position in shares of Republic Services, Inc. (NYSE:RSG) by 5.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,609 shares of the business services provider’s stock after selling 160 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Republic Services were worth $507,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. RFG Advisory LLC lifted its holdings in shares of Republic Services by 0.5% in the 2nd quarter. RFG Advisory LLC now owns 10,603 shares of the business services provider’s stock worth $2,061,000 after acquiring an additional 53 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in Republic Services by 2.9% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,860 shares of the business services provider’s stock valued at $362,000 after buying an additional 53 shares during the period. Capital Advisors Ltd. LLC increased its holdings in shares of Republic Services by 2.9% in the first quarter. Capital Advisors Ltd. LLC now owns 1,903 shares of the business services provider’s stock worth $364,000 after buying an additional 54 shares during the period. Hexagon Capital Partners LLC lifted its stake in shares of Republic Services by 4.0% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,433 shares of the business services provider’s stock valued at $278,000 after acquiring an additional 55 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Republic Services by 1.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,917 shares of the business services provider’s stock worth $956,000 after acquiring an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insider Transactions at Republic Services

In related news, Director Tomago Collins sold 3,200 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $203.01, for a total transaction of $649,632.00. Following the completion of the sale, the director now owns 17,486 shares of the company’s stock, valued at $3,549,832.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on RSG. BMO Capital Markets increased their price objective on Republic Services from $209.00 to $211.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Royal Bank of Canada raised their price target on shares of Republic Services from $201.00 to $211.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Truist Financial raised shares of Republic Services from a “hold” rating to a “buy” rating and upped their price objective for the company from $192.00 to $220.00 in a research note on Thursday, July 11th. Oppenheimer reduced their price target on Republic Services from $211.00 to $210.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Finally, TD Cowen increased their price objective on Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $211.00.

Republic Services Stock Performance

Shares of RSG opened at $205.24 on Friday. Republic Services, Inc. has a 52 week low of $140.23 and a 52 week high of $208.69. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.05. The stock has a market cap of $64.46 billion, a P/E ratio of 36.01, a P/E/G ratio of 3.29 and a beta of 0.70. The business’s 50 day moving average price is $201.62 and its 200-day moving average price is $192.98.

Republic Services (NYSE:RSG) last released its earnings results on Wednesday, July 24th. The business services provider reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.08. The firm had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.03 billion. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. Equities research analysts anticipate that Republic Services, Inc. will post 6.18 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be issued a $0.58 dividend. The ex-dividend date is Wednesday, October 2nd. This is a boost from Republic Services’s previous quarterly dividend of $0.54. This represents a $2.32 annualized dividend and a yield of 1.13%. Republic Services’s payout ratio is 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.