Sterling Investment Management LLC Has $1.16 Million Stock Position in Republic Services, Inc. (NYSE:RSG)

Sterling Investment Management LLC reduced its holdings in Republic Services, Inc. (NYSE:RSG) by 1.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 7,566 shares of the business services provider’s stock after selling 117 shares during the quarter. Sterling Investment Management LLC’s holdings in Republic Services were worth $1,159,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Republic Services by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 17,800,921 shares of the business services provider’s stock valued at $2,358,621,000 after buying an additional 168,696 shares during the last quarter. Pictet Asset Management SA lifted its position in shares of Republic Services by 10.1% in the 1st quarter. Pictet Asset Management SA now owns 8,078,135 shares of the business services provider’s stock worth $1,092,325,000 after purchasing an additional 738,378 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Republic Services by 40.8% in the 1st quarter. JPMorgan Chase & Co. now owns 6,180,535 shares of the business services provider’s stock worth $835,731,000 after purchasing an additional 1,791,149 shares during the period. Geode Capital Management LLC lifted its position in shares of Republic Services by 1.1% in the 1st quarter. Geode Capital Management LLC now owns 4,472,223 shares of the business services provider’s stock worth $603,465,000 after purchasing an additional 46,736 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Republic Services by 2.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,720,836 shares of the business services provider’s stock worth $503,131,000 after purchasing an additional 92,014 shares during the period. 57.23% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Stock Down 0.2 %

Shares of NYSE:RSG traded down $0.36 during midday trading on Tuesday, hitting $148.60. 119,758 shares of the company’s stock were exchanged, compared to its average volume of 1,249,691. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a 50 day moving average price of $148.60 and a 200-day moving average price of $143.28. The company has a market cap of $47.01 billion, a PE ratio of 29.97, a price-to-earnings-growth ratio of 2.92 and a beta of 0.67. Republic Services, Inc. has a 12 month low of $120.58 and a 12 month high of $156.65.

Republic Services (NYSE:RSG) last announced its earnings results on Monday, July 31st. The business services provider reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.09. The company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.73 billion. Republic Services had a return on equity of 16.53% and a net margin of 10.91%. Republic Services’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.32 earnings per share. On average, sell-side analysts anticipate that Republic Services, Inc. will post 5.35 EPS for the current fiscal year.

Republic Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Monday, October 2nd will be issued a $0.535 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $2.14 annualized dividend and a dividend yield of 1.44%. This is an increase from Republic Services’s previous quarterly dividend of $0.50. Republic Services’s dividend payout ratio is currently 39.84%.

Insider Activity

In other news, CFO Brian M. Delghiaccio sold 5,500 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $149.65, for a total value of $823,075.00. Following the completion of the sale, the chief financial officer now owns 5,071 shares in the company, valued at $758,875.15. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Brian M. Delghiaccio sold 5,500 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $149.65, for a total transaction of $823,075.00. Following the completion of the sale, the chief financial officer now directly owns 5,071 shares of the company’s stock, valued at $758,875.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Amanda Hodges sold 2,712 shares of the stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $148.66, for a total transaction of $403,165.92. Following the transaction, the chief marketing officer now owns 4,969 shares of the company’s stock, valued at approximately $738,691.54. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Royal Bank of Canada lifted their price objective on Republic Services from $156.00 to $163.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 1st. BMO Capital Markets lifted their price objective on Republic Services from $158.00 to $160.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 1st. Truist Financial raised their price objective on shares of Republic Services from $146.00 to $155.00 and gave the stock a “hold” rating in a research report on Wednesday, August 2nd. Citigroup raised their price objective on shares of Republic Services from $177.00 to $178.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Finally, Oppenheimer raised their price objective on shares of Republic Services from $158.00 to $159.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 1st. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Republic Services presently has an average rating of “Moderate Buy” and a consensus price target of $159.00.

Republic Services Profile

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States. 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.