Republic Services, Inc. (NYSE:RSG) Position Lowered by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 9.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,207,640 shares of the business services provider’s stock after selling 237,840 shares during the quarter. Victory Capital Management Inc. owned approximately 0.70% of Republic Services worth $364,062,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of RSG. FinTrust Capital Advisors LLC raised its stake in Republic Services by 56.3% during the third quarter. FinTrust Capital Advisors LLC now owns 197 shares of the business services provider’s stock worth $28,000 after acquiring an additional 71 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new stake in Republic Services during the fourth quarter worth about $34,000. Millburn Ridgefield Corp acquired a new stake in Republic Services during the third quarter worth about $36,000. Catalyst Capital Advisors LLC acquired a new stake in Republic Services during the third quarter worth about $36,000. Finally, BKM Wealth Management LLC acquired a new stake in Republic Services during the fourth quarter worth about $37,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Buying and Selling

In related news, CEO Ark Jon Vander sold 5,446 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 85,113 shares of the company’s stock, valued at approximately $15,669,303.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.09% of the company’s stock.

Republic Services Price Performance

NYSE:RSG traded down $6.87 during trading hours on Wednesday, reaching $184.83. 1,749,072 shares of the company’s stock were exchanged, compared to its average volume of 1,228,638. The company has a market capitalization of $58.22 billion, a P/E ratio of 33.75, a price-to-earnings-growth ratio of 3.38 and a beta of 0.68. Republic Services, Inc. has a 12 month low of $140.07 and a 12 month high of $196.76. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. The business’s 50-day simple moving average is $187.85 and its two-hundred day simple moving average is $171.47.

Republic Services (NYSE:RSG) last issued its earnings results on Tuesday, April 30th. The business services provider reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.10. The firm had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Republic Services had a net margin of 11.57% and a return on equity of 17.32%. The firm’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. Sell-side analysts expect that Republic Services, Inc. will post 6.01 EPS for the current fiscal year.

Republic Services Dividend Announcement

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 paid a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Tuesday, July 2nd. Republic Services’s dividend payout ratio is 39.12%.

Wall Street Analyst Weigh In

RSG has been the topic of several analyst reports. Citigroup raised their price target on shares of Republic Services from $190.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. BMO Capital Markets raised their price target on shares of Republic Services from $173.00 to $195.00 and gave the company a “market perform” rating in a research note on Wednesday, February 28th. Scotiabank initiated coverage on shares of Republic Services in a research note on Monday, April 8th. They issued a “sector perform” rating and a $211.00 price target on the stock. Truist Financial raised their price target on shares of Republic Services from $175.00 to $192.00 and gave the company a “hold” rating in a research note on Wednesday, February 28th. Finally, Oppenheimer raised their price objective on shares of Republic Services from $202.00 to $204.00 and gave the company an “outperform” rating in a research note on Wednesday. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $200.85.

About Republic Services

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.