Sterling Investment Management LLC Has $1.20 Million Stake in Republic Services, Inc. (NYSE:RSG)

Sterling Investment Management LLC trimmed its stake in shares of Republic Services, Inc. (NYSE:RSG) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,297 shares of the business services provider’s stock after selling 157 shares during the period. Sterling Investment Management LLC’s holdings in Republic Services were worth $1,203,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. D.A. Davidson & CO. acquired a new position in Republic Services in the first quarter valued at approximately $203,000. Synovus Financial Corp increased its stake in Republic Services by 1.9% in the first quarter. Synovus Financial Corp now owns 14,255 shares of the business services provider’s stock valued at $1,890,000 after purchasing an additional 260 shares in the last quarter. Vontobel Holding Ltd. increased its stake in Republic Services by 34.6% in the first quarter. Vontobel Holding Ltd. now owns 3,885 shares of the business services provider’s stock valued at $523,000 after purchasing an additional 998 shares in the last quarter. Blair William & Co. IL increased its stake in Republic Services by 1.6% in the first quarter. Blair William & Co. IL now owns 31,162 shares of the business services provider’s stock valued at $4,129,000 after purchasing an additional 495 shares in the last quarter. Finally, Moors & Cabot Inc. increased its stake in Republic Services by 2.9% in the first quarter. Moors & Cabot Inc. now owns 6,726 shares of the business services provider’s stock valued at $891,000 after purchasing an additional 187 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RSG shares. Truist Financial increased their price objective on shares of Republic Services from $175.00 to $192.00 and gave the stock a “hold” rating in a research report on Wednesday, February 28th. Royal Bank of Canada increased their price objective on shares of Republic Services from $166.00 to $199.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 28th. Wells Fargo & Company increased their price objective on shares of Republic Services from $180.00 to $188.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Stifel Nicolaus raised their target price on shares of Republic Services from $175.00 to $187.00 and gave the company a “buy” rating in a research report on Tuesday, December 19th. Finally, 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 research report on Thursday, February 29th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $193.54.

Insider Activity

In other news, CEO Ark Jon Vander sold 5,446 shares of the business’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 directly owns 85,113 shares in the company, valued at approximately $15,669,303.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.09% of the company’s stock.

Republic Services Stock Performance

Shares of RSG stock opened at $191.54 on Thursday. The company has a market capitalization of $60.26 billion, a price-to-earnings ratio of 35.02, a PEG ratio of 3.32 and a beta of 0.67. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. The company has a 50-day simple moving average of $179.51 and a 200 day simple moving average of $163.81. Republic Services, Inc. has a 52 week low of $130.34 and a 52 week high of $192.57.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Tuesday, February 27th. The business services provider reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.13. The firm had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.73 billion. Republic Services had a net margin of 11.57% and a return on equity of 17.32%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.13 EPS. On average, sell-side analysts predict that Republic Services, Inc. will post 6 earnings per share for the current year.

Republic Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Tuesday, April 2nd will be issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Monday, April 1st. Republic Services’s dividend payout ratio is currently 39.12%.

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.