Motco Sells 492 Shares of Republic Services, Inc. (NYSE:RSG)

Motco trimmed its stake in shares of Republic Services, Inc. (NYSE:RSG) by 33.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 996 shares of the business services provider’s stock after selling 492 shares during the period. Motco’s holdings in Republic Services were worth $200,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. FSA Wealth Management LLC bought a new position in Republic Services in the 3rd quarter valued at $25,000. Arcadia Investment Management Corp MI lifted its stake in shares of Republic Services by 200.0% during the fourth quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 88 shares during the period. R Squared Ltd acquired a new position in shares of Republic Services during the fourth quarter valued at $32,000. Truvestments Capital LLC acquired a new position in shares of Republic Services during the third quarter valued at $34,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Republic Services during the third quarter valued at $39,000. 57.73% of the stock is owned by institutional investors.

Insider Transactions at Republic Services

In related news, COO Gregg Brummer sold 6,293 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the completion of the transaction, the chief operating officer now owns 10,416 shares in the company, valued at approximately $2,376,931.20. This represents a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Katharine Weymouth sold 1,859 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total transaction of $400,186.93. Following the transaction, the director now owns 879 shares of the company’s stock, valued at $189,222.33. The trade was a 67.90 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RSG. Jefferies Financial Group upped their price target on Republic Services from $235.00 to $244.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Royal Bank of Canada raised Republic Services from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $219.00 to $237.00 in a research note on Monday, January 6th. Truist Financial reaffirmed a “buy” rating and set a $250.00 price target (up previously from $244.00) on shares of Republic Services in a research note on Friday, February 14th. Morgan Stanley increased their target price on Republic Services from $220.00 to $230.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Finally, UBS Group increased their target price on Republic Services from $212.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $234.56.

Republic Services Stock Up 2.0 %

Shares of NYSE:RSG opened at $237.42 on Friday. The company has a 50 day moving average price of $215.73 and a two-hundred day moving average price of $209.68. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. Republic Services, Inc. has a 52 week low of $180.91 and a 52 week high of $237.52. The company has a market capitalization of $74.14 billion, a PE ratio of 36.58, a PEG ratio of 3.64 and a beta of 0.74.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.21. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The company had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the prior year, the firm earned $1.41 earnings per share. Analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s dividend payout ratio is 35.75%.

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.