Simmons Bank Lowers Stake in Republic Services, Inc. (NYSE:RSG)

Simmons Bank lessened its position in Republic Services, Inc. (NYSE:RSG) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,844 shares of the business services provider’s stock after selling 51 shares during the quarter. Simmons Bank’s holdings in Republic Services were worth $371,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of RSG. McGlone Suttner Wealth Management Inc. raised its stake in shares of Republic Services by 2.2% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 2,213 shares of the business services provider’s stock valued at $445,000 after acquiring an additional 48 shares in the last quarter. Access Financial Services Inc. grew its holdings in Republic Services by 0.8% during the 4th quarter. Access Financial Services Inc. now owns 6,178 shares of the business services provider’s stock worth $1,243,000 after acquiring an additional 51 shares in the last quarter. Hantz Financial Services Inc. lifted its position in shares of Republic Services by 1.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 5,099 shares of the business services provider’s stock worth $1,024,000 after purchasing an additional 52 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in Republic Services by 16.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 382 shares of the business services provider’s stock worth $77,000 after buying an additional 54 shares during the last quarter. Finally, Fidelis Capital Partners LLC increased its holdings in shares of Republic Services by 3.8% in the 3rd quarter. Fidelis Capital Partners LLC now owns 1,520 shares of the business services provider’s stock valued at $310,000 after acquiring an additional 55 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Activity at Republic Services

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total value of $1,436,062.60. Following the transaction, the chief operating officer now directly owns 10,416 shares of the company’s stock, valued at $2,376,931.20. This represents a 37.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Katharine Weymouth sold 1,859 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly 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. Company insiders own 0.09% of the company’s stock.

Republic Services Trading Up 0.5 %

RSG stock opened at $232.64 on Friday. Republic Services, Inc. has a 52 week low of $180.91 and a 52 week high of $234.02. The company has a market cap of $72.65 billion, a price-to-earnings ratio of 35.85, a PEG ratio of 3.64 and a beta of 0.74. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. The business has a fifty day simple moving average of $215.06 and a 200-day simple moving average of $209.41.

Republic Services (NYSE:RSG) last issued its earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.21. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The business had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the previous year, the business earned $1.41 EPS. On average, equities research analysts expect that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s dividend payout ratio is presently 35.75%.

Analysts Set New Price Targets

A number of research firms have recently commented on RSG. Royal Bank of Canada upgraded Republic Services from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $219.00 to $237.00 in a research report on Monday, January 6th. Stifel Nicolaus increased their price target on shares of Republic Services from $240.00 to $257.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Truist Financial reiterated a “buy” rating and set a $250.00 target price (up previously from $244.00) on shares of Republic Services in a report on Friday, February 14th. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and upped their price objective for the company from $219.00 to $237.00 in a research report on Tuesday, December 10th. Finally, The Goldman Sachs Group lifted their price objective on Republic Services from $239.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Republic Services has a consensus rating of “Moderate Buy” and an average price target of $233.41.

Republic Services 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.