Republic Services, Inc. (NYSE:RSG) Stake Reduced by Truist Financial Corp

Truist Financial Corp reduced its stake in shares of Republic Services, Inc. (NYSE:RSG) by 21.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 20,740 shares of the business services provider’s stock after selling 5,766 shares during the period. Truist Financial Corp’s holdings in Republic Services were worth $2,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Appleton Partners Inc. MA grew its stake in shares of Republic Services by 2.3% in the third quarter. Appleton Partners Inc. MA now owns 59,564 shares of the business services provider’s stock worth $7,151,000 after purchasing an additional 1,319 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Republic Services by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,936,747 shares of the business services provider’s stock worth $433,068,000 after purchasing an additional 23,126 shares in the last quarter. Dai Ichi Life Insurance Company Ltd grew its stake in shares of Republic Services by 41.3% in the second quarter. Dai Ichi Life Insurance Company Ltd now owns 167,916 shares of the business services provider’s stock worth $18,472,000 after purchasing an additional 49,046 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Republic Services by 825.4% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 260,174 shares of the business services provider’s stock worth $28,622,000 after purchasing an additional 232,058 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its stake in shares of Republic Services by 70.9% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 18,095 shares of the business services provider’s stock worth $1,991,000 after purchasing an additional 7,510 shares in the last quarter. Hedge funds and other institutional investors own 57.74% of the company’s stock.

Shares of RSG opened at $129.86 on Friday. The company’s 50 day moving average price is $135.35 and its 200 day moving average price is $126.55. Republic Services, Inc. has a 52 week low of $88.62 and a 52 week high of $145.98. The company has a market capitalization of $41.18 billion, a PE ratio of 34.17, a PEG ratio of 2.62 and a beta of 0.76. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.67 and a current ratio of 0.67.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, October 28th. The business services provider reported $1.11 EPS for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.06. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.84 billion. Republic Services had a net margin of 11.11% and a return on equity of 15.19%. The firm’s revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.00 earnings per share. On average, equities analysts forecast that Republic Services, Inc. will post 4.14 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, January 14th. Shareholders of record on Monday, January 3rd were given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.42%. The ex-dividend date was Friday, December 31st. Republic Services’s dividend payout ratio is 48.42%.

Several brokerages have recently weighed in on RSG. Raymond James upped their price objective on Republic Services from $137.00 to $140.00 and gave the company an “outperform” rating in a report on Monday, January 10th. Deutsche Bank Aktiengesellschaft upped their price objective on Republic Services from $121.00 to $142.00 and gave the company a “hold” rating in a report on Monday, November 1st. Royal Bank of Canada upped their price objective on Republic Services from $125.00 to $129.00 and gave the company a “sector perform” rating in a report on Friday, October 29th. Morgan Stanley increased their price target on Republic Services from $141.00 to $151.00 and gave the company an “overweight” rating in a research report on Wednesday, January 5th. Finally, Zacks Investment Research downgraded Republic Services from a “buy” rating to a “hold” rating and set a $128.00 price objective on the stock. in a report on Wednesday, September 29th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Republic Services presently has an average rating of “Buy” and an average target price of $126.20.

In other Republic Services news, Director Tomago Collins sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, November 11th. The shares were sold at an average price of $133.59, for a total value of $267,180.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

About Republic Services

Republic Services, Inc engages in the provision of services in the domestic non-hazardous solid waste industry. It provides integrated waste management services, which offers non-hazardous solid waste collection, transfer, recycling, disposal and energy services. The firm operates through the following segments: Group 1, Group 2, and Corporate Entities & Other.

Featured Story: What is the LIBOR?

Want to see what other hedge funds are holding RSG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Republic Services, Inc. (NYSE:RSG).

Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

Receive News & Ratings for Republic Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Republic Services and related companies with MarketBeat.com's FREE daily email newsletter.