US Bancorp DE Reduces Stock Position in Republic Services, Inc. (NYSE:RSG)

US Bancorp DE trimmed its position in shares of Republic Services, Inc. (NYSE:RSG) by 3.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 163,797 shares of the business services provider’s stock after selling 5,730 shares during the period. US Bancorp DE’s holdings in Republic Services were worth $32,897,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Wolff Wiese Magana LLC raised its holdings in Republic Services by 351.6% in the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock worth $28,000 after purchasing an additional 109 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in Republic Services in the first quarter worth about $29,000. Webster Bank N. A. purchased a new position in shares of Republic Services during the 3rd quarter worth approximately $31,000. Itau Unibanco Holding S.A. bought a new position in shares of Republic Services in the 2nd quarter worth approximately $36,000. Finally, Indiana Trust & Investment Management CO bought a new stake in shares of Republic Services during the second quarter valued at approximately $45,000. 57.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Scotiabank started coverage on Republic Services in a research report on Friday, October 4th. They set a “sector perform” rating and a $224.00 price objective for the company. Royal Bank of Canada lifted their price target on shares of Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a research report on Wednesday. StockNews.com downgraded shares of Republic Services from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Truist Financial upped their price target on Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, TD Cowen boosted their target price on Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $215.71.

Insider Activity

In related news, Director Tomago Collins sold 3,200 shares of Republic Services stock in a transaction on Friday, August 16th. The stock was sold at an average price of $203.01, for a total transaction of $649,632.00. Following the transaction, the director now directly owns 17,486 shares in the company, valued at approximately $3,549,832.86. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.

Republic Services Price Performance

Shares of RSG opened at $198.58 on Friday. The firm has a market cap of $62.37 billion, a PE ratio of 31.77, a P/E/G ratio of 3.17 and a beta of 0.69. Republic Services, Inc. has a 1-year low of $148.36 and a 1-year high of $208.69. The company has a current ratio of 0.64, a quick ratio of 0.59 and a debt-to-equity ratio of 1.07. The firm has a fifty day simple moving average of $203.43 and a two-hundred day simple moving average of $196.74.

Republic Services (NYSE:RSG) last posted its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.19. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The company had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the prior year, the company earned $1.54 earnings per share. Republic Services’s revenue was up 6.5% on a year-over-year basis. On average, equities analysts anticipate that Republic Services, Inc. will post 6.23 EPS for the current year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be given a $0.58 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 annualized dividend and a yield of 1.17%. Republic Services’s payout ratio is presently 37.12%.

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.