Tandem Investment Advisors Inc. Reduces Holdings in Republic Services, Inc. (NYSE:RSG)

Tandem Investment Advisors Inc. lowered its position in shares of Republic Services, Inc. (NYSE:RSG) by 20.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 218,448 shares of the business services provider’s stock after selling 55,699 shares during the period. Tandem Investment Advisors Inc. owned about 0.07% of Republic Services worth $43,873,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Wolff Wiese Magana LLC raised its stake in shares of Republic Services by 351.6% during the third 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 during the last quarter. EntryPoint Capital LLC purchased a new position in Republic Services during the 1st quarter worth $29,000. Webster Bank N. A. acquired a new stake in shares of Republic Services in the 3rd quarter worth $31,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Republic Services in the second quarter valued at about $36,000. Finally, Indiana Trust & Investment Management CO purchased a new position in Republic Services during the second quarter worth about $45,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Activity

In related news, Director Tomago Collins sold 3,200 shares of Republic Services stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $203.01, for a total value of $649,632.00. Following the sale, the director now directly owns 17,486 shares in the company, valued at $3,549,832.86. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on RSG shares. Truist Financial lifted their price objective on Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Raymond James cut their price objective on Republic Services from $219.00 to $214.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Robert W. Baird boosted their target price on shares of Republic Services from $208.00 to $210.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Morgan Stanley increased their target price on shares of Republic Services from $208.00 to $217.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. 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 research report on Monday, August 5th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $215.71.

Republic Services Stock Performance

NYSE:RSG opened at $208.08 on Friday. Republic Services, Inc. has a fifty-two week low of $154.49 and a fifty-two week high of $209.09. The firm’s 50 day moving average is $203.21 and its two-hundred day moving average is $197.10. The company has a market cap of $65.16 billion, a P/E ratio of 33.29, a P/E/G ratio of 3.07 and a beta of 0.70. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07.

Republic Services (NYSE:RSG) last issued 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 $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter last year, the firm earned $1.54 earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. Analysts expect that Republic Services, Inc. will post 6.24 EPS for the current year.

Republic Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Thursday, January 2nd. Republic Services’s dividend payout ratio is presently 37.12%.

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.