Cutler Investment Counsel LLC Cuts Stock Position in Republic Services, Inc. (NYSE:RSG)

Cutler Investment Counsel LLC decreased its holdings in Republic Services, Inc. (NYSE:RSG) by 2.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,537 shares of the business services provider’s stock after selling 1,866 shares during the period. Republic Services accounts for about 2.2% of Cutler Investment Counsel LLC’s portfolio, making the stock its 13th biggest holding. Cutler Investment Counsel LLC’s holdings in Republic Services were worth $17,179,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RSG. Wolff Wiese Magana LLC increased its holdings in shares of Republic Services by 351.6% in 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 valued at approximately $29,000. Webster Bank N. A. purchased a new stake 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 during the 2nd quarter valued at approximately $36,000. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Republic Services in the third quarter valued at $39,000. Institutional investors own 57.73% of the company’s stock.

Republic Services Stock Down 0.7 %

Shares of NYSE:RSG traded down $1.42 during trading on Friday, reaching $208.04. The stock had a trading volume of 984,389 shares, compared to its average volume of 1,123,681. The firm’s 50-day simple moving average is $203.84 and its 200 day simple moving average is $197.97. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. Republic Services, Inc. has a one year low of $157.46 and a one year high of $216.18. The company has a market capitalization of $65.15 billion, a P/E ratio of 33.28, a PEG ratio of 3.28 and a beta of 0.70.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.20. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The business had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same period in the previous year, the company earned $1.54 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, research analysts expect that Republic Services, Inc. will post 6.24 EPS for the current fiscal year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s dividend payout ratio (DPR) is presently 37.12%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RSG. Scotiabank started coverage on Republic Services in a research note on Friday, October 4th. They set a “sector perform” rating and a $224.00 price objective on the stock. Royal Bank of Canada lifted their price objective on shares of Republic Services from $211.00 to $219.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. TD Cowen increased their target price on shares of Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a research note on Monday, August 5th. Morgan Stanley lifted their price target on shares of Republic Services from $208.00 to $217.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Truist Financial upped their target price on Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Republic Services presently has an average rating of “Moderate Buy” and a consensus price target of $215.71.

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.