Ridgewood Investments LLC Sells 50 Shares of Republic Services, Inc. (NYSE:RSG)

Ridgewood Investments LLC trimmed its holdings in Republic Services, Inc. (NYSE:RSG) by 9.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 471 shares of the business services provider’s stock after selling 50 shares during the quarter. Ridgewood Investments LLC’s holdings in Republic Services were worth $95,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RSG. Choreo LLC bought a new position in Republic Services in the 2nd quarter worth approximately $1,005,000. Daiwa Securities Group Inc. boosted its stake in Republic Services by 9.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 23,524 shares of the business services provider’s stock worth $4,572,000 after purchasing an additional 2,100 shares during the period. Headlands Technologies LLC bought a new position in shares of Republic Services during the 2nd quarter valued at approximately $209,000. LPL Financial LLC boosted its position in shares of Republic Services by 7.8% during the 2nd quarter. LPL Financial LLC now owns 285,735 shares of the business services provider’s stock valued at $55,530,000 after acquiring an additional 20,605 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its position in shares of Republic Services by 64.0% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 13,506 shares of the business services provider’s stock valued at $2,625,000 after acquiring an additional 5,273 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors.

Republic Services Stock Performance

Shares of Republic Services stock opened at $206.47 on Friday. The firm has a market cap of $64.66 billion, a P/E ratio of 33.04, a P/E/G ratio of 3.30 and a beta of 0.73. 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 12 month low of $163.17 and a 12 month high of $220.58. The stock’s fifty day moving average price is $208.87 and its 200-day moving average price is $203.89.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.61 by $0.20. The firm had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.54 earnings per share. On average, equities research analysts expect that Republic Services, Inc. will post 6.25 earnings per share 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. Shareholders of record on Thursday, January 2nd will be paid 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 1.12%. Republic Services’s dividend payout ratio (DPR) is presently 37.12%.

Analysts Set New Price Targets

A number of research firms have recently commented on RSG. Truist Financial increased their target price on Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Scotiabank began coverage on Republic Services in a research report on Friday, October 4th. They set a “sector perform” rating and a $224.00 target price for the company. Royal Bank of Canada upgraded Republic Services from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $219.00 to $237.00 in a research report on Monday, January 6th. William Blair assumed coverage on Republic Services in a research report on Thursday, October 3rd. They issued an “outperform” rating for the company. Finally, Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and raised their price target for the stock from $219.00 to $237.00 in a research report on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Republic Services currently has an average rating of “Moderate Buy” and an average price target of $221.12.

Insider Buying and Selling at Republic Services

In other Republic Services news, Director Katharine Weymouth sold 1,859 shares of Republic Services stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $215.27, for a total value of $400,186.93. Following the transaction, the director now owns 879 shares in the company, valued at $189,222.33. The trade was a 67.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total value of $1,065,011.42. Following the completion of the transaction, the chief financial officer now owns 6,318 shares in the company, valued at $1,326,906.36. This trade represents a 44.53 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

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.