Eastover Investment Advisors LLC Cuts Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Eastover Investment Advisors LLC lessened its stake in Republic Services, Inc. (NYSE:RSG) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,062 shares of the business services provider’s stock after selling 700 shares during the period. Republic Services comprises about 3.1% of Eastover Investment Advisors LLC’s holdings, making the stock its 17th largest holding. Eastover Investment Advisors LLC’s holdings in Republic Services were worth $6,651,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP lifted its position in Republic Services by 23.2% in the third quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider’s stock valued at $1,205,883,000 after purchasing an additional 1,131,850 shares during the last quarter. Geode Capital Management LLC raised its holdings in Republic Services by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,507,521 shares of the business services provider’s stock valued at $903,316,000 after buying an additional 73,207 shares during the last quarter. Nordea Investment Management AB boosted its position in Republic Services by 19.4% during the 4th quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock valued at $626,553,000 after buying an additional 509,116 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Republic Services by 2.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,520,738 shares of the business services provider’s stock valued at $506,265,000 after acquiring an additional 57,040 shares during the period. Finally, Stifel Financial Corp raised its stake in shares of Republic Services by 437.9% during the third quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock valued at $364,449,000 after acquiring an additional 1,477,255 shares during the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. CIBC boosted their price target on Republic Services from $217.00 to $227.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Oppenheimer upped their target price on Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. BMO Capital Markets upgraded shares of Republic Services from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $211.00 to $238.00 in a report on Friday, December 6th. Scotiabank initiated coverage on shares of Republic Services in a research report on Friday, October 4th. They issued a “sector perform” rating and a $224.00 target price for the company. Finally, William Blair assumed coverage on shares of Republic Services in a research report on Thursday, October 3rd. They set an “outperform” rating on the stock. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Republic Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $221.12.

Insiders Place Their Bets

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Katharine Weymouth sold 1,859 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $215.27, for a total value of $400,186.93. Following the transaction, the director now directly owns 879 shares of the company’s stock, valued at approximately $189,222.33. The trade was a 67.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

Republic Services Price Performance

RSG opened at $206.47 on Monday. The company’s 50-day simple moving average is $208.87 and its two-hundred day simple moving average is $204.02. Republic Services, Inc. has a 52-week low of $163.17 and a 52-week high of $220.58. The stock has a market capitalization 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 debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64.

Republic Services (NYSE:RSG) last issued its 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. The company had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the company posted $1.54 earnings per share. As a group, analysts predict that Republic Services, Inc. will post 6.25 EPS for the current year.

Republic Services Dividend Announcement

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

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.