Sigma Planning Corp Reduces Stake in Republic Services, Inc. (NYSE:RSG)

Sigma Planning Corp lowered its position in Republic Services, Inc. (NYSE:RSG) by 43.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,171 shares of the business services provider’s stock after selling 5,604 shares during the period. Sigma Planning Corp’s holdings in Republic Services were worth $1,183,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in RSG. Magellan Asset Management Ltd raised its position in shares of Republic Services by 1,497,159.0% in the 3rd quarter. Magellan Asset Management Ltd now owns 913,328 shares of the business services provider’s stock worth $130,158,000 after acquiring an additional 913,267 shares in the last quarter. FMR LLC increased its position in Republic Services by 34.4% during the 3rd quarter. FMR LLC now owns 2,202,405 shares of the business services provider’s stock valued at $313,865,000 after buying an additional 563,761 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new position in Republic Services during the 4th quarter valued at approximately $77,417,000. Envestnet Asset Management Inc. increased its position in Republic Services by 50.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 900,653 shares of the business services provider’s stock valued at $128,352,000 after buying an additional 303,754 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its position in Republic Services by 1,383.0% during the 3rd quarter. Panagora Asset Management Inc. now owns 241,098 shares of the business services provider’s stock valued at $34,359,000 after buying an additional 224,841 shares in the last quarter. Institutional investors own 57.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on RSG shares. BMO Capital Markets raised their price objective on Republic Services from $173.00 to $195.00 and gave the company a “market perform” rating in a research report on Wednesday, February 28th. Jefferies Financial Group raised their price objective on Republic Services from $213.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Royal Bank of Canada started coverage on Republic Services in a research report on Monday, April 8th. They set a “sector perform” rating and a $198.00 price objective for the company. The Goldman Sachs Group raised their price objective on Republic Services from $209.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Truist Financial lifted their target price on Republic Services from $175.00 to $192.00 and gave the stock a “hold” rating in a report on Wednesday, February 28th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $199.77.

Republic Services Stock Performance

RSG stock opened at $191.76 on Tuesday. The company has a market cap of $60.40 billion, a P/E ratio of 35.06, a price-to-earnings-growth ratio of 3.32 and a beta of 0.68. Republic Services, Inc. has a 1 year low of $135.33 and a 1 year high of $192.75. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. The stock’s fifty day moving average price is $186.29 and its 200-day moving average price is $169.53.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Tuesday, February 27th. The business services provider reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.13. The firm had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.73 billion. Republic Services had a return on equity of 17.32% and a net margin of 11.57%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the business posted $1.13 EPS. On average, equities analysts forecast that Republic Services, Inc. will post 6.01 earnings per share for the current year.

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Tuesday, April 2nd were paid a $0.535 dividend. The ex-dividend date was Monday, April 1st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.12%. Republic Services’s dividend payout ratio (DPR) is currently 39.12%.

Insider Transactions at Republic Services

In related news, CEO Ark Jon Vander sold 5,446 shares of Republic Services stock in a transaction on Monday, March 4th. The stock was sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the transaction, the chief executive officer now directly owns 85,113 shares in the company, valued at $15,669,303.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.09% of the company’s stock.

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.