Wedge Capital Management L L P NC Sells 18,034 Shares of Republic Services, Inc. (NYSE:RSG)

Wedge Capital Management L L P NC trimmed its position in Republic Services, Inc. (NYSE:RSG) by 15.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 101,123 shares of the business services provider’s stock after selling 18,034 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Republic Services were worth $16,676,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RSG. CWM LLC lifted its holdings in Republic Services by 1.3% in the third quarter. CWM LLC now owns 7,865 shares of the business services provider’s stock valued at $1,121,000 after acquiring an additional 98 shares during the period. Capital Investment Advisors LLC lifted its stake in shares of Republic Services by 65.1% in the 3rd quarter. Capital Investment Advisors LLC now owns 2,679 shares of the business services provider’s stock valued at $382,000 after purchasing an additional 1,056 shares during the last quarter. DAVENPORT & Co LLC lifted its stake in Republic Services by 4.3% during the 3rd quarter. DAVENPORT & Co LLC now owns 361,615 shares of the business services provider’s stock worth $51,708,000 after acquiring an additional 15,056 shares in the last quarter. Park Place Capital Corp lifted its stake in Republic Services by 309.6% during the 3rd quarter. Park Place Capital Corp now owns 5,443 shares of the business services provider’s stock worth $776,000 after acquiring an additional 4,114 shares in the last quarter. Finally, Bellecapital International Ltd. purchased a new position in shares of Republic Services in the 3rd quarter valued at about $215,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Stock Up 0.1 %

RSG traded up $0.21 during midday trading on Tuesday, reaching $191.97. The company’s stock had a trading volume of 105,195 shares, compared to its average volume of 1,187,562. The firm has a market capitalization of $60.47 billion, a price-to-earnings ratio of 35.06, a PEG ratio of 3.32 and a beta of 0.68. The stock’s 50-day moving average is $186.29 and its 200-day moving average is $169.53. Republic Services, Inc. has a 1 year low of $135.33 and a 1 year high of $192.99. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13.

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

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Tuesday, April 2nd were paid a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Monday, April 1st. Republic Services’s dividend payout ratio (DPR) is presently 39.12%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Jefferies Financial Group boosted their price target on Republic Services from $213.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, March 18th. BMO Capital Markets lifted their target price on shares of Republic Services from $173.00 to $195.00 and gave the company a “market perform” rating in a research note on Wednesday, February 28th. Scotiabank assumed coverage on shares of Republic Services in a report on Monday, April 8th. They issued a “sector perform” rating and a $211.00 price target for the company. Truist Financial upped their target price on shares of Republic Services from $175.00 to $192.00 and gave the company a “hold” rating in a report on Wednesday, February 28th. Finally, The Goldman Sachs Group raised their target price on shares of Republic Services from $209.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $199.77.

Insider Transactions at Republic Services

In related news, CEO Ark Jon Vander sold 5,446 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $184.10, for a total value of $1,002,608.60. Following the sale, the chief executive officer now directly owns 85,113 shares in the company, valued at approximately $15,669,303.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate 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.