Republic Services, Inc. (NYSE:RSG) Shares Sold by Corbyn Investment Management Inc. MD

Corbyn Investment Management Inc. MD lessened its position in shares of Republic Services, Inc. (NYSE:RSG) by 3.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 126,608 shares of the business services provider’s stock after selling 3,992 shares during the period. Republic Services makes up approximately 9.8% of Corbyn Investment Management Inc. MD’s portfolio, making the stock its largest position. Corbyn Investment Management Inc. MD’s holdings in Republic Services were worth $20,879,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. FinTrust Capital Advisors LLC lifted its position in shares of Republic Services by 56.3% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 197 shares of the business services provider’s stock valued at $28,000 after buying an additional 71 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Republic Services during the 4th quarter worth about $34,000. Millburn Ridgefield Corp purchased a new position in Republic Services in the 3rd quarter valued at about $36,000. Catalyst Capital Advisors LLC acquired a new stake in Republic Services in the 3rd quarter worth about $36,000. Finally, BKM Wealth Management LLC purchased a new stake in Republic Services during the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Analysts Set New Price Targets

RSG has been the topic of a number of research analyst reports. UBS Group lowered Republic Services from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $175.00 to $195.00 in a research note on Thursday, February 29th. Royal Bank of Canada began coverage on shares of Republic Services in a report on Monday, April 8th. They set a “sector perform” rating and a $198.00 target price for the company. BMO Capital Markets raised their price target on shares of Republic Services from $173.00 to $195.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 28th. Oppenheimer upped their price objective on shares of Republic Services from $182.00 to $195.00 and gave the company an “outperform” rating in a research note on Wednesday, February 28th. Finally, Truist Financial raised their target price on shares of Republic Services from $175.00 to $192.00 and gave the stock a “hold” rating in a research note on Wednesday, February 28th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Republic Services currently has a consensus rating of “Moderate Buy” and an average target price of $199.77.

Insider Activity at Republic Services

In other news, CEO Ark Jon Vander sold 5,446 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the sale, the chief executive officer now owns 85,113 shares of the company’s stock, valued at $15,669,303.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is currently owned by company insiders.

Republic Services Trading Down 0.1 %

Shares of NYSE:RSG traded down $0.26 during midday trading on Friday, reaching $193.30. 834,088 shares of the company’s stock were exchanged, compared to its average volume of 1,199,697. The firm’s 50 day simple moving average is $187.13 and its two-hundred day simple moving average is $170.17. Republic Services, Inc. has a fifty-two week low of $135.33 and a fifty-two week high of $193.82. 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 has a market cap of $60.89 billion, a price-to-earnings ratio of 35.34, a P/E/G ratio of 3.36 and a beta of 0.68.

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, beating 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 for the quarter, compared to the consensus estimate of $3.73 billion. During the same period in the previous year, the firm earned $1.13 EPS. The business’s revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts forecast that Republic Services, Inc. will post 6.01 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Tuesday, April 2nd were issued a $0.535 dividend. The ex-dividend date of this dividend was Monday, April 1st. This represents a $2.14 annualized dividend and a dividend yield of 1.11%. Republic Services’s dividend payout ratio is presently 39.12%.

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.