Republic Services, Inc. (NYSE:RSG) Shares Sold by Searle & CO.

Searle & CO. cut its stake in shares of Republic Services, Inc. (NYSE:RSG) by 4.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,000 shares of the business services provider’s stock after selling 94 shares during the quarter. Searle & CO.’s holdings in Republic Services were worth $402,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. State Board of Administration of Florida Retirement System lifted its holdings in shares of Republic Services by 8.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 239,031 shares of the business services provider’s stock worth $45,760,000 after purchasing an additional 19,414 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Republic Services by 32.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,296 shares of the business services provider’s stock worth $18,052,000 after purchasing an additional 23,306 shares during the period. PGGM Investments lifted its holdings in shares of Republic Services by 264.3% during the second quarter. PGGM Investments now owns 8,842 shares of the business services provider’s stock worth $1,718,000 after purchasing an additional 6,415 shares during the period. Forsta AP Fonden lifted its holdings in shares of Republic Services by 11.7% during the first quarter. Forsta AP Fonden now owns 45,000 shares of the business services provider’s stock worth $8,615,000 after purchasing an additional 4,700 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Republic Services by 0.6% during the first quarter. Vanguard Group Inc. now owns 18,254,878 shares of the business services provider’s stock worth $3,494,714,000 after purchasing an additional 101,518 shares during the period. 57.73% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Tomago Collins sold 3,200 shares of Republic Services stock in a transaction on Friday, August 16th. The stock was sold at an average price of $203.01, for a total value of $649,632.00. Following the completion of the sale, the director now owns 17,486 shares of the company’s stock, valued at $3,549,832.86. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on RSG. TD Cowen increased their price target on Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a report on Monday, August 5th. StockNews.com downgraded shares of Republic Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Royal Bank of Canada upped their target price on shares of Republic Services from $201.00 to $211.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. Scotiabank initiated coverage on shares of Republic Services in a report on Friday, October 4th. They issued a “sector perform” rating and a $224.00 target price for the company. Finally, Truist Financial upgraded Republic Services from a “hold” rating to a “buy” rating and upped their price target for the stock from $192.00 to $220.00 in a report on Thursday, July 11th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $212.18.

Republic Services Price Performance

NYSE:RSG traded down $0.40 during trading hours on Wednesday, reaching $203.52. 118,819 shares of the company traded hands, compared to its average volume of 1,131,942. The stock has a market cap of $64.09 billion, a P/E ratio of 35.78, a P/E/G ratio of 3.29 and a beta of 0.69. Republic Services, Inc. has a 1-year low of $142.65 and a 1-year high of $208.69. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.59 and a quick ratio of 0.59. The firm’s 50-day moving average is $204.08 and its 200-day moving average is $196.17.

Republic Services (NYSE:RSG) last announced its earnings results on Wednesday, July 24th. The business services provider reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.08. The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.03 billion. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. Equities research analysts expect that Republic Services, Inc. will post 6.18 earnings per share for the current fiscal year.

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.