Accurate Wealth Management LLC Trims Holdings in Republic Services, Inc. (NYSE:RSG)

Accurate Wealth Management LLC decreased its stake in shares of Republic Services, Inc. (NYSE:RSG) by 7.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 14,530 shares of the business services provider’s stock after selling 1,177 shares during the period. Accurate Wealth Management LLC’s holdings in Republic Services were worth $2,997,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in RSG. Stifel Financial Corp lifted its stake in Republic Services by 437.9% in the 3rd quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock worth $364,449,000 after purchasing an additional 1,477,255 shares in the last quarter. Wellington Management Group LLP raised its position in shares of 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 worth $1,205,883,000 after buying an additional 1,131,850 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Republic Services by 83,671.9% during the third quarter. International Assets Investment Management LLC now owns 538,653 shares of the business services provider’s stock valued at $108,183,000 after buying an additional 538,010 shares during the period. Nordea Investment Management AB grew its position in Republic Services by 19.4% during the fourth quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock worth $626,553,000 after buying an additional 509,116 shares in the last quarter. Finally, National Bank of Canada FI raised its holdings in shares of Republic Services by 544.7% in the 3rd quarter. National Bank of Canada FI now owns 545,613 shares of the business services provider’s stock valued at $109,580,000 after acquiring an additional 460,989 shares in the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Oppenheimer upped their price objective on shares of Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. William Blair assumed coverage on shares of Republic Services in a report on Thursday, October 3rd. They issued an “outperform” rating on the stock. Royal Bank of Canada raised shares of Republic Services from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $219.00 to $237.00 in a report on Monday, January 6th. Truist Financial increased their target price on Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, BMO Capital Markets raised Republic Services from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $211.00 to $238.00 in a research note on Friday, December 6th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Republic Services has a consensus rating of “Moderate Buy” and a consensus price target of $221.12.

Republic Services Trading Down 0.1 %

NYSE:RSG opened at $206.96 on Wednesday. The firm has a market capitalization of $64.81 billion, a P/E ratio of 33.11, a P/E/G ratio of 3.30 and a beta of 0.73. Republic Services, Inc. has a 52 week low of $165.06 and a 52 week high of $220.58. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. The company has a fifty day moving average of $209.10 and a 200 day moving average of $204.20.

Republic Services (NYSE:RSG) last posted its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.20. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The company had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same period in the prior year, the business posted $1.54 earnings per share. Republic Services’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, research analysts predict that Republic Services, Inc. will post 6.25 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a dividend of $0.58 per share. The ex-dividend date of this dividend 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 is presently 37.12%.

Insider Activity at Republic Services

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 6,318 shares in the company, valued at $1,326,906.36. The trade was a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Katharine Weymouth sold 1,859 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total value of $400,186.93. Following the completion of the transaction, the director now owns 879 shares of the company’s stock, valued at approximately $189,222.33. This trade represents a 67.90 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

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.