CIBC Asset Management Inc Reduces Stock Holdings in Republic Services, Inc. (NYSE:RSG)

CIBC Asset Management Inc trimmed its position in Republic Services, Inc. (NYSE:RSG) by 33.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 178,077 shares of the business services provider’s stock after selling 89,372 shares during the period. CIBC Asset Management Inc’s holdings in Republic Services were worth $35,767,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. FSA Wealth Management LLC purchased a new position in Republic Services in the third quarter worth approximately $25,000. R Squared Ltd acquired a new stake in shares of Republic Services during the 4th quarter worth about $32,000. Truvestments Capital LLC purchased a new stake in Republic Services in the 3rd quarter valued at about $34,000. Ashton Thomas Securities LLC acquired a new position in Republic Services in the third quarter valued at about $39,000. Finally, Kieckhefer Group LLC acquired a new stake in shares of Republic Services during the fourth quarter valued at about $50,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Wall Street Analysts Forecast Growth

RSG has been the topic of several recent analyst reports. CIBC upped their price objective on shares of Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Oppenheimer raised their price target on Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Morgan Stanley boosted their price objective on Republic Services from $220.00 to $230.00 and gave the company an “equal weight” rating in a report on Friday. Truist Financial reaffirmed a “buy” rating and issued a $250.00 target price (up from $244.00) on shares of Republic Services in a research report on Friday. Finally, Jefferies Financial Group raised their price objective on shares of Republic Services from $235.00 to $244.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $225.38.

Republic Services Trading Up 2.9 %

NYSE RSG opened at $230.98 on Monday. The firm’s fifty day moving average is $210.94 and its two-hundred day moving average is $207.52. Republic Services, Inc. has a one year low of $177.03 and a one year high of $232.52. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market cap of $72.33 billion, a PE ratio of 36.96, a P/E/G ratio of 3.24 and a beta of 0.74.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.37 by $0.21. The firm had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. During the same period in the prior year, the business earned $1.41 EPS. Analysts expect that Republic Services, Inc. will post 6.25 earnings per share for the current year.

Republic Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be given a dividend of $0.58 per share. The ex-dividend date is Wednesday, April 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 1.00%. Republic Services’s payout ratio is currently 37.12%.

Insider Activity

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 6,318 shares of the company’s stock, valued at $1,326,906.36. This represents a 44.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Katharine Weymouth sold 1,859 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $215.27, for a total value of $400,186.93. Following the completion of the sale, the director now directly 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. 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.