Republic Services, Inc. (NYSE:RSG) Stock Holdings Lowered by Cornerstone Advisors LLC

Cornerstone Advisors LLC lowered its position in shares of Republic Services, Inc. (NYSE:RSG) by 10.2% in the 2nd quarter, Holdings Channel reports. The fund owned 8,800 shares of the business services provider’s stock after selling 1,000 shares during the period. Cornerstone Advisors LLC’s holdings in Republic Services were worth $1,710,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Citizens Financial Group Inc. RI bought a new position in shares of Republic Services during the second quarter worth about $1,681,000. Rathbones Group PLC grew its position in shares of Republic Services by 8.3% during the second quarter. Rathbones Group PLC now owns 84,716 shares of the business services provider’s stock worth $16,464,000 after acquiring an additional 6,526 shares during the last quarter. Thoroughbred Financial Services LLC bought a new position in shares of Republic Services during the second quarter worth about $277,000. Parallel Advisors LLC grew its position in Republic Services by 3.4% in the 2nd quarter. Parallel Advisors LLC now owns 3,648 shares of the business services provider’s stock valued at $709,000 after buying an additional 120 shares in the last quarter. Finally, Dai ichi Life Insurance Company Ltd grew its position in Republic Services by 1.8% in the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 107,046 shares of the business services provider’s stock valued at $20,803,000 after buying an additional 1,944 shares in the last quarter. Institutional investors own 57.73% of the company’s stock.

Republic Services Price Performance

RSG stock opened at $205.41 on Tuesday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.05. Republic Services, Inc. has a one year low of $140.23 and a one year high of $208.69. The firm has a market capitalization of $64.51 billion, a PE ratio of 36.04, a P/E/G ratio of 3.29 and a beta of 0.70. The firm has a 50-day moving average of $202.04 and a two-hundred day moving average of $193.39.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.08. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. The company had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.03 billion. On average, analysts forecast that Republic Services, Inc. will post 6.18 earnings per share for the current year.

Republic Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.13%. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. The ex-dividend date is Wednesday, October 2nd. Republic Services’s dividend payout ratio is 37.54%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RSG. TD Cowen increased their target price on shares of Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Truist Financial upgraded shares of Republic Services from a “hold” rating to a “buy” rating and increased their target price for the company from $192.00 to $220.00 in a research report on Thursday, July 11th. Oppenheimer decreased their target price on shares of Republic Services from $211.00 to $210.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. CIBC increased their target price on shares of Republic Services from $196.00 to $208.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada increased their target price on shares of Republic Services from $201.00 to $211.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Republic Services presently has a consensus rating of “Hold” and an average price target of $211.00.

Insider Transactions at Republic Services

In other news, Director Tomago Collins sold 3,200 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were 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 directly owns 17,486 shares of the company’s stock, valued at $3,549,832.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is owned by insiders.

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.