Wedge Capital Management L L P NC Lowers Position in Republic Services, Inc. (NYSE:RSG)

Wedge Capital Management L L P NC reduced its stake in Republic Services, Inc. (NYSE:RSGFree Report) by 1.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,026 shares of the business services provider’s stock after selling 593 shares during the period. Wedge Capital Management L L P NC’s holdings in Republic Services were worth $9,461,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. FSA Wealth Management LLC acquired a new position in shares of Republic Services in the 3rd quarter worth approximately $25,000. Wolff Wiese Magana LLC grew its stake in shares of Republic Services by 351.6% in the third quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock valued at $28,000 after buying an additional 109 shares in the last quarter. Webster Bank N. A. purchased a new stake in shares of Republic Services in the 3rd quarter valued at $31,000. Truvestments Capital LLC acquired a new position in Republic Services during the 3rd quarter worth about $34,000. Finally, Itau Unibanco Holding S.A. purchased a new position in Republic Services during the 2nd quarter valued at about $36,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Stock Performance

NYSE RSG opened at $213.85 on Friday. The company has a fifty day moving average of $209.27 and a two-hundred day moving average of $204.44. The company has a market capitalization of $66.97 billion, a PE ratio of 34.22, a P/E/G ratio of 2.98 and a beta of 0.73. Republic Services, Inc. has a 1 year low of $165.99 and a 1 year high of $220.58. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64.

Republic Services (NYSE:RSGGet Free Report) last announced its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The firm had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same period in the prior year, the firm earned $1.54 EPS. The business’s revenue was up 6.5% on a year-over-year basis. As a group, analysts expect that Republic Services, Inc. will post 6.25 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date was Thursday, January 2nd. Republic Services’s dividend payout ratio is currently 37.12%.

Wall Street Analyst Weigh In

RSG has been the topic of several research reports. Royal Bank of Canada raised shares of Republic Services from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $219.00 to $237.00 in a research report on Monday, January 6th. BMO Capital Markets raised shares of Republic Services from a “market perform” rating to an “outperform” rating and raised their price target for the company from $211.00 to $238.00 in a research report on Friday, December 6th. William Blair started coverage on Republic Services in a research report on Thursday, October 3rd. They set an “outperform” rating on the stock. Morgan Stanley boosted their target price on Republic Services from $217.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Finally, Truist Financial increased their price target on Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Republic Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.12.

Check Out Our Latest Analysis on Republic Services

Insiders Place Their Bets

In other Republic Services news, Director Katharine Weymouth sold 1,859 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $215.27, for a total transaction of $400,186.93. Following the completion of the transaction, the director now owns 879 shares in the company, valued at approximately $189,222.33. This represents a 67.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the completion of the sale, the chief financial officer now directly owns 6,318 shares in the company, valued at approximately $1,326,906.36. The trade was a 44.53 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

Republic Services Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding RSG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Republic Services, Inc. (NYSE:RSGFree Report).

Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

Receive News & Ratings for Republic Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Republic Services and related companies with MarketBeat.com's FREE daily email newsletter.