Republic Services, Inc. (NYSE:RSG) Stock Holdings Lowered by Wallace Capital Management Inc.

Wallace Capital Management Inc. cut its holdings in Republic Services, Inc. (NYSE:RSG) by 0.4% during the 2nd quarter, Holdings Channel reports. The fund owned 98,151 shares of the business services provider’s stock after selling 354 shares during the period. Republic Services comprises 2.4% of Wallace Capital Management Inc.’s portfolio, making the stock its 8th biggest holding. Wallace Capital Management Inc.’s holdings in Republic Services were worth $19,075,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC raised its position in shares of Republic Services by 1.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 9,277 shares of the business services provider’s stock valued at $1,530,000 after purchasing an additional 148 shares during the period. Qtron Investments LLC purchased a new position in shares of Republic Services in the 4th quarter worth $215,000. Scotia Capital Inc. grew its stake in shares of Republic Services by 2.4% in the 4th quarter. Scotia Capital Inc. now owns 2,708 shares of the business services provider’s stock worth $447,000 after buying an additional 64 shares in the last quarter. Steward Partners Investment Solutions LLC purchased a new position in shares of Republic Services in the 4th quarter worth $482,000. Finally, Jones Financial Companies Lllp grew its stake in shares of Republic Services by 3,014.3% in the 4th quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider’s stock worth $36,000 after buying an additional 211 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors.

Republic Services Stock Down 0.7 %

NYSE:RSG opened at $199.38 on Monday. The company has a market cap of $62.79 billion, a PE ratio of 34.98, a P/E/G ratio of 3.26 and a beta of 0.70. Republic Services, Inc. has a twelve month low of $140.23 and a twelve month high of $208.69. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.05. The company’s 50 day moving average is $202.12 and its two-hundred day moving average is $194.47.

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

Republic Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be paid a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.16%. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s dividend payout ratio is presently 40.70%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Robert W. Baird lifted their price objective on shares of Republic Services from $208.00 to $210.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Royal Bank of Canada lifted their price target on shares of Republic Services from $201.00 to $211.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. Truist Financial raised shares of Republic Services from a “hold” rating to a “buy” rating and lifted their price target for the stock from $192.00 to $220.00 in a research note on Thursday, July 11th. BMO Capital Markets lifted their price target on shares of Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Finally, Oppenheimer decreased their price objective on shares of Republic Services from $211.00 to $210.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $211.00.

Insider Activity at Republic Services

In related news, Director Tomago Collins sold 3,200 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $203.01, for a total transaction of $649,632.00. Following the sale, the director now owns 17,486 shares in the company, valued at $3,549,832.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.09% of the stock is 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.