Perpetual Ltd Sells 7,244 Shares of Republic Services, Inc. (NYSE:RSG)

Perpetual Ltd lowered its stake in Republic Services, Inc. (NYSE:RSG) by 10.6% during the 3rd quarter, Holdings Channel reports. The firm owned 61,188 shares of the business services provider’s stock after selling 7,244 shares during the quarter. Perpetual Ltd’s holdings in Republic Services were worth $12,289,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Wedmont Private Capital lifted its stake in Republic Services by 6.5% in the third quarter. Wedmont Private Capital now owns 2,332 shares of the business services provider’s stock worth $463,000 after purchasing an additional 143 shares during the last quarter. CWM LLC increased its position in shares of Republic Services by 19.3% during the third quarter. CWM LLC now owns 10,894 shares of the business services provider’s stock worth $2,188,000 after acquiring an additional 1,763 shares during the period. Brookstone Capital Management increased its position in shares of Republic Services by 14.0% during the third quarter. Brookstone Capital Management now owns 15,535 shares of the business services provider’s stock worth $3,120,000 after acquiring an additional 1,913 shares during the period. City Holding Co. increased its holdings in Republic Services by 7.6% during the third quarter. City Holding Co. now owns 15,296 shares of the business services provider’s stock valued at $3,072,000 after buying an additional 1,078 shares during the period. Finally, Country Trust Bank increased its holdings in Republic Services by 1,944.4% during the third quarter. Country Trust Bank now owns 736 shares of the business services provider’s stock valued at $148,000 after buying an additional 700 shares during the period. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insider Buying and Selling at Republic Services

In other Republic Services news, Director Tomago Collins sold 3,200 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was 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 approximately $3,549,832.86. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Oppenheimer lowered their price objective on shares of Republic Services from $211.00 to $210.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Truist Financial raised shares of Republic Services from a “hold” rating to a “buy” rating and boosted their target price for the stock from $192.00 to $220.00 in a research note on Thursday, July 11th. William Blair began coverage on shares of Republic Services in a research note on Thursday, October 3rd. They set an “outperform” rating for the company. Scotiabank assumed coverage on shares of Republic Services in a research note on Friday, October 4th. They set a “sector perform” rating and a $224.00 price objective for the company. Finally, CIBC boosted their target price on shares of Republic Services from $196.00 to $208.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $211.65.

Republic Services Stock Up 1.4 %

RSG stock opened at $204.86 on Thursday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.59 and a quick ratio of 0.59. Republic Services, Inc. has a 1-year low of $142.65 and a 1-year high of $208.69. The firm has a fifty day moving average price of $203.08 and a two-hundred day moving average price of $195.17. The firm has a market cap of $64.34 billion, a price-to-earnings ratio of 35.94, a PEG ratio of 3.22 and a beta of 0.69.

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

Republic Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 1.13%. This is an increase from Republic Services’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Wednesday, October 2nd. Republic Services’s dividend payout ratio is presently 40.70%.

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.