Republic Services, Inc. (NYSE:RSG) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC lessened its stake in Republic Services, Inc. (NYSE:RSG) by 15.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,597 shares of the business services provider’s stock after selling 653 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Republic Services were worth $722,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. EntryPoint Capital LLC acquired a new position in shares of Republic Services in the 1st quarter valued at about $29,000. Itau Unibanco Holding S.A. acquired a new position in shares of Republic Services in the 2nd quarter valued at about $36,000. Indiana Trust & Investment Management CO acquired a new position in shares of Republic Services in the 2nd quarter valued at about $45,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Republic Services in the 2nd quarter valued at about $49,000. Finally, J.Safra Asset Management Corp lifted its holdings in shares of Republic Services by 584.2% in the 1st quarter. J.Safra Asset Management Corp now owns 260 shares of the business services provider’s stock valued at $50,000 after buying an additional 222 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Price Performance

RSG stock opened at $204.44 on Monday. The firm has a market capitalization of $64.21 billion, a PE ratio of 34.24, a price-to-earnings-growth ratio of 3.26 and a beta of 0.69. Republic Services, Inc. has a 1 year low of $142.65 and a 1 year high of $208.69. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.59 and a quick ratio of 0.59. The business has a 50 day simple moving average of $203.28 and a 200-day simple moving average of $195.40.

Republic Services (NYSE:RSG) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $4.03 billion. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. Equities research analysts anticipate that Republic Services, Inc. will post 6.18 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 1.13%. This is a positive change 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 38.86%.

Insiders Place Their Bets

In other Republic Services news, Director Tomago Collins sold 3,200 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $203.01, for a total transaction of $649,632.00. Following the transaction, the director now directly owns 17,486 shares in the company, valued at $3,549,832.86. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is owned by insiders.

Analysts Set New Price Targets

RSG has been the subject of a number of analyst reports. Truist Financial raised Republic Services from a “hold” rating to a “buy” rating and upped their price target for the stock from $192.00 to $220.00 in a report on Thursday, July 11th. Raymond James reduced their price target on Republic Services from $219.00 to $214.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Stifel Nicolaus upped their price target on Republic Services from $215.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. BMO Capital Markets upped their price target on Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Finally, CIBC boosted their price objective on Republic Services from $196.00 to $208.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $211.65.

About Republic Services

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.