Financial Advisory Partners LLC Sells 631 Shares of Republic Services, Inc. (NYSE:RSG)

Financial Advisory Partners LLC lowered its stake in shares of Republic Services, Inc. (NYSE:RSG) by 2.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,593 shares of the business services provider’s stock after selling 631 shares during the period. Republic Services accounts for approximately 1.6% of Financial Advisory Partners LLC’s portfolio, making the stock its 16th largest holding. Financial Advisory Partners LLC’s holdings in Republic Services were worth $4,738,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the stock. UMB Bank n.a. grew its position in shares of Republic Services by 9.8% during the 3rd quarter. UMB Bank n.a. now owns 1,646 shares of the business services provider’s stock valued at $331,000 after purchasing an additional 147 shares in the last quarter. Wedmont Private Capital increased its stake in Republic Services by 6.5% in the 3rd quarter. Wedmont Private Capital now owns 2,332 shares of the business services provider’s stock worth $463,000 after acquiring an additional 143 shares during the last quarter. CWM LLC raised its holdings in shares of Republic Services by 19.3% in the 3rd quarter. CWM LLC now owns 10,894 shares of the business services provider’s stock valued at $2,188,000 after acquiring an additional 1,763 shares in the last quarter. Brookstone Capital Management grew its holdings 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 purchasing an additional 1,913 shares in the last quarter. Finally, City Holding Co. raised its stake in Republic Services by 7.6% in the third quarter. City Holding Co. now owns 15,296 shares of the business services provider’s stock valued at $3,072,000 after purchasing an additional 1,078 shares in the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RSG has been the subject of several research reports. StockNews.com lowered shares of Republic Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Scotiabank began coverage on shares of Republic Services in a research note on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price target for the company. Raymond James reduced their price target on Republic Services from $219.00 to $214.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Truist Financial upgraded Republic Services from a “hold” rating to a “buy” rating and boosted their price objective for the company from $192.00 to $220.00 in a research report on Thursday, July 11th. Finally, BMO Capital Markets lifted their target price 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. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $211.65.

Republic Services Stock Down 0.7 %

Shares of RSG traded down $1.39 during mid-day trading on Thursday, reaching $203.45. The company had a trading volume of 91,492 shares, compared to its average volume of 1,152,347. Republic Services, Inc. has a 52 week low of $142.65 and a 52 week high of $208.69. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market capitalization of $63.90 billion, a price-to-earnings ratio of 35.94, a price-to-earnings-growth ratio of 3.22 and a beta of 0.69. The firm has a 50-day moving average price of $203.08 and a 200 day moving average price of $195.17.

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

Republic Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 1.14%. 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 (DPR) is currently 40.70%.

Insiders Place Their Bets

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 value of $649,632.00. Following the completion of the transaction, the director now owns 17,486 shares of the company’s stock, valued at approximately $3,549,832.86. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

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.