Exchange Traded Concepts LLC Trims Stake in Republic Services, Inc. (NYSE:RSG)

Exchange Traded Concepts LLC trimmed its stake in Republic Services, Inc. (NYSE:RSG) by 59.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,773 shares of the business services provider’s stock after selling 7,077 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Republic Services were worth $959,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Integrated Advisors Network LLC purchased a new position in Republic Services in the 4th quarter valued at about $236,000. Quadrature Capital Ltd acquired a new stake in Republic Services during the fourth quarter worth approximately $1,218,000. Nomura Holdings Inc. purchased a new stake in Republic Services in the 4th quarter worth approximately $678,000. Kapitalo Investimentos Ltda acquired a new position in Republic Services in the 4th quarter valued at $211,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Republic Services by 24.4% during the first quarter. GAMMA Investing LLC now owns 2,085 shares of the business services provider’s stock worth $399,000 after purchasing an additional 409 shares during the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Trading Down 0.5 %

RSG opened at $205.55 on Thursday. The firm’s 50 day moving average is $203.77 and its 200-day moving average is $195.67. Republic Services, Inc. has a 52-week low of $142.65 and a 52-week high of $208.69. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $64.73 billion, a P/E ratio of 36.06, a P/E/G ratio of 3.26 and a beta of 0.69.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.08. The firm had revenue of $4.05 billion for 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%. Analysts expect that Republic Services, Inc. will post 6.18 EPS for the current fiscal year.

Republic Services Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on RSG shares. Truist Financial upgraded Republic Services from a “hold” rating to a “buy” rating and upped their target price for the company from $192.00 to $220.00 in a research note on Thursday, July 11th. StockNews.com lowered shares of Republic Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Raymond James dropped their price target on shares of Republic Services from $219.00 to $214.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Robert W. Baird lifted their price target on shares of Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Finally, Oppenheimer cut their target price on Republic Services from $211.00 to $210.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $211.65.

Insider Buying and Selling at Republic Services

In related news, Director Tomago Collins sold 3,200 shares of Republic Services stock in a transaction on Friday, August 16th. The shares were sold at an average price of $203.01, for a total value of $649,632.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is currently owned by corporate insiders.

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.