Fulton Bank N.A. Sells 298 Shares of Republic Services, Inc. (NYSE:RSG)

Fulton Bank N.A. lowered its position in Republic Services, Inc. (NYSE:RSG) by 8.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,376 shares of the business services provider’s stock after selling 298 shares during the quarter. Fulton Bank N.A.’s holdings in Republic Services were worth $679,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP grew its position in shares of Republic Services by 23.2% during the 3rd quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider’s stock worth $1,205,883,000 after buying an additional 1,131,850 shares in the last quarter. Geode Capital Management LLC increased its position in Republic Services by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,507,521 shares of the business services provider’s stock valued at $903,316,000 after purchasing an additional 73,207 shares during the period. Nordea Investment Management AB raised its holdings in shares of Republic Services by 19.4% in the 4th quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock valued at $626,553,000 after purchasing an additional 509,116 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Republic Services by 2.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,520,738 shares of the business services provider’s stock valued at $506,265,000 after purchasing an additional 57,040 shares in the last quarter. Finally, Stifel Financial Corp increased its holdings in Republic Services by 437.9% during the third quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock valued at $364,449,000 after buying an additional 1,477,255 shares during the period. 57.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RSG. Deutsche Bank Aktiengesellschaft raised Republic Services from a “hold” rating to a “buy” rating and increased their target price for the company from $219.00 to $237.00 in a research report on Tuesday, December 10th. Scotiabank assumed coverage on Republic Services in a research note on Friday, October 4th. They issued a “sector perform” rating and a $224.00 target price on the stock. Royal Bank of Canada upgraded shares of Republic Services from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $219.00 to $237.00 in a report on Monday. Truist Financial boosted their price objective on shares of Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, CIBC lifted their price target on shares of Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Republic Services presently has a consensus rating of “Moderate Buy” and an average price target of $221.12.

Republic Services Stock Up 2.0 %

NYSE:RSG opened at $207.05 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64. The company’s fifty day moving average price is $208.71 and its 200-day moving average price is $203.81. Republic Services, Inc. has a 1-year low of $162.86 and a 1-year high of $220.58. The firm has a market capitalization of $64.84 billion, a P/E ratio of 33.13, a PEG ratio of 3.30 and a beta of 0.73.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The business had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same quarter last year, the business posted $1.54 EPS. The company’s revenue was up 6.5% on a year-over-year basis. As a group, equities research analysts anticipate that Republic Services, Inc. will post 6.25 EPS for the current year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be paid a dividend of $0.58 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.12%. Republic Services’s payout ratio is 37.12%.

Insider Activity

In related news, Director Katharine Weymouth sold 1,859 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $215.27, for a total value of $400,186.93. Following the completion of the transaction, the director now owns 879 shares of the company’s stock, valued at approximately $189,222.33. This represents a 67.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total value of $1,065,011.42. Following the completion of the sale, the chief financial officer now directly owns 6,318 shares in the company, valued at approximately $1,326,906.36. The trade was a 44.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

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.