City Holding Co. Increases Stock Holdings in Republic Services, Inc. (NYSE:RSG)

City Holding Co. lifted its stake in shares of Republic Services, Inc. (NYSE:RSG) by 7.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,296 shares of the business services provider’s stock after purchasing an additional 1,078 shares during the quarter. City Holding Co.’s holdings in Republic Services were worth $3,072,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. YHB Investment Advisors Inc. acquired a new position in Republic Services during the 1st quarter worth approximately $29,000. EntryPoint Capital LLC acquired a new stake in Republic Services in the first quarter valued at $29,000. Itau Unibanco Holding S.A. acquired a new position in Republic Services during the second quarter worth about $36,000. Indiana Trust & Investment Management CO purchased a new position in shares of Republic Services during the 2nd quarter worth approximately $45,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Republic Services during the second quarter worth $49,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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. Company insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RSG. StockNews.com lowered Republic Services from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Oppenheimer decreased their target price on shares of Republic Services from $211.00 to $210.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. BMO Capital Markets upped their price target on shares of Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Truist Financial upgraded shares of Republic Services from a “hold” rating to a “buy” rating and lifted their price target for the company from $192.00 to $220.00 in a report on Thursday, July 11th. Finally, Raymond James dropped their price objective on Republic Services from $219.00 to $214.00 and set an “outperform” rating for the company in a 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $211.65.

Republic Services Stock Up 1.7 %

Shares of NYSE:RSG opened at $202.06 on Wednesday. The company has a 50 day moving average of $202.68 and a two-hundred day moving average of $195.02. 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 company has a market capitalization of $63.64 billion, a price-to-earnings ratio of 35.45, a price-to-earnings-growth ratio of 3.21 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.08. The firm had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.03 billion. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. As a group, analysts forecast that Republic Services, Inc. will post 6.18 earnings per share for the current fiscal 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 given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.15%. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. The ex-dividend date is Wednesday, October 2nd. Republic Services’s dividend payout ratio is presently 40.70%.

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.