Intech Investment Management LLC Lowers Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Intech Investment Management LLC trimmed its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 10.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 66,623 shares of the business services provider’s stock after selling 7,465 shares during the period. Intech Investment Management LLC’s holdings in Republic Services were worth $12,948,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in RSG. YHB Investment Advisors Inc. bought a new stake in shares of Republic Services during the first quarter valued at approximately $29,000. EntryPoint Capital LLC bought a new stake in shares of Republic Services during the first quarter valued at approximately $29,000. Jones Financial Companies Lllp increased its position in shares of Republic Services by 3,014.3% during the fourth quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 211 shares in the last quarter. Indiana Trust & Investment Management CO bought a new stake in shares of Republic Services during the second quarter valued at approximately $45,000. Finally, Johnson Financial Group Inc. bought a new stake in Republic Services in the 4th quarter worth approximately $50,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RSG has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their target price on shares of Republic Services from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Raymond James cut their target price 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. CIBC lifted their target price on shares of Republic Services from $196.00 to $208.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Truist Financial raised shares of Republic Services from a “hold” rating to a “buy” rating and lifted their target price for the stock from $192.00 to $220.00 in a research report on Thursday, July 11th. Finally, TD Cowen boosted their price objective on shares of Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $211.00.

Insider Buying and Selling

In related news, Director Tomago Collins sold 3,200 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $203.01, for a total value of $649,632.00. Following the sale, the director now directly owns 17,486 shares of the company’s stock, valued at approximately $3,549,832.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Republic Services Stock Performance

Republic Services stock opened at $201.39 on Friday. The company’s 50-day moving average price is $202.28 and its 200-day moving average price is $193.72. Republic Services, Inc. has a twelve month low of $140.23 and a twelve month 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 cap of $63.42 billion, a PE ratio of 35.33, a price-to-earnings-growth ratio of 3.30 and a beta of 0.70.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.08. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. The company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.03 billion. On average, equities research analysts forecast that Republic Services, Inc. will post 6.18 EPS for the current fiscal year.

Republic Services Increases Dividend

The company 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 is a positive change from Republic Services’s previous quarterly dividend of $0.54. This represents a $2.32 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Wednesday, October 2nd. Republic Services’s dividend payout ratio is 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.