Concurrent Investment Advisors LLC Sells 296 Shares of Republic Services, Inc. (NYSE:RSG)

Concurrent Investment Advisors LLC trimmed its holdings in Republic Services, Inc. (NYSE:RSG) by 2.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,873 shares of the business services provider’s stock after selling 296 shares during the period. Concurrent Investment Advisors LLC’s holdings in Republic Services were worth $2,585,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Wolff Wiese Magana LLC raised its holdings in Republic Services by 351.6% in the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 109 shares in the last quarter. EntryPoint Capital LLC acquired a new position in Republic Services in the first quarter valued at about $29,000. Webster Bank N. A. acquired a new stake in Republic Services during the third quarter worth about $31,000. Itau Unibanco Holding S.A. bought a new position in Republic Services in the 2nd quarter valued at about $36,000. Finally, Indiana Trust & Investment Management CO acquired a new position in shares of Republic Services in the 2nd quarter valued at approximately $45,000. 57.73% of the stock is currently owned by institutional investors.

Insider Transactions at Republic Services

In other news, Director Tomago Collins sold 3,200 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $203.01, for a total transaction of $649,632.00. Following the completion of the sale, the director now owns 17,486 shares in the company, valued at $3,549,832.86. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

RSG has been the subject of several recent analyst reports. Truist Financial upped their target price on Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. TD Cowen raised their price objective on Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a research note on Monday, August 5th. Robert W. Baird boosted their target price on Republic Services from $208.00 to $210.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Morgan Stanley raised their price target on shares of Republic Services from $208.00 to $217.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Stifel Nicolaus upped their price objective 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. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $215.71.

Republic Services Stock Up 0.5 %

Republic Services stock opened at $208.08 on Friday. The firm has a market cap of $65.16 billion, a price-to-earnings ratio of 33.29, a PEG ratio of 3.07 and a beta of 0.70. Republic Services, Inc. has a 52-week low of $154.49 and a 52-week high of $209.09. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a 50 day moving average price of $203.21 and a two-hundred day moving average price of $197.10.

Republic Services (NYSE:RSG) last released its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.20. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The business had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same quarter in the previous year, the business earned $1.54 earnings per share. Republic Services’s revenue for the quarter was up 6.5% on a year-over-year basis. Equities analysts predict that Republic Services, Inc. will post 6.24 EPS for the current year.

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s payout ratio is 37.12%.

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.