Republic Services, Inc. (NYSE:RSG) Stake Cut by Camden National Bank

Camden National Bank decreased its stake in shares of Republic Services, Inc. (NYSE:RSG) by 3.8% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 71,579 shares of the business services provider’s stock after selling 2,845 shares during the period. Republic Services accounts for 2.1% of Camden National Bank’s investment portfolio, making the stock its 9th largest position. Camden National Bank’s holdings in Republic Services were worth $14,376,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Lifeworks Advisors LLC raised its holdings in shares of Republic Services by 1,112.3% in the 3rd quarter. Lifeworks Advisors LLC now owns 21,469 shares of the business services provider’s stock valued at $4,312,000 after acquiring an additional 19,698 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Republic Services by 15.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 5,663 shares of the business services provider’s stock valued at $1,137,000 after acquiring an additional 746 shares in the last quarter. PGGM Investments raised its holdings in shares of Republic Services by 264.3% during the 2nd quarter. PGGM Investments now owns 8,842 shares of the business services provider’s stock valued at $1,718,000 after buying an additional 6,415 shares in the last quarter. YCG LLC raised its holdings in shares of Republic Services by 2.2% during the 3rd quarter. YCG LLC now owns 208,232 shares of the business services provider’s stock valued at $41,821,000 after buying an additional 4,428 shares in the last quarter. Finally, AXA S.A. raised its holdings in shares of Republic Services by 1.8% during the 2nd quarter. AXA S.A. now owns 640,563 shares of the business services provider’s stock valued at $124,487,000 after buying an additional 11,408 shares in the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insider Activity

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the sale, the chief financial officer now owns 6,318 shares in the company, valued at $1,326,906.36. This represents a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Republic Services Price Performance

RSG opened at $216.79 on Friday. Republic Services, Inc. has a 12-month low of $159.10 and a 12-month high of $216.86. The company has a market cap of $67.89 billion, a price-to-earnings ratio of 34.69, a price-to-earnings-growth ratio of 3.27 and a beta of 0.70. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. The stock has a fifty day simple moving average of $204.56 and a two-hundred day simple moving average of $198.86.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, topping 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 firm posted $1.54 earnings per share. Republic Services’s quarterly revenue was up 6.5% on a year-over-year basis. Research analysts predict that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s payout ratio is 37.12%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RSG. Truist Financial raised their price objective on Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. StockNews.com lowered Republic Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. William Blair initiated coverage on Republic Services in a research report on Thursday, October 3rd. They set an “outperform” rating on the stock. Royal Bank of Canada raised their price target on Republic Services from $211.00 to $219.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer raised their price target on Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $215.71.

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.