Brown Brothers Harriman & Co. Lowers Stake in Republic Services, Inc. (NYSE:RSG)

Brown Brothers Harriman & Co. trimmed its position in Republic Services, Inc. (NYSE:RSG) by 1.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,233 shares of the business services provider’s stock after selling 93 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Republic Services were worth $1,051,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of RSG. Wolff Wiese Magana LLC raised its holdings in Republic Services by 351.6% in the third quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock valued at $28,000 after buying an additional 109 shares during the period. EntryPoint Capital LLC acquired a new position in shares of Republic Services during the 1st quarter valued at $29,000. Webster Bank N. A. purchased a new stake in Republic Services during the 3rd quarter worth $31,000. Itau Unibanco Holding S.A. purchased a new position in Republic Services in the second quarter valued at about $36,000. Finally, Ashton Thomas Securities LLC purchased a new position in Republic Services in the third quarter valued at about $39,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Republic Services

In other Republic Services news, 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 sale, the chief financial officer now owns 6,318 shares in the company, valued at approximately $1,326,906.36. This trade represents a 44.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is currently owned by company insiders.

Republic Services Stock Up 0.4 %

RSG stock opened at $218.80 on Wednesday. The firm has a market cap of $68.52 billion, a price-to-earnings ratio of 35.01, a PEG ratio of 3.33 and a beta of 0.70. Republic Services, Inc. has a 1-year low of $159.10 and a 1-year high of $219.94. The firm has a fifty day moving average price of $205.15 and a two-hundred day moving average price of $199.43. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64.

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, 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 firm had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same quarter in the prior year, the business earned $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 EPS for the current year.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s dividend payout ratio is presently 37.12%.

Analyst Ratings Changes

Several equities research analysts recently commented on RSG shares. Morgan Stanley raised their target price on Republic Services from $208.00 to $217.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. TD Cowen lifted their price objective on shares of Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a research note on Monday, August 5th. StockNews.com lowered shares of Republic Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Oppenheimer boosted their price objective on shares of Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Truist Financial raised their target price on Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Republic Services has an average rating of “Moderate Buy” and an average 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.