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

Cutler Investment Counsel LLC lessened its position in Republic Services, Inc. (NYSE:RSG) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 83,989 shares of the business services provider’s stock after selling 1,548 shares during the quarter. Republic Services makes up 2.1% of Cutler Investment Counsel LLC’s investment portfolio, making the stock its 14th largest holding. Cutler Investment Counsel LLC’s holdings in Republic Services were worth $16,897,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in Republic Services by 23.2% during the third quarter. Wellington Management Group LLP now owns 6,004,199 shares of the business services provider’s stock worth $1,205,883,000 after purchasing an additional 1,131,850 shares during the period. Geode Capital Management LLC lifted its holdings in Republic Services by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,507,521 shares of the business services provider’s stock worth $903,316,000 after buying an additional 73,207 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Republic Services by 19.4% in the fourth quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock valued at $626,553,000 after acquiring an additional 509,116 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Republic Services by 1.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,546,088 shares of the business services provider’s stock worth $509,462,000 after purchasing an additional 25,350 shares in the last quarter. Finally, Stifel Financial Corp increased its holdings in Republic Services by 437.9% during the 3rd quarter. Stifel Financial Corp now owns 1,814,613 shares of the business services provider’s stock worth $364,449,000 after purchasing an additional 1,477,255 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RSG shares. Deutsche Bank Aktiengesellschaft upgraded shares of Republic Services from a “hold” rating to a “buy” rating and upped their target price for the stock from $219.00 to $237.00 in a research note on Tuesday, December 10th. Jefferies Financial Group lifted their price objective on shares of Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Royal Bank of Canada raised Republic Services from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $219.00 to $237.00 in a report on Monday, January 6th. Oppenheimer lifted their price target on 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 reissued a “buy” rating and set a $250.00 target price (up previously from $244.00) on shares of Republic Services in a research report on Friday. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Republic Services currently has a consensus rating of “Moderate Buy” and an average target price of $225.38.

Republic Services Price Performance

Republic Services stock opened at $230.98 on Monday. The business has a 50 day simple moving average of $210.94 and a 200-day simple moving average of $207.43. Republic Services, Inc. has a 12 month low of $177.03 and a 12 month high of $232.52. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market capitalization of $72.33 billion, a PE ratio of 36.96, a price-to-earnings-growth ratio of 3.24 and a beta of 0.74.

Republic Services (NYSE:RSG) last issued its earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.21. The business had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. During the same quarter in the previous year, the firm earned $1.41 earnings per share. Equities analysts predict that Republic Services, Inc. will post 6.25 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be issued a $0.58 dividend. The ex-dividend date is Wednesday, April 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.00%. Republic Services’s dividend payout ratio is currently 37.12%.

Insider Activity at Republic Services

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total value of $1,065,011.42. Following the completion of the transaction, the chief financial officer now directly owns 6,318 shares of the company’s stock, valued at $1,326,906.36. This trade represents a 44.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Katharine Weymouth sold 1,859 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total value of $400,186.93. Following the sale, the director now owns 879 shares in the company, valued at approximately $189,222.33. The trade was a 67.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

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.