Bank of America Corp DE Sells 78,479 Shares of Republic Services, Inc. (NYSE:RSG)

Bank of America Corp DE lessened its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 4.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,889,242 shares of the business services provider's stock after selling 78,479 shares during the period. Bank of America Corp DE owned 0.60% of Republic Services worth $380,078,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of RSG. Arcadia Investment Management Corp MI increased its position in Republic Services by 200.0% during the fourth quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider's stock worth $27,000 after buying an additional 88 shares in the last quarter. R Squared Ltd purchased a new stake in Republic Services during the 4th quarter worth about $32,000. New Age Alpha Advisors LLC lifted its holdings in Republic Services by 70.2% in the 4th quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider's stock valued at $36,000 after purchasing an additional 73 shares in the last quarter. Generali Asset Management SPA SGR acquired a new stake in shares of Republic Services during the 4th quarter worth about $45,000. Finally, Bank of Jackson Hole Trust purchased a new stake in Republic Services in the 4th quarter worth approximately $48,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Republic Services

In other news, COO Gregg Brummer sold 6,293 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the transaction, the chief operating officer now owns 10,416 shares of the company's stock, valued at approximately $2,376,931.20. This represents a 37.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.11% of the company's stock.

Republic Services Stock Down 0.3 %

Shares of NYSE:RSG traded down $0.77 during trading on Friday, reaching $248.56. 794,226 shares of the company traded hands, compared to its average volume of 1,096,805. Republic Services, Inc. has a 1-year low of $180.92 and a 1-year high of $253.54. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. The firm has a market cap of $77.67 billion, a P/E ratio of 38.30, a price-to-earnings-growth ratio of 3.64 and a beta of 0.66. The firm has a fifty day simple moving average of $240.12 and a 200 day simple moving average of $222.55.

Republic Services (NYSE:RSG - Get Free Report) last issued its earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.05. The company had revenue of $4.01 billion for the quarter, compared to analyst estimates of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The business's revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.45 EPS. Analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Wednesday, July 2nd will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Wednesday, July 2nd. Republic Services's dividend payout ratio is presently 34.99%.

Analyst Ratings Changes

Several analysts have commented on the company. Seaport Res Ptn upgraded Republic Services to a "strong-buy" rating in a report on Tuesday. Raymond James reissued an "outperform" rating on shares of Republic Services in a research note on Wednesday, April 16th. Morgan Stanley increased their target price on Republic Services from $230.00 to $245.00 and gave the stock an "equal weight" rating in a research report on Friday, April 25th. Truist Financial boosted their target price on Republic Services from $250.00 to $270.00 and gave the stock a "buy" rating in a report on Tuesday, April 22nd. Finally, Argus set a $260.00 price objective on Republic Services in a research note on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $249.00.

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.