Republic Services, Inc. (NYSE:RSG) Shares Sold by Carnegie Investment Counsel

Carnegie Investment Counsel reduced its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 22.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 59,419 shares of the business services provider's stock after selling 17,464 shares during the period. Carnegie Investment Counsel's holdings in Republic Services were worth $13,727,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Brighton Jones LLC boosted its position in Republic Services by 75.8% in the 4th quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider's stock valued at $3,988,000 after buying an additional 8,547 shares during the period. LPL Financial LLC boosted its holdings in shares of Republic Services by 12.8% in the fourth quarter. LPL Financial LLC now owns 358,348 shares of the business services provider's stock valued at $72,092,000 after purchasing an additional 40,634 shares during the period. Corebridge Financial Inc. grew its stake in Republic Services by 8.2% in the fourth quarter. Corebridge Financial Inc. now owns 64,961 shares of the business services provider's stock worth $13,069,000 after purchasing an additional 4,941 shares in the last quarter. TIAA Trust National Association lifted its holdings in shares of Republic Services by 5.6% in the 4th quarter. TIAA Trust National Association now owns 3,288 shares of the business services provider's stock worth $661,000 after buying an additional 175 shares during the period. Finally, PKS Advisory Services LLC bought a new position in shares of Republic Services during the 4th quarter worth $221,000. Hedge funds and other institutional investors own 57.73% of the company's stock.

Republic Services Stock Performance

RSG stock traded down $0.10 during trading on Friday, hitting $245.01. 935,930 shares of the company traded hands, compared to its average volume of 1,341,575. Republic Services, Inc. has a 1 year low of $188.82 and a 1 year high of $258.75. The company has a market cap of $76.57 billion, a PE ratio of 36.95, a P/E/G ratio of 3.72 and a beta of 0.61. The stock's 50-day simple moving average is $247.41 and its 200 day simple moving average is $237.09. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.66 and a quick ratio of 0.66.

Republic Services (NYSE:RSG - Get Free Report) last posted its earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.05. Republic Services had a net margin of 12.88% and a return on equity of 18.28%. The firm had revenue of $4.01 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same period in the previous year, the firm earned $1.45 EPS. The business's quarterly revenue was up 3.8% on a year-over-year basis. On average, equities analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be issued a $0.625 dividend. This is a boost from Republic Services's previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $2.50 dividend on an annualized basis and a yield of 1.02%. Republic Services's payout ratio is presently 34.99%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Scotiabank upped their price objective on shares of Republic Services from $250.00 to $260.00 and gave the stock a "sector perform" rating in a research note on Friday, July 18th. Royal Bank Of Canada restated an "outperform" rating and set a $266.00 target price on shares of Republic Services in a report on Friday, April 25th. Morgan Stanley lifted their price target on Republic Services from $230.00 to $245.00 and gave the company an "equal weight" rating in a report on Friday, April 25th. Melius Research raised Republic Services to a "hold" rating and set a $281.00 price target for the company in a research report on Monday, June 9th. Finally, Oppenheimer lifted their target price on Republic Services from $262.00 to $268.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Ten research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $258.16.

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.