Corbyn Investment Management Inc. MD Has $22.93 Million Holdings in Republic Services, Inc. (NYSE:RSG)

Key Points

• Corbyn Investment Management Inc. reduced its holdings in Republic Services, Inc. by 8.1%, now owning 94,673 shares worth approximately $22.93 million, making it the firm's largest investment.
• Republic Services reported $1.77 earnings per share for the latest quarter, beating estimates, and achieved a 4.6% year-over-year revenue increase.
• The company announced a quarterly dividend increase to $0.625 per share, representing a yield of 1.1% with a dividend payout ratio of 34.32%.

Corbyn Investment Management Inc. MD lowered its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 8.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 94,673 shares of the business services provider's stock after selling 8,350 shares during the period. Republic Services makes up approximately 8.5% of Corbyn Investment Management Inc. MD's investment portfolio, making the stock its biggest holding. Corbyn Investment Management Inc. MD's holdings in Republic Services were worth $22,926,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC raised its stake in shares of Republic Services by 3,533.3% during the first quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock valued at $26,000 after acquiring an additional 106 shares in the last quarter. Key Financial Inc increased its holdings in Republic Services by 380.8% during the first quarter. Key Financial Inc now owns 125 shares of the business services provider's stock valued at $30,000 after buying an additional 99 shares during the period. TCTC Holdings LLC increased its holdings in Republic Services by 113.8% during the first quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock valued at $30,000 after buying an additional 66 shares during the period. Park Square Financial Group LLC purchased a new position in Republic Services during the fourth quarter valued at approximately $44,000. Finally, Cheviot Value Management LLC purchased a new position in Republic Services during the first quarter valued at approximately $49,000. Institutional investors own 57.73% of the company's stock.

Republic Services Price Performance

Shares of RSG opened at $232.27 on Wednesday. The firm has a market capitalization of $72.52 billion, a PE ratio of 34.36, a price-to-earnings-growth ratio of 3.61 and a beta of 0.60. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66. Republic Services, Inc. has a 1-year low of $195.36 and a 1-year high of $258.75. The company's fifty day moving average price is $244.95 and its 200-day moving average price is $238.85.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, beating analysts' consensus estimates of $1.76 by $0.01. The business had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.26 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%. The company's revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the business posted $1.61 EPS. On average, equities research analysts predict that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, October 2nd. This is an increase from Republic Services's previous quarterly dividend of $0.58. Republic Services's dividend payout ratio is currently 34.32%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Truist Financial lifted their price objective on shares of Republic Services from $250.00 to $270.00 and gave the company a "buy" rating in a report on Tuesday, April 22nd. William Blair reaffirmed an "outperform" rating on shares of Republic Services in a report on Friday, April 25th. Seaport Res Ptn raised shares of Republic Services to a "strong-buy" rating in a report on Tuesday, May 6th. Oppenheimer lifted their price target on shares of Republic Services from $262.00 to $268.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Finally, Morgan Stanley lifted their price target on shares of Republic Services from $230.00 to $245.00 and gave the stock an "equal weight" rating in a report on Friday, April 25th. Nine investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Republic Services currently has a consensus rating of "Moderate Buy" and an average price target of $262.17.

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.

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