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

Key Points

• Cutler Investment Counsel LLC sold 2.8% of its shares in Republic Services, now holding 81,668 shares valued at approximately $19.8 million.
• Republic Services has announced a quarterly dividend of $0.625, representing an annualized yield of 1.08%, which is an increase from the previous dividend of $0.58.
• As of midweek trading, Republic Services experienced a share price decline to $231.97, with a market capitalization of $72.49 billion and reported earnings of $1.77 EPS for the last quarter.

Cutler Investment Counsel LLC decreased its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 2.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 81,668 shares of the business services provider's stock after selling 2,321 shares during the period. Republic Services comprises 2.4% of Cutler Investment Counsel LLC's investment portfolio, making the stock its 13th biggest position. Cutler Investment Counsel LLC's holdings in Republic Services were worth $19,777,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RSG. Banque Cantonale Vaudoise purchased a new position in Republic Services during the first quarter valued at $1,067,000. Algebris UK Ltd lifted its holdings in Republic Services by 43.4% during the first quarter. Algebris UK Ltd now owns 11,170 shares of the business services provider's stock valued at $2,504,000 after purchasing an additional 3,378 shares in the last quarter. Federated Hermes Inc. lifted its holdings in Republic Services by 2.2% during the first quarter. Federated Hermes Inc. now owns 14,250 shares of the business services provider's stock valued at $3,451,000 after purchasing an additional 307 shares in the last quarter. TCTC Holdings LLC lifted 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 purchasing an additional 66 shares in the last quarter. Finally, Kirtland Hills Capital Management LLC lifted its holdings in Republic Services by 2.9% during the first quarter. Kirtland Hills Capital Management LLC now owns 8,287 shares of the business services provider's stock valued at $2,016,000 after purchasing an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 57.73% of the company's stock.

Republic Services Price Performance

RSG traded down $14.04 during midday trading on Wednesday, reaching $231.97. 3,176,920 shares of the company's stock were exchanged, compared to its average volume of 1,300,905. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market capitalization of $72.49 billion, a PE ratio of 34.32, a P/E/G ratio of 3.74 and a beta of 0.61. The business's 50-day moving average price is $246.66 and its 200 day moving average price is $238.06. Republic Services, Inc. has a 1-year low of $192.64 and a 1-year high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.01. Republic Services had a net margin of 12.97% and a return on equity of 18.52%. The company had revenue of $4.24 billion for the quarter, compared to analysts' expectations of $4.26 billion. During the same period last year, the company earned $1.61 EPS. The firm's revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, equities analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be given a $0.625 dividend. The ex-dividend date is Thursday, October 2nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.08%. This is an increase from Republic Services's previous quarterly dividend of $0.58. Republic Services's payout ratio is currently 34.99%.

Analyst Ratings Changes

Several research firms have issued reports on RSG. Melius Research raised shares of Republic Services to a "hold" rating and set a $281.00 price objective on the stock in a report on Monday, June 9th. Wall Street Zen lowered shares of Republic Services from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Oppenheimer upped their target price 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. Melius began coverage on shares of Republic Services in a report on Monday, June 9th. They set a "hold" rating for the company. Finally, William Blair reiterated an "outperform" rating on shares of Republic Services in a report on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Republic Services has an average rating of "Moderate Buy" and a consensus price target of $258.89.

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.