Callan Family Office LLC Sells 7,433 Shares of Republic Services, Inc. $RSG

Key Points

• Callan Family Office LLC significantly reduced its holdings in Republic Services, Inc. by 72.3% during the first quarter, now owning 2,845 shares valued at $689,000.
• Republic Services recently announced an increase in its quarterly dividend to $0.625 per share, representing an annualized payout of $2.50 and a yield of 1.1%.
• The company's stock received varying ratings from analysts, with a consensus rating of "Moderate Buy," alongside a price target of $262.17.

Callan Family Office LLC lowered its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 72.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,845 shares of the business services provider's stock after selling 7,433 shares during the period. Callan Family Office LLC's holdings in Republic Services were worth $689,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Versant Capital Management Inc boosted its stake in Republic Services by 0.4% in the 1st quarter. Versant Capital Management Inc now owns 9,973 shares of the business services provider's stock worth $2,415,000 after purchasing an additional 44 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its stake in Republic Services by 0.5% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 8,648 shares of the business services provider's stock worth $1,740,000 after purchasing an additional 46 shares in the last quarter. Elevation Point Wealth Partners LLC boosted its stake in Republic Services by 4.2% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 1,154 shares of the business services provider's stock worth $279,000 after purchasing an additional 46 shares in the last quarter. Hemington Wealth Management boosted its stake in Republic Services by 6.2% in the 1st quarter. Hemington Wealth Management now owns 806 shares of the business services provider's stock worth $195,000 after purchasing an additional 47 shares in the last quarter. Finally, FORA Capital LLC boosted its stake in Republic Services by 0.7% in the 4th quarter. FORA Capital LLC now owns 7,659 shares of the business services provider's stock worth $1,541,000 after purchasing an additional 50 shares in the last quarter. Institutional investors own 57.73% of the company's stock.

Republic Services Trading Down 0.1%

Shares of RSG traded down $0.27 during trading hours on Monday, reaching $232.59. 374,017 shares of the company traded hands, compared to its average volume of 1,296,204. The firm has a market cap of $72.62 billion, a price-to-earnings ratio of 34.41, a PEG ratio of 3.63 and a beta of 0.60. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a 12-month low of $197.60 and a 12-month high of $258.75. The stock's fifty day moving average price is $241.62 and its 200 day moving average price is $240.15.

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 (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.01. The company had revenue of $4.24 billion during the quarter, compared to analysts' expectations of $4.26 billion. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The firm's quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.61 EPS. Sell-side analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be given a $0.625 dividend. This is a positive change 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 annualized dividend and a yield of 1.1%. Republic Services's dividend payout ratio is presently 34.32%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on RSG shares. Morgan Stanley upped their price target on shares of Republic Services from $230.00 to $245.00 and gave the stock an "equal weight" rating in a research note on Friday, April 25th. Oppenheimer upped their price target on shares of Republic Services from $262.00 to $268.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Seaport Res Ptn raised Republic Services to a "strong-buy" rating in a research report on Tuesday, May 6th. JPMorgan Chase & Co. boosted their target price on Republic Services from $229.00 to $275.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $266.00 target price on shares of Republic Services in a research report on Friday, April 25th. Nine analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.