Republic Services, Inc. (NYSE:RSG) Shares Sold by Liberty One Investment Management LLC

Liberty One Investment Management LLC reduced its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 6.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,860 shares of the business services provider's stock after selling 7,809 shares during the period. Republic Services accounts for about 3.0% of Liberty One Investment Management LLC's investment portfolio, making the stock its 12th biggest position. Liberty One Investment Management LLC's holdings in Republic Services were worth $29,510,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in RSG. DnB Asset Management AS raised its position in Republic Services by 65.1% during the fourth quarter. DnB Asset Management AS now owns 72,931 shares of the business services provider's stock valued at $14,672,000 after purchasing an additional 28,764 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in Republic Services by 0.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 563,253 shares of the business services provider's stock valued at $136,397,000 after purchasing an additional 4,110 shares during the period. Uniting Wealth Partners LLC purchased a new stake in Republic Services during the fourth quarter valued at approximately $266,000. Sowell Financial Services LLC purchased a new stake in Republic Services during the first quarter valued at approximately $260,000. Finally, Heartland Bank & Trust Co raised its position in Republic Services by 109.4% during the first quarter. Heartland Bank & Trust Co now owns 2,195 shares of the business services provider's stock valued at $532,000 after purchasing an additional 1,147 shares during the period. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Stock Down 1.4%

NYSE RSG traded down $3.35 during midday trading on Tuesday, hitting $239.13. 1,893,460 shares of the company traded hands, compared to its average volume of 1,145,608. 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 company has a market cap of $74.73 billion, a PE ratio of 36.07, a price-to-earnings-growth ratio of 3.69 and a beta of 0.61. The company's 50-day simple moving average is $248.90 and its 200-day simple moving average is $234.00. Republic Services, Inc. has a 52 week low of $188.82 and a 52 week high of $258.75.

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

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 2nd will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $2.32 annualized dividend and a yield of 0.97%. Republic Services's dividend payout ratio (DPR) is presently 34.99%.

Analysts Set New Price Targets

A number of brokerages have issued reports on RSG. Melius Research upgraded Republic Services to a "hold" rating and set a $281.00 price objective on the stock in a research report on Monday, June 9th. Morgan Stanley upped their price objective on Republic Services from $230.00 to $245.00 and gave the company an "equal weight" rating in a research report on Friday, April 25th. UBS Group increased their price target on Republic Services from $240.00 to $250.00 and gave the stock a "neutral" rating in a report on Friday, April 11th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $266.00 price target on shares of Republic Services in a report on Friday, April 25th. Finally, Truist Financial increased their price target on Republic Services from $250.00 to $270.00 and gave the stock a "buy" rating in a report on Tuesday, April 22nd. Ten analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $252.68.

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.