Republic Services, Inc. (NYSE:RSG) Shares Sold by Summit Global Investments

Summit Global Investments lessened its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 10.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 14,262 shares of the business services provider's stock after selling 1,622 shares during the period. Summit Global Investments' holdings in Republic Services were worth $3,454,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in RSG. Arcadia Investment Management Corp MI increased its holdings in Republic Services by 200.0% in the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider's stock valued at $27,000 after purchasing an additional 88 shares during the last quarter. R Squared Ltd acquired a new stake in Republic Services in the 4th quarter valued at approximately $32,000. New Age Alpha Advisors LLC increased its holdings in Republic Services by 70.2% in the 4th quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider's stock valued at $36,000 after purchasing an additional 73 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in Republic Services in the 4th quarter valued at approximately $44,000. Finally, Generali Asset Management SPA SGR acquired a new position in shares of Republic Services in the fourth quarter worth $45,000. Institutional investors and hedge funds own 57.73% of the company's stock.

Republic Services Stock Performance

Shares of NYSE:RSG traded up $3.17 on Friday, reaching $257.61. The company's stock had a trading volume of 2,680,727 shares, compared to its average volume of 1,133,342. The stock's 50-day moving average is $244.87 and its two-hundred day moving average is $227.35. Republic Services, Inc. has a 52-week low of $183.81 and a 52-week high of $257.93. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64. The stock has a market capitalization of $80.50 billion, a P/E ratio of 39.69, a PEG ratio of 3.64 and a beta of 0.66.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.53 by $0.05. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The business had revenue of $4.01 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period in the previous year, the business posted $1.45 earnings per share. The business's revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Wednesday, July 2nd will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.90%. Republic Services's dividend payout ratio (DPR) is 34.99%.

Wall Street Analyst Weigh In

RSG has been the subject of several research reports. The Goldman Sachs Group boosted their price target on shares of Republic Services from $239.00 to $265.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. National Bank Financial upgraded shares of Republic Services to a "hold" rating in a research note on Monday, May 26th. Truist Financial boosted their price target on shares of Republic Services from $250.00 to $270.00 and gave the stock a "buy" rating in a research note on Tuesday, April 22nd. William Blair reaffirmed an "outperform" rating on shares of Republic Services in a research report on Friday, April 25th. Finally, CIBC raised shares of Republic Services from a "neutral" rating to a "sector outperform" rating and set a $264.00 price objective for the company in a research report on Tuesday, March 4th. Eight 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 data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $250.44.

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.