Republic Services, Inc. $RSG Shares Sold by Corient Private Wealth LLC

Key Points

• Corient Private Wealth LLC cut its Republic Services stake by 22.8% in the fourth quarter, selling 66,867 shares and ending with 226,712 shares worth about $48.4 million.
• Republic Services reported better-than-expected first-quarter earnings, posting EPS of $1.70 versus estimates of $1.64, while revenue of $4.11 billion slightly topped forecasts and rose 2.6% year over year.
• The company recently declared a quarterly dividend of $0.625 per share, or $2.50 annualized, which implies a 1.2% yield; analysts currently rate the stock a Moderate Buy with an average price target of $243.26.

Corient Private Wealth LLC trimmed its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 22.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 226,712 shares of the business services provider's stock after selling 66,867 shares during the quarter. Corient Private Wealth LLC owned approximately 0.07% of Republic Services worth $48,367,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of RSG. Wealth Watch Advisors INC purchased a new stake in shares of Republic Services in the 3rd quarter worth about $26,000. Laurel Wealth Advisors LLC purchased a new position in Republic Services during the 4th quarter valued at about $25,000. Ameriflex Group Inc. acquired a new position in Republic Services during the third quarter worth about $29,000. Prosperity Bancshares Inc purchased a new stake in shares of Republic Services in the fourth quarter valued at about $30,000. Finally, Sound Income Strategies LLC acquired a new stake in shares of Republic Services in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 57.73% of the company's stock.

Republic Services Trading Down 0.0%

Shares of Republic Services stock opened at $204.87 on Monday. Republic Services, Inc. has a fifty-two week low of $196.41 and a fifty-two week high of $251.17. The business's fifty day moving average is $207.44 and its two-hundred day moving average is $214.17. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. The firm has a market cap of $63.03 billion, a PE ratio of 29.39, a P/E/G ratio of 3.37 and a beta of 0.41.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings data on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, beating analysts' consensus estimates of $1.64 by $0.06. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter in the previous year, the business earned $1.58 earnings per share. The business's revenue for the quarter was up 2.6% on a year-over-year basis. Analysts anticipate that Republic Services, Inc. will post 7.28 earnings per share for the current year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Thursday, July 2nd will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.2%. Republic Services's dividend payout ratio is currently 36.15%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on RSG shares. Citigroup cut their price objective on Republic Services from $253.00 to $247.00 and set a "buy" rating for the company in a research report on Tuesday, May 12th. Weiss Ratings cut Republic Services from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, April 29th. Wells Fargo & Company boosted their price target on Republic Services from $238.00 to $252.00 and gave the stock an "overweight" rating in a report on Wednesday, March 18th. Royal Bank Of Canada upped their price objective on Republic Services from $265.00 to $267.00 and gave the company an "outperform" rating in a research report on Friday, May 8th. Finally, Robert W. Baird dropped their price objective on Republic Services from $242.00 to $240.00 and set a "neutral" rating for the company in a research report on Thursday, April 16th. Eleven investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, Republic Services has an average rating of "Moderate Buy" and a consensus price target of $243.26.

Insider Transactions at Republic Services

In related news, Director Sandra M. Volpe sold 1,800 shares of the company's stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $211.28, for a total transaction of $380,304.00. Following the completion of the transaction, the director owned 58 shares of the company's stock, valued at approximately $12,254.24. This represents a 96.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Cascade Investment, L.L.C. purchased 366,000 shares of the business's stock in a transaction on Wednesday, May 13th. The shares were bought at an average cost of $202.24 per share, for a total transaction of $74,019,840.00. Following the purchase, the insider owned 110,315,982 shares of the company's stock, valued at $22,310,304,199.68. This trade represents a 0.33% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have bought 987,150 shares of company stock valued at $202,366,682. Corporate insiders own 0.12% of the company's stock.

Republic Services Company Profile

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic's core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.

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