Republic Services (NYSE:RSG) EVP Brian Bales Sells 3,400 Shares of Company Stock

Key Points

• EVP Brian Bales sold 3,400 Republic Services shares for $829,600 at an average price of $244, reducing his stake by 16.18% to 17,616 shares.
• Republic Services beat quarterly earnings and revenue expectations, reporting EPS of $1.94 and revenue of $4.56 billion; revenue increased 8.2% year over year.
• Shares rose 1.0% to $245.35. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $249.32; the company also announced a $0.67 quarterly dividend.

Republic Services, Inc. (NYSE:RSG - Get Free Report) EVP Brian Bales sold 3,400 shares of the stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $244.00, for a total value of $829,600.00. Following the completion of the sale, the executive vice president owned 17,616 shares of the company's stock, valued at $4,298,304. The trade was a 16.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Republic Services Stock Up 1.0%

Shares of RSG traded up $2.48 during trading hours on Wednesday, reaching $245.35. The company's stock had a trading volume of 1,256,813 shares, compared to its average volume of 1,364,172. The company has a 50 day moving average of $223.85 and a two-hundred day moving average of $217.32. The company has a quick ratio of 0.64, a current ratio of 0.75 and a debt-to-equity ratio of 1.14. The firm has a market cap of $74.74 billion, a price-to-earnings ratio of 33.50, a P/E/G ratio of 4.04 and a beta of 0.32. Republic Services, Inc. has a 1-year low of $196.41 and a 1-year high of $249.37.

Republic Services (NYSE:RSG - Get Free Report) last issued its earnings results on Thursday, October 29th. The business services provider reported $1.94 EPS for the quarter, beating analysts' consensus estimates of $1.93 by $0.01. Republic Services had a return on equity of 18.56% and a net margin of 12.93%. The firm had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.42 billion. During the same quarter in the previous year, the company posted $1.90 earnings per share. The business's quarterly revenue was up 8.2% compared to the same quarter last year. As a group, research analysts predict that Republic Services, Inc. will post 7.26 EPS for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Monday, January 4th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, January 4th. Republic Services's dividend payout ratio is currently 37.07%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Republic Services in the 2nd quarter valued at $3,798,092,000. State Street Corp raised its stake in Republic Services by 1.6% during the 2nd quarter. State Street Corp now owns 9,953,507 shares of the business services provider's stock worth $2,120,893,000 after buying an additional 160,051 shares during the period. Bank of America Corp DE acquired a new stake in Republic Services during the 2nd quarter worth $682,573,000. Pictet Asset Management Holding SA lifted its holdings in Republic Services by 14.0% during the third quarter. Pictet Asset Management Holding SA now owns 2,814,825 shares of the business services provider's stock worth $590,761,000 after acquiring an additional 345,719 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Republic Services by 68.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,256,190 shares of the business services provider's stock worth $497,828,000 after acquiring an additional 913,249 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company's stock.

Wall Street Analyst Weigh In

RSG has been the subject of a number of analyst reports. Royal Bank Of Canada lifted their target price on shares of Republic Services from $272.00 to $277.00 and gave the stock an "outperform" rating in a report on Friday, October 30th. Wells Fargo & Company increased their price target on Republic Services from $234.00 to $270.00 and gave the company an "overweight" rating in a research note on Monday. Oppenheimer reissued an "outperform" rating on shares of Republic Services in a research note on Friday, October 30th. Raymond James Financial set a $235.00 price target on Republic Services in a research report on Friday, October 9th. Finally, UBS Group lifted their price objective on Republic Services from $233.00 to $235.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 11th. Twelve equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, Republic Services currently has an average rating of "Moderate Buy" and an average target price of $249.32.

Republic Services Company Profile

Republic Services, Inc is an environmental services company that provides waste collection, recycling and disposal solutions for residential, commercial, industrial and municipal customers. Its services include curbside collection, dumpster and roll-off container services, transfer station operations, landfill management and recycling processing.

The company also provides specialized environmental services, including hazardous waste management, emergency response, remediation and other sustainability-related solutions for businesses and government organizations.

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