Executive Wealth Management LLC Sells 7,906 Shares of Republic Services, Inc. (NYSE:RSG)

Executive Wealth Management LLC trimmed its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 12.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 55,293 shares of the business services provider's stock after selling 7,906 shares during the period. Executive Wealth Management LLC's holdings in Republic Services were worth $9,118,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RSG. Norges Bank bought a new stake in shares of Republic Services during the fourth quarter worth approximately $258,032,000. JPMorgan Chase & Co. raised its stake in shares of Republic Services by 40.8% during the first quarter. JPMorgan Chase & Co. now owns 6,180,535 shares of the business services provider's stock worth $835,731,000 after buying an additional 1,791,149 shares during the last quarter. Magellan Asset Management Ltd raised its stake in shares of Republic Services by 1,497,159.0% during the third quarter. Magellan Asset Management Ltd now owns 913,328 shares of the business services provider's stock worth $130,158,000 after buying an additional 913,267 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Republic Services by 59.3% during the second quarter. Goldman Sachs Group Inc. now owns 2,317,702 shares of the business services provider's stock worth $355,002,000 after buying an additional 862,917 shares during the last quarter. Finally, FMR LLC raised its stake in shares of Republic Services by 34.4% during the third quarter. FMR LLC now owns 2,202,405 shares of the business services provider's stock worth $313,865,000 after buying an additional 563,761 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. UBS Group downgraded shares of Republic Services from a "buy" rating to a "neutral" rating and upped their target price for the company from $175.00 to $195.00 in a research note on Thursday, February 29th. Scotiabank assumed coverage on shares of Republic Services in a research note on Monday. They issued a "sector perform" rating and a $211.00 target price for the company. Royal Bank of Canada assumed coverage on shares of Republic Services in a research note on Monday. They issued a "sector perform" rating and a $198.00 target price for the company. Truist Financial upped their target price on shares of Republic Services from $175.00 to $192.00 and gave the company a "hold" rating in a research note on Wednesday, February 28th. Finally, Citigroup upped their target price on shares of Republic Services from $190.00 to $215.00 and gave the company a "buy" rating in a research note on Thursday, February 29th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Republic Services presently has a consensus rating of "Moderate Buy" and a consensus price target of $198.15.

Republic Services Stock Up 0.5 %

RSG traded up $0.89 during trading hours on Wednesday, hitting $189.69. 1,374,021 shares of the company's stock were exchanged, compared to its average volume of 1,188,212. Republic Services, Inc. has a 1-year low of $133.81 and a 1-year high of $192.57. The stock's 50-day moving average is $183.85 and its two-hundred day moving average is $166.83. The stock has a market cap of $59.68 billion, a price-to-earnings ratio of 34.68, a PEG ratio of 3.30 and a beta of 0.68. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13.

Republic Services (NYSE:RSG - Get Free Report) last announced its earnings results on Tuesday, February 27th. The business services provider reported $1.41 EPS for the quarter, topping the consensus estimate of $1.28 by $0.13. Republic Services had a net margin of 11.57% and a return on equity of 17.32%. The business had revenue of $3.83 billion during the quarter, compared to analysts' expectations of $3.73 billion. During the same quarter in the prior year, the company posted $1.13 earnings per share. The firm's revenue was up 8.6% on a year-over-year basis. Sell-side analysts predict that Republic Services, Inc. will post 6 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Tuesday, April 2nd will be paid a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Monday, April 1st. Republic Services's dividend payout ratio is currently 39.12%.

Insider Buying and Selling at Republic Services

In other Republic Services news, CEO Ark Jon Vander sold 5,446 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $184.10, for a total value of $1,002,608.60. Following the completion of the sale, the chief executive officer now owns 85,113 shares in the company, valued at $15,669,303.30. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company's stock.

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.