Tandem Investment Advisors Inc. Sells 14,604 Shares of Republic Services, Inc. (NYSE:RSG)

Tandem Investment Advisors Inc. cut its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 432,066 shares of the business services provider's stock after selling 14,604 shares during the period. Republic Services accounts for approximately 2.8% of Tandem Investment Advisors Inc.'s investment portfolio, making the stock its 14th biggest holding. Tandem Investment Advisors Inc. owned about 0.14% of Republic Services worth $71,252,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Daiwa Securities Group Inc. boosted its holdings in Republic Services by 8.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 19,572 shares of the business services provider's stock valued at $3,228,000 after purchasing an additional 1,498 shares during the last quarter. Latitude Advisors LLC acquired a new stake in Republic Services in the 4th quarter valued at about $222,000. Everence Capital Management Inc. increased its holdings in shares of Republic Services by 30.6% during the 4th quarter. Everence Capital Management Inc. now owns 14,950 shares of the business services provider's stock worth $2,465,000 after buying an additional 3,500 shares during the last quarter. Desjardins Global Asset Management Inc. raised its position in shares of Republic Services by 34.6% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 362 shares of the business services provider's stock valued at $60,000 after buying an additional 93 shares during the period. Finally, Buffington Mohr McNeal raised its position in shares of Republic Services by 35.2% during the 4th quarter. Buffington Mohr McNeal now owns 23,949 shares of the business services provider's stock valued at $3,949,000 after buying an additional 6,230 shares during the period. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Price Performance

Shares of NYSE RSG traded up $1.47 during midday trading on Wednesday, reaching $188.95. The company's stock had a trading volume of 1,460,052 shares, compared to its average volume of 1,191,292. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. The company has a 50 day moving average price of $185.00 and a 200 day moving average price of $168.20. Republic Services, Inc. has a one year low of $135.33 and a one year high of $192.57. The company has a market cap of $59.52 billion, a price-to-earnings ratio of 34.27, a price-to-earnings-growth ratio of 3.27 and a beta of 0.68.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The business services provider reported $1.41 EPS for the quarter, beating analysts' consensus estimates of $1.28 by $0.13. The firm had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.73 billion. Republic Services had a net margin of 11.57% and a return on equity of 17.32%. The firm's revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.13 earnings per share. On average, equities research analysts expect that Republic Services, Inc. will post 6.01 EPS for the current year.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Tuesday, April 2nd were paid a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Monday, April 1st. Republic Services's payout ratio is currently 39.12%.

Insider Buying and Selling at Republic Services

In other news, CEO Ark Jon Vander sold 5,446 shares of the company's stock in a transaction dated 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 sale, the chief executive officer now owns 85,113 shares of the company's stock, valued at approximately $15,669,303.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on RSG shares. BMO Capital Markets boosted their target price on Republic Services from $173.00 to $195.00 and gave the company a "market perform" rating in a research report on Wednesday, February 28th. UBS Group downgraded shares of Republic Services from a "buy" rating to a "neutral" rating and boosted their price target for the stock from $175.00 to $195.00 in a research note on Thursday, February 29th. Wells Fargo & Company boosted their target price on shares of Republic Services from $180.00 to $188.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 6th. Truist Financial upped their price objective 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, Morgan Stanley downgraded shares of Republic Services from an "overweight" rating to an "equal weight" rating and set a $199.00 price objective for the company. in a research note on Friday, March 15th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $199.77.

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.

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