Truist Financial Corp Trims Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Truist Financial Corp decreased its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 10.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,206 shares of the business services provider's stock after selling 4,651 shares during the period. Truist Financial Corp's holdings in Republic Services were worth $6,466,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of RSG. Schechter Investment Advisors LLC raised its position in shares of Republic Services by 19.4% during the third quarter. Schechter Investment Advisors LLC now owns 2,791 shares of the business services provider's stock worth $398,000 after acquiring an additional 453 shares during the last quarter. abrdn plc lifted its position in Republic Services by 64.1% during the 4th quarter. abrdn plc now owns 96,531 shares of the business services provider's stock valued at $15,919,000 after purchasing an additional 37,690 shares during the period. First Financial Corp IN boosted its stake in shares of Republic Services by 4.7% in the 4th quarter. First Financial Corp IN now owns 2,858 shares of the business services provider's stock valued at $471,000 after purchasing an additional 128 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Republic Services by 217.7% during the fourth quarter. SG Americas Securities LLC now owns 76,038 shares of the business services provider's stock worth $12,539,000 after buying an additional 52,104 shares during the last quarter. Finally, Robeco Schweiz AG lifted its holdings in Republic Services by 65.9% in the third quarter. Robeco Schweiz AG now owns 34,500 shares of the business services provider's stock valued at $4,917,000 after buying an additional 13,700 shares during the period. 57.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Republic Services

In other news, CEO Ark Jon Vander sold 5,446 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was 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 of the company's stock, valued at approximately $15,669,303.30. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.09% of the company's stock.

Republic Services Stock Down 0.5 %

NYSE RSG traded down $0.93 during trading on Friday, hitting $185.51. The stock had a trading volume of 1,219,295 shares, compared to its average volume of 1,470,838. The company has a market capitalization of $58.42 billion, a PE ratio of 32.55, a P/E/G ratio of 3.24 and a beta of 0.67. Republic Services, Inc. has a 12 month low of $140.07 and a 12 month high of $196.76. The company's 50-day moving average price is $188.02 and its two-hundred day moving average price is $172.28. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.56 and a current ratio of 0.53.

Republic Services (NYSE:RSG - Get Free Report) last announced its earnings results on Tuesday, April 30th. The business services provider reported $1.45 EPS for the quarter, topping the consensus estimate of $1.35 by $0.10. Republic Services had a net margin of 11.81% and a return on equity of 17.56%. The business had revenue of $3.86 billion during the quarter, compared to analysts' expectations of $3.89 billion. During the same quarter in the prior year, the company posted $1.24 earnings per share. The firm's revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts forecast that Republic Services, Inc. will post 6.05 EPS for the current year.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Tuesday, July 2nd will be issued a dividend of $0.535 per share. The ex-dividend date is Tuesday, July 2nd. This represents a $2.14 annualized dividend and a yield of 1.15%. Republic Services's payout ratio is presently 37.54%.

Wall Street Analyst Weigh In

A number of analysts have commented on RSG shares. Royal Bank of Canada began coverage on shares of Republic Services in a report on Monday, April 8th. They set a "sector perform" rating and a $198.00 target price for the company. Morgan Stanley cut Republic Services from an "overweight" rating to an "equal weight" rating and set a $199.00 target price on the stock. in a report on Friday, March 15th. Wells Fargo & Company increased their price target on shares of Republic Services from $180.00 to $188.00 and gave the company an "overweight" rating in a research report on Tuesday, February 6th. BMO Capital Markets boosted their price objective on shares of Republic Services from $173.00 to $195.00 and gave the company a "market perform" rating in a report on Wednesday, February 28th. Finally, Citigroup increased their target price on shares of Republic Services from $190.00 to $215.00 and gave the stock a "buy" rating in a report on Thursday, February 29th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $201.00.

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.