Corient Private Wealth LLC Cuts Position in Republic Services, Inc. $RSG

Corient Private Wealth LLC reduced its position in Republic Services, Inc. (NYSE:RSG) by 22.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 226,712 shares of the business services provider’s stock after selling 66,867 shares during the quarter. Corient Private Wealth LLC’s holdings in Republic Services were worth $48,367,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of RSG. Wealth Watch Advisors INC purchased a new position in Republic Services in the third quarter valued at approximately $26,000. Laurel Wealth Advisors LLC acquired a new position in Republic Services during the fourth quarter valued at approximately $25,000. Ameriflex Group Inc. purchased a new stake in Republic Services during the third quarter worth approximately $29,000. Prosperity Bancshares Inc acquired a new stake in shares of Republic Services in the fourth quarter worth $30,000. Finally, Sound Income Strategies LLC purchased a new position in shares of Republic Services in the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Price Performance

Shares of RSG stock opened at $204.87 on Monday. The firm has a fifty day simple moving average of $207.44 and a 200-day simple moving average of $214.17. The company has a market capitalization of $63.03 billion, a PE ratio of 29.39, a price-to-earnings-growth ratio of 3.37 and a beta of 0.41. Republic Services, Inc. has a twelve month low of $196.41 and a twelve month high of $251.17. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.06. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The firm had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter in the previous year, the firm posted $1.58 EPS. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. Equities research analysts anticipate that Republic Services, Inc. will post 7.28 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

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

Analysts Set New Price Targets

RSG has been the topic of several recent research reports. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $249.00 target price on shares of Republic Services in a report on Friday, May 8th. Barclays raised their price objective on Republic Services from $227.00 to $233.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. UBS Group reduced their price objective on Republic Services from $240.00 to $223.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 12th. JPMorgan Chase & Co. upped their target price on Republic Services from $233.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, April 10th. Finally, Argus lowered Republic Services from a “buy” rating to a “hold” rating in a research note on Monday, May 11th. Eleven investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $243.26.

Insider Activity

In other Republic Services news, major shareholder Cascade Investment, L.L.C. acquired 366,000 shares of the company’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 acquisition, the insider directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $380,304.00. Following the completion of the transaction, the director directly owned 58 shares in the company, valued at approximately $12,254.24. The trade was a 96.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders purchased 987,150 shares of company stock worth $202,366,682. Insiders own 0.12% of the company’s stock.

About Republic Services

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.