Republic Services, Inc. (NYSE:RSG) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in shares of Republic Services, Inc. (NYSE:RSG) by 9.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,207,640 shares of the business services provider’s stock after selling 237,840 shares during the quarter. Victory Capital Management Inc.’s holdings in Republic Services were worth $364,062,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Schechter Investment Advisors LLC raised its stake in Republic Services by 19.4% during the 3rd 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 in the last quarter. abrdn plc raised its stake in Republic Services by 64.1% during the 4th quarter. abrdn plc now owns 96,531 shares of the business services provider’s stock worth $15,919,000 after acquiring an additional 37,690 shares in the last quarter. First Financial Corp IN increased its stake in Republic Services by 4.7% in the fourth 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 period. SG Americas Securities LLC increased its stake in Republic Services by 217.7% in the fourth quarter. SG Americas Securities LLC now owns 76,038 shares of the business services provider’s stock valued at $12,539,000 after purchasing an additional 52,104 shares during the period. Finally, Robeco Schweiz AG increased its stake 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 purchasing an additional 13,700 shares during the period. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Price Performance

RSG stock traded down $6.87 during trading on Wednesday, reaching $184.83. 1,749,072 shares of the company were exchanged, compared to its average volume of 1,228,638. The company has a market cap of $58.22 billion, a P/E ratio of 33.75, a PEG ratio of 3.38 and a beta of 0.68. Republic Services, Inc. has a 52-week low of $140.07 and a 52-week high of $196.76. The stock’s 50 day moving average price is $187.85 and its 200 day moving average price is $171.47. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, April 30th. The business services provider reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.10. The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.89 billion. Republic Services had a net margin of 11.57% and a return on equity of 17.32%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.24 earnings per share. As a group, analysts predict that Republic Services, Inc. will post 6.01 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, July 2nd will be given a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend is Tuesday, July 2nd. Republic Services’s payout ratio is currently 39.12%.

Analysts Set New Price Targets

RSG has been the topic of a number of recent research reports. Morgan Stanley lowered shares of Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 price objective on the stock. in a research note on Friday, March 15th. Oppenheimer lifted their price objective on shares of Republic Services from $202.00 to $204.00 and gave the company an “outperform” rating in a research note on Wednesday. Truist Financial lifted 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. The Goldman Sachs Group lifted their target price on shares of Republic Services from $209.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Citigroup lifted their target price on shares of Republic Services from $190.00 to $215.00 and gave the company 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 company. According to data from MarketBeat.com, Republic Services currently has a consensus rating of “Moderate Buy” and an average price target of $200.85.

Insiders Place Their Bets

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

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.