Pittenger & Anderson Inc. Sells 153 Shares of Republic Services, Inc. (NYSE:RSG)

Pittenger & Anderson Inc. reduced its position in Republic Services, Inc. (NYSE:RSG) by 0.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,569 shares of the business services provider’s stock after selling 153 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Republic Services were worth $11,308,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in Republic Services by 0.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,658,978 shares of the business services provider’s stock worth $948,971,000 after buying an additional 44,512 shares during the period. Morgan Stanley lifted its holdings in Republic Services by 4.1% in the 3rd quarter. Morgan Stanley now owns 5,054,359 shares of the business services provider’s stock worth $720,297,000 after buying an additional 197,654 shares during the period. Nordea Investment Management AB lifted its holdings in Republic Services by 2.9% in the 3rd quarter. Nordea Investment Management AB now owns 3,790,052 shares of the business services provider’s stock worth $547,473,000 after buying an additional 107,499 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Republic Services by 0.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,727,719 shares of the business services provider’s stock worth $531,237,000 after acquiring an additional 13,166 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Republic Services by 4.8% in the 3rd quarter. Northern Trust Corp now owns 2,376,009 shares of the business services provider’s stock worth $338,605,000 after acquiring an additional 109,437 shares in the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Royal Bank of Canada assumed coverage on Republic Services in a research report on Monday, April 8th. They issued a “sector perform” rating and a $198.00 target price for the company. Truist Financial increased their target price on Republic Services from $175.00 to $192.00 and gave the stock a “hold” rating in a research report on Wednesday, February 28th. Oppenheimer raised their price objective on Republic Services from $182.00 to $195.00 and gave the company an “outperform” rating in a research report on Wednesday, February 28th. BMO Capital Markets lifted their target price on Republic Services from $173.00 to $195.00 and gave the stock a “market perform” rating in a report on Wednesday, February 28th. Finally, The Goldman Sachs Group lifted their target price on Republic Services from $209.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $199.77.

Insider Transactions at Republic Services

In related news, CEO Ark Jon Vander sold 5,446 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly 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 through this hyperlink. Insiders own 0.09% of the company’s stock.

Republic Services Price Performance

Shares of RSG stock traded down $0.43 during trading hours on Friday, hitting $193.13. The stock had a trading volume of 888,292 shares, compared to its average volume of 1,201,044. The stock’s 50-day moving average price is $187.13 and its two-hundred day moving average price is $170.17. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. Republic Services, Inc. has a one year low of $135.33 and a one year high of $193.82. The stock has a market capitalization of $60.83 billion, a price-to-earnings ratio of 35.34, a PEG ratio of 3.36 and a beta of 0.68.

Republic Services (NYSE:RSG) last announced its earnings results on Tuesday, February 27th. The business services provider reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.13. The business had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.73 billion. Republic Services had a return on equity of 17.32% and a net margin of 11.57%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.13 earnings per share. Equities analysts forecast that Republic Services, Inc. will post 6.01 EPS for the current year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Tuesday, April 2nd were given a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date was Monday, April 1st. Republic Services’s payout ratio is presently 39.12%.

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.