Insider Selling: Republic Services, Inc. (NYSE:RSG) CMO Sells 6,500 Shares of Stock

Republic Services, Inc. (NYSE:RSG) CMO Amanda Hodges sold 6,500 shares of Republic Services stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $186.02, for a total value of $1,209,130.00. Following the completion of the sale, the chief marketing officer now directly owns 6,831 shares in the company, valued at $1,270,702.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Republic Services Trading Up 0.4 %

Shares of RSG opened at $188.13 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.53 and a quick ratio of 0.53. The firm has a market capitalization of $59.25 billion, a price-to-earnings ratio of 33.01, a PEG ratio of 3.22 and a beta of 0.67. The company has a 50-day moving average of $188.16 and a 200 day moving average of $172.97. Republic Services, Inc. has a 1-year low of $140.07 and a 1-year high of $196.76.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Tuesday, April 30th. The business services provider reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.10. The firm had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.89 billion. Republic Services had a return on equity of 17.56% and a net margin of 11.81%. Republic Services’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.24 earnings per share. On average, research analysts expect that Republic Services, Inc. will post 6.05 EPS for the current 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 issued a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 1.14%. The ex-dividend date is Tuesday, July 2nd. Republic Services’s payout ratio is 37.54%.

Institutional Investors Weigh In On Republic Services

Several large investors have recently modified their holdings of RSG. JPMorgan Chase & Co. increased its holdings in Republic Services by 0.7% during the third quarter. JPMorgan Chase & Co. now owns 6,658,978 shares of the business services provider’s stock valued at $948,971,000 after buying an additional 44,512 shares during the period. Capital World Investors increased its holdings in shares of Republic Services by 416.9% in the 4th quarter. Capital World Investors now owns 6,562,420 shares of the business services provider’s stock valued at $1,082,209,000 after acquiring an additional 5,292,862 shares during the period. Morgan Stanley raised its position in shares of 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 acquiring an additional 197,654 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Republic Services by 2.9% during 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 purchasing an additional 107,499 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Republic Services by 0.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,727,719 shares of the business services provider’s stock valued at $531,237,000 after purchasing an additional 13,166 shares in the last quarter. Institutional investors own 57.73% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on RSG. Morgan Stanley cut Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 price objective on the stock. in a report on Friday, March 15th. Jefferies Financial Group increased their price target on shares of Republic Services from $213.00 to $225.00 and gave the company a “buy” rating in a report on Monday, March 18th. UBS Group boosted their price objective on Republic Services from $195.00 to $200.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. BMO Capital Markets raised their price objective on Republic Services from $173.00 to $195.00 and gave the company a “market perform” rating in a research note on Wednesday, February 28th. Finally, Truist Financial increased their price target on Republic Services from $175.00 to $192.00 and gave the company a “hold” rating in a report on Wednesday, February 28th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average 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.