International Assets Investment Management LLC Sells 535,981 Shares of Republic Services, Inc. (NYSE:RSG)

International Assets Investment Management LLC lowered its position in shares of Republic Services, Inc. (NYSE:RSG) by 99.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 2,672 shares of the business services provider’s stock after selling 535,981 shares during the period. International Assets Investment Management LLC’s holdings in Republic Services were worth $535,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Diversified Trust Co increased its holdings in shares of Republic Services by 12.1% in the fourth quarter. Diversified Trust Co now owns 1,537 shares of the business services provider’s stock worth $309,000 after purchasing an additional 166 shares during the period. Canandaigua National Trust Co of Florida purchased a new stake in shares of Republic Services in the 4th quarter valued at about $247,000. Nordea Investment Management AB boosted its position in shares of Republic Services by 19.4% during the 4th quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock valued at $626,553,000 after acquiring an additional 509,116 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Republic Services by 15.7% in the fourth quarter. GAMMA Investing LLC now owns 5,690 shares of the business services provider’s stock worth $1,145,000 after purchasing an additional 773 shares during the last quarter. Finally, Versant Capital Management Inc raised its stake in Republic Services by 1.6% in the fourth quarter. Versant Capital Management Inc now owns 9,929 shares of the business services provider’s stock valued at $1,998,000 after purchasing an additional 153 shares in the last quarter. Institutional investors own 57.73% of the company’s stock.

Insiders Place Their Bets

In related news, Director Katharine Weymouth sold 1,859 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $215.27, for a total value of $400,186.93. Following the transaction, the director now owns 879 shares in the company, valued at $189,222.33. The trade was a 67.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the completion of the transaction, the chief financial officer now directly owns 6,318 shares of the company’s stock, valued at $1,326,906.36. This trade represents a 44.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Republic Services Stock Down 0.2 %

NYSE RSG opened at $206.47 on Friday. The business’s 50-day moving average is $208.87 and its 200 day moving average is $203.89. The stock has a market capitalization of $64.66 billion, a PE ratio of 33.04, a PEG ratio of 3.30 and a beta of 0.73. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64. Republic Services, Inc. has a 1 year low of $163.17 and a 1 year high of $220.58.

Republic Services (NYSE:RSG) last posted its earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.61 by $0.20. The firm had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company posted $1.54 EPS. Sell-side analysts forecast that Republic Services, Inc. will post 6.25 earnings per share for the current year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s dividend payout ratio (DPR) is presently 37.12%.

Analyst Ratings Changes

RSG has been the topic of a number of research analyst reports. Truist Financial increased their price target on shares of Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley lifted their price target on Republic Services from $217.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Royal Bank of Canada upgraded Republic Services from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $219.00 to $237.00 in a research report on Monday, January 6th. Oppenheimer boosted their target price on Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Scotiabank started coverage on shares of Republic Services in a research note on Friday, October 4th. They set a “sector perform” rating and a $224.00 price target on the stock. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $221.12.

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.