DecisionPoint Financial LLC Reduces Stake in Republic Services, Inc. (NYSE:RSG)

DecisionPoint Financial LLC trimmed its holdings in Republic Services, Inc. (NYSE:RSG) by 21.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,450 shares of the business services provider’s stock after selling 931 shares during the quarter. Republic Services comprises approximately 0.2% of DecisionPoint Financial LLC’s portfolio, making the stock its 22nd biggest position. DecisionPoint Financial LLC’s holdings in Republic Services were worth $569,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Latitude Advisors LLC acquired a new stake in shares of Republic Services during the fourth quarter worth about $222,000. Everence Capital Management Inc. increased its position in Republic Services by 30.6% during the fourth quarter. Everence Capital Management Inc. now owns 14,950 shares of the business services provider’s stock worth $2,465,000 after buying an additional 3,500 shares during the period. Desjardins Global Asset Management Inc. lifted its stake in Republic Services by 34.6% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 362 shares of the business services provider’s stock valued at $60,000 after buying an additional 93 shares during the last quarter. Buffington Mohr McNeal boosted its holdings in shares of Republic Services by 35.2% in the fourth quarter. Buffington Mohr McNeal now owns 23,949 shares of the business services provider’s stock valued at $3,949,000 after acquiring an additional 6,230 shares during the period. Finally, Flputnam Investment Management Co. grew its position in shares of Republic Services by 4.0% during the fourth quarter. Flputnam Investment Management Co. now owns 176,298 shares of the business services provider’s stock worth $29,073,000 after acquiring an additional 6,730 shares during the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Price Performance

Republic Services stock traded up $0.70 during mid-day trading on Wednesday, hitting $188.18. 848,359 shares of the company were exchanged, compared to its average volume of 1,182,573. Republic Services, Inc. has a 12-month low of $135.33 and a 12-month high of $192.57. The company has a market capitalization of $59.27 billion, a P/E ratio of 34.27, a PEG ratio of 3.27 and a beta of 0.68. The business’s 50 day simple moving average is $185.00 and its two-hundred day simple moving average is $168.20. 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 (NYSE:RSG) last announced its earnings results on Tuesday, February 27th. The business services provider reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.13. Republic Services had a net margin of 11.57% and a return on equity of 17.32%. The firm had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter in the previous year, the company posted $1.13 EPS. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. Analysts forecast that Republic Services, Inc. will post 6.01 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Tuesday, April 2nd were issued a dividend of $0.535 per share. The ex-dividend date of this dividend was Monday, April 1st. This represents a $2.14 annualized dividend and a dividend yield of 1.14%. Republic Services’s payout ratio is currently 39.12%.

Insider Buying and Selling

In other news, CEO Ark Jon Vander sold 5,446 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 85,113 shares of the company’s stock, valued at approximately $15,669,303.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

RSG has been the subject of a number of recent research reports. Truist Financial increased their price target on shares of Republic Services from $175.00 to $192.00 and gave the stock a “hold” rating in a research note on Wednesday, February 28th. Royal Bank of Canada started coverage on Republic Services in a research report on Monday, April 8th. They issued a “sector perform” rating and a $198.00 price target on the stock. Stifel Nicolaus increased their price objective on Republic Services from $175.00 to $187.00 and gave the stock a “buy” rating in a research report on Tuesday, December 19th. Jefferies Financial Group boosted their target price on Republic Services from $213.00 to $225.00 and gave the company a “buy” rating in a report on Monday, March 18th. Finally, Citigroup lifted their price objective on shares of Republic Services from $190.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Republic Services presently has an average rating of “Moderate Buy” and an average price target of $199.77.

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.