Corbyn Investment Management Inc. MD Cuts Holdings in Republic Services, Inc. (NYSE:RSG)

Corbyn Investment Management Inc. MD trimmed its holdings in Republic Services, Inc. (NYSE:RSG) by 3.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 126,608 shares of the business services provider’s stock after selling 3,992 shares during the quarter. Republic Services comprises about 9.8% of Corbyn Investment Management Inc. MD’s portfolio, making the stock its biggest position. Corbyn Investment Management Inc. MD’s holdings in Republic Services were worth $20,879,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Republic Services by 0.3% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,150 shares of the business services provider’s stock worth $4,147,000 after purchasing an additional 66 shares in the last quarter. Parcion Private Wealth LLC grew its holdings in Republic Services by 0.3% during the fourth quarter. Parcion Private Wealth LLC now owns 23,808 shares of the business services provider’s stock worth $3,926,000 after buying an additional 68 shares in the last quarter. Stokes Family Office LLC raised its position in Republic Services by 2.2% in the 3rd quarter. Stokes Family Office LLC now owns 3,209 shares of the business services provider’s stock valued at $457,000 after buying an additional 70 shares during the last quarter. WASHINGTON TRUST Co boosted its holdings in Republic Services by 4.5% during the 4th quarter. WASHINGTON TRUST Co now owns 1,620 shares of the business services provider’s stock worth $267,000 after acquiring an additional 70 shares during the last quarter. Finally, FinTrust Capital Advisors LLC grew its stake in shares of Republic Services by 56.3% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 197 shares of the business services provider’s stock worth $28,000 after acquiring an additional 71 shares in the last quarter. Institutional investors own 57.73% of the company’s stock.

Republic Services Trading Down 0.1 %

Shares of NYSE RSG traded down $0.26 during mid-day trading on Friday, hitting $193.30. The stock had a trading volume of 834,088 shares, compared to its average volume of 1,199,697. The business has a 50 day moving average price of $187.13 and a two-hundred day moving average price of $170.17. Republic Services, Inc. has a 1 year low of $135.33 and a 1 year high of $193.82. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market cap of $60.89 billion, a P/E ratio of 35.34, a price-to-earnings-growth ratio of 3.36 and a beta of 0.68.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, February 27th. The business services provider reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $3.73 billion. During the same quarter in the previous year, the company earned $1.13 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities analysts anticipate that Republic Services, Inc. will post 6.01 EPS for the current fiscal year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Tuesday, April 2nd were issued a $0.535 dividend. The ex-dividend date of this dividend was Monday, April 1st. This represents a $2.14 annualized dividend and a yield of 1.11%. Republic Services’s dividend payout ratio (DPR) is presently 39.12%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Oppenheimer increased their price target on Republic Services from $182.00 to $195.00 and gave the company an “outperform” rating in a research report on Wednesday, February 28th. Truist Financial boosted 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. BMO Capital Markets increased their price objective on Republic Services from $173.00 to $195.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 28th. Wells Fargo & Company upped their target price on Republic Services from $180.00 to $188.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Finally, Jefferies Financial Group boosted their price objective on Republic Services from $213.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Republic Services currently has a consensus rating of “Moderate Buy” and an average price target of $199.77.

Insiders Place Their Bets

In other news, CEO Ark Jon Vander sold 5,446 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $184.10, for a total value of $1,002,608.60. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is owned by corporate 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.