Empirical Financial Services LLC d.b.a. Empirical Wealth Management Sells 99 Shares of Republic Services, Inc. (NYSE:RSG)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lowered its stake in shares of Republic Services, Inc. (NYSE:RSG) by 5.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,883 shares of the business services provider’s stock after selling 99 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Republic Services were worth $311,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Schechter Investment Advisors LLC increased its position in shares of Republic Services by 19.4% during the 3rd quarter. Schechter Investment Advisors LLC now owns 2,791 shares of the business services provider’s stock valued at $398,000 after purchasing an additional 453 shares during the last quarter. abrdn plc raised its position in Republic Services by 64.1% in the fourth quarter. abrdn plc now owns 96,531 shares of the business services provider’s stock worth $15,919,000 after acquiring an additional 37,690 shares during the period. Axxcess Wealth Management LLC boosted its stake in Republic Services by 183.4% in the fourth quarter. Axxcess Wealth Management LLC now owns 8,075 shares of the business services provider’s stock valued at $1,332,000 after acquiring an additional 5,226 shares during the last quarter. First Financial Corp IN grew its position in shares of Republic Services by 4.7% during the 4th quarter. First Financial Corp IN now owns 2,858 shares of the business services provider’s stock valued at $471,000 after acquiring an additional 128 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of Republic Services by 217.7% during the 4th quarter. SG Americas Securities LLC now owns 76,038 shares of the business services provider’s stock worth $12,539,000 after purchasing an additional 52,104 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors.

Republic Services Price Performance

Shares of RSG stock opened at $188.13 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.53 and a current ratio of 0.53. The business’s 50 day moving average price is $188.16 and its 200-day moving average price is $172.97. The firm has a market cap of $59.25 billion, a P/E ratio of 33.01, a P/E/G ratio of 3.22 and a beta of 0.67. Republic Services, Inc. has a fifty-two week low of $140.07 and a fifty-two week high of $196.76.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Tuesday, April 30th. The business services provider reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.10. Republic Services had a return on equity of 17.56% and a net margin of 11.81%. The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the prior year, the business posted $1.24 EPS. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts anticipate that Republic Services, Inc. will post 6.05 earnings per share for the current year.

Republic Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Tuesday, July 2nd will be issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Tuesday, July 2nd. Republic Services’s payout ratio is 37.54%.

Insider Transactions at Republic Services

In other Republic Services news, CMO Amanda Hodges sold 6,500 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the sale, the chief marketing officer now owns 6,831 shares in the company, valued at approximately $1,270,702.62. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Republic Services news, CMO Amanda Hodges sold 6,500 shares of Republic Services stock in a transaction on Monday, May 6th. The shares were sold at an average price of $186.02, for a total value of $1,209,130.00. Following the completion of the transaction, the chief marketing officer now directly owns 6,831 shares of the company’s stock, valued at approximately $1,270,702.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ark Jon Vander sold 5,446 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 85,113 shares in the company, valued at $15,669,303.30. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on RSG. Truist Financial increased their price objective on Republic Services from $175.00 to $192.00 and gave the company a “hold” rating in a report on Wednesday, February 28th. Wells Fargo & Company boosted their price target on shares of Republic Services from $180.00 to $188.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. Morgan Stanley downgraded shares of Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 price objective for the company. in a report on Friday, March 15th. Citigroup boosted their target price on shares of Republic Services from $190.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Finally, Jefferies Financial Group raised their price target 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 assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $201.00.

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.