Independent Advisor Alliance Has $2.02 Million Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Independent Advisor Alliance cut its stake in Republic Services, Inc. (NYSE:RSG) by 3.2% during the third quarter, HoldingsChannel reports. The fund owned 10,050 shares of the business services provider’s stock after selling 334 shares during the quarter. Independent Advisor Alliance’s holdings in Republic Services were worth $2,018,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Simmons Bank increased its stake in shares of Republic Services by 2.8% in the third quarter. Simmons Bank now owns 1,895 shares of the business services provider’s stock worth $381,000 after acquiring an additional 51 shares during the last quarter. RFG Advisory LLC increased its stake in shares of Republic Services by 0.5% in the second quarter. RFG Advisory LLC now owns 10,603 shares of the business services provider’s stock worth $2,061,000 after acquiring an additional 53 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in shares of Republic Services by 2.9% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,860 shares of the business services provider’s stock worth $362,000 after acquiring an additional 53 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in Republic Services by 16.5% in the third quarter. Venturi Wealth Management LLC now owns 382 shares of the business services provider’s stock worth $77,000 after purchasing an additional 54 shares in the last quarter. Finally, Hexagon Capital Partners LLC boosted its holdings in Republic Services by 4.0% in the second quarter. Hexagon Capital Partners LLC now owns 1,433 shares of the business services provider’s stock worth $278,000 after purchasing an additional 55 shares in the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total value of $1,065,011.42. Following the completion of the transaction, the chief financial officer now owns 6,318 shares of the company’s stock, valued at $1,326,906.36. This represents a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.09% of the company’s stock.

Republic Services Stock Up 0.5 %

NYSE RSG opened at $217.83 on Tuesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a 50-day simple moving average of $204.81 and a 200 day simple moving average of $199.22. Republic Services, Inc. has a twelve month low of $159.10 and a twelve month high of $218.90. The stock has a market cap of $68.21 billion, a PE ratio of 34.85, a PEG ratio of 3.31 and a beta of 0.70.

Republic Services (NYSE:RSG) last released its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.20. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The business had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter last year, the company earned $1.54 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. On average, research analysts forecast that Republic Services, Inc. will post 6.24 EPS for the current year.

Republic Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s dividend payout ratio (DPR) is presently 37.12%.

Wall Street Analyst Weigh In

RSG has been the subject of a number of recent research reports. Scotiabank initiated coverage on shares of Republic Services in a report on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price objective for the company. Truist Financial upped their price objective 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. TD Cowen upped their price objective on shares of Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Royal Bank of Canada upped their price objective on shares of Republic Services from $211.00 to $219.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. Finally, Oppenheimer upped their price objective on shares of Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Republic Services presently has an average rating of “Moderate Buy” and an average price target of $215.71.

Republic Services 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.