Tucker Asset Management LLC Reduces Stock Position in Republic Services, Inc. (NYSE:RSG)

Tucker Asset Management LLC lessened its holdings in Republic Services, Inc. (NYSE:RSG) by 9.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,506 shares of the business services provider’s stock after selling 369 shares during the quarter. Tucker Asset Management LLC’s holdings in Republic Services were worth $578,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Capital World Investors grew its holdings in shares of Republic Services by 416.9% during the fourth quarter. Capital World Investors now owns 6,562,420 shares of the business services provider’s stock worth $1,082,209,000 after purchasing an additional 5,292,862 shares during the last quarter. Norges Bank purchased a new position in shares of Republic Services during the fourth quarter worth about $358,837,000. Magellan Asset Management Ltd grew its holdings in shares of Republic Services by 1,497,159.0% during the third quarter. Magellan Asset Management Ltd now owns 913,328 shares of the business services provider’s stock worth $130,158,000 after purchasing an additional 913,267 shares during the last quarter. FMR LLC grew its holdings in shares of Republic Services by 34.4% during the third quarter. FMR LLC now owns 2,202,405 shares of the business services provider’s stock worth $313,865,000 after purchasing an additional 563,761 shares during the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Republic Services during the fourth quarter worth about $77,417,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Stock Performance

NYSE:RSG traded up $1.21 during mid-day trading on Friday, reaching $188.64. The stock had a trading volume of 653,923 shares, compared to its average volume of 929,391. 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 firm has a market capitalization of $59.41 billion, a price-to-earnings ratio of 33.09, a PEG ratio of 3.15 and a beta of 0.68. Republic Services, Inc. has a twelve month low of $140.23 and a twelve month high of $196.76. The business has a 50 day simple moving average of $187.84 and a 200 day simple moving average of $179.07.

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

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, July 2nd will be issued a $0.535 dividend. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a $2.14 dividend on an annualized basis and a yield of 1.13%. Republic Services’s dividend payout ratio (DPR) is presently 37.54%.

Insider Buying and Selling at Republic Services

In related news, Director Katharine Weymouth bought 540 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was bought at an average cost of $185.26 per share, with a total value of $100,040.40. Following the completion of the acquisition, the director now owns 540 shares in the company, valued at approximately $100,040.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other 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 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 SEC, which is available at the SEC website. Also, Director Katharine Weymouth acquired 540 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were acquired at an average cost of $185.26 per share, with a total value of $100,040.40. Following the completion of the purchase, the director now owns 540 shares in the company, valued at $100,040.40. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on RSG shares. BMO Capital Markets raised their price objective on Republic Services from $173.00 to $195.00 and gave the stock a “market perform” rating in a report on Wednesday, February 28th. Oppenheimer increased their target price on shares of Republic Services from $202.00 to $204.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Jefferies Financial Group increased their target price on shares of Republic Services from $213.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Truist Financial increased their target price 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. Finally, The Goldman Sachs Group increased their target price on shares of Republic Services from $209.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Republic Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.14.

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.