SpiderRock Advisors LLC Cuts Stock Holdings in Republic Services, Inc. (NYSE:RSG)

SpiderRock Advisors LLC cut its position in shares of Republic Services, Inc. (NYSE:RSG) by 25.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,220 shares of the business services provider’s stock after selling 1,099 shares during the quarter. SpiderRock Advisors LLC’s holdings in Republic Services were worth $647,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC grew its position in shares of Republic Services by 351.6% during the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 109 shares during the period. EntryPoint Capital LLC acquired a new stake in Republic Services in the first quarter valued at approximately $29,000. Webster Bank N. A. purchased a new stake in shares of Republic Services in the third quarter valued at approximately $31,000. Itau Unibanco Holding S.A. acquired a new position in shares of Republic Services during the 2nd quarter worth approximately $36,000. Finally, Indiana Trust & Investment Management CO purchased a new position in shares of Republic Services during the 2nd quarter valued at approximately $45,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on RSG shares. 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 research report on Wednesday, October 30th. Truist Financial raised their price target on shares of Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Stifel Nicolaus increased their target price on Republic Services from $215.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Scotiabank assumed coverage on Republic Services in a research note on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price target on the stock. Finally, TD Cowen increased their price objective on Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a research note on Monday, August 5th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $215.71.

Republic Services Stock Performance

Republic Services stock opened at $211.59 on Monday. The firm has a 50 day simple moving average of $203.32 and a 200-day simple moving average of $197.36. The stock has a market cap of $66.26 billion, a price-to-earnings ratio of 33.85, a price-to-earnings-growth ratio of 3.24 and a beta of 0.70. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64. Republic Services, Inc. has a 1-year low of $154.92 and a 1-year high of $213.25.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The company had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same period in the prior year, the business posted $1.54 earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, analysts expect that Republic Services, Inc. will post 6.24 EPS for the current year.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 1.10%. The ex-dividend date is Thursday, January 2nd. Republic Services’s dividend payout ratio (DPR) is presently 37.12%.

Insider Buying and Selling at Republic Services

In related news, Director Tomago Collins sold 3,200 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $203.01, for a total transaction of $649,632.00. Following the completion of the transaction, the director now owns 17,486 shares of the company’s stock, valued at approximately $3,549,832.86. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.09% of the company’s stock.

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.