Renasant Bank Decreases Holdings in Republic Services, Inc. (NYSE:RSG)

Renasant Bank cut its position in shares of Republic Services, Inc. (NYSE:RSG) by 44.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,336 shares of the business services provider’s stock after selling 1,856 shares during the period. Renasant Bank’s holdings in Republic Services were worth $470,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of RSG. McGlone Suttner Wealth Management Inc. increased its position in shares of Republic Services by 2.2% during the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 2,213 shares of the business services provider’s stock worth $445,000 after acquiring an additional 48 shares during the last quarter. Simmons Bank grew its stake in Republic Services by 2.8% during the 3rd quarter. Simmons Bank now owns 1,895 shares of the business services provider’s stock valued at $381,000 after purchasing an additional 51 shares in the last quarter. Access Financial Services Inc. raised its position in shares of Republic Services by 0.8% in the 4th quarter. Access Financial Services Inc. now owns 6,178 shares of the business services provider’s stock valued at $1,243,000 after purchasing an additional 51 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in shares of Republic Services by 1.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 5,099 shares of the business services provider’s stock valued at $1,024,000 after buying an additional 52 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its position in shares of Republic Services by 16.5% during the third quarter. Venturi Wealth Management LLC now owns 382 shares of the business services provider’s stock worth $77,000 after buying an additional 54 shares in the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Stock Down 0.7 %

Republic Services stock opened at $229.08 on Friday. The company’s 50-day moving average price is $221.33 and its two-hundred day moving average price is $211.50. The stock has a market cap of $71.54 billion, a price-to-earnings ratio of 35.30, a PEG ratio of 3.64 and a beta of 0.73. Republic Services, Inc. has a 52 week low of $180.91 and a 52 week high of $240.95. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04.

Republic Services (NYSE:RSG) last announced its earnings results on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.37 by $0.21. The firm had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. During the same quarter in the previous year, the company earned $1.41 earnings per share. On average, analysts expect that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Wednesday, April 2nd. Republic Services’s payout ratio is currently 35.75%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RSG. BMO Capital Markets raised Republic Services from a “market perform” rating to an “outperform” rating and upped their price target for the company from $211.00 to $238.00 in a research report on Friday, December 6th. Argus set a $260.00 price target on shares of Republic Services in a report on Tuesday, February 18th. CIBC upgraded shares of Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 price objective on the stock in a research note on Tuesday, March 4th. Truist Financial restated a “buy” rating and issued a $250.00 target price (up from $244.00) on shares of Republic Services in a research note on Friday, February 14th. Finally, William Blair reiterated an “outperform” rating on shares of Republic Services in a research report on Friday, February 14th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Republic Services has an average rating of “Moderate Buy” and a consensus target price of $236.88.

Insiders Place Their Bets

In other news, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total value of $1,436,062.60. Following the transaction, the chief operating officer now owns 10,416 shares of the company’s stock, valued at $2,376,931.20. The trade was a 37.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.09% of the stock is owned by company insiders.

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.