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

Oxbow Advisors LLC cut its stake in shares of Republic Services, Inc. (NYSE:RSG) by 5.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 3,516 shares of the business services provider’s stock after selling 199 shares during the quarter. Oxbow Advisors LLC’s holdings in Republic Services were worth $683,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in RSG. Unigestion Holding SA increased its stake in Republic Services by 2,178.2% during the fourth quarter. Unigestion Holding SA now owns 127,647 shares of the business services provider’s stock worth $21,048,000 after acquiring an additional 122,044 shares during the last quarter. Bank of Nova Scotia increased its position in Republic Services by 52.3% during the 4th quarter. Bank of Nova Scotia now owns 214,504 shares of the business services provider’s stock worth $35,357,000 after purchasing an additional 73,651 shares in the last quarter. TCW Group Inc. purchased a new position in Republic Services in the fourth quarter valued at approximately $17,903,000. Hsbc Holdings PLC grew its stake in Republic Services by 8.7% during the fourth quarter. Hsbc Holdings PLC now owns 456,726 shares of the business services provider’s stock worth $75,297,000 after buying an additional 36,484 shares during the period. Finally, Allianz Asset Management GmbH increased its position in shares of Republic Services by 10.4% in the fourth quarter. Allianz Asset Management GmbH now owns 591,209 shares of the business services provider’s stock worth $97,496,000 after acquiring an additional 55,668 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RSG. StockNews.com cut shares of Republic Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. TD Cowen increased their target price on Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft assumed coverage on Republic Services in a research report on Thursday, May 23rd. They set a “hold” rating and a $203.00 price target on the stock. Raymond James lowered their price objective on shares of Republic Services from $219.00 to $214.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Finally, Truist Financial raised shares of Republic Services from a “hold” rating to a “buy” rating and boosted their target price for the stock from $192.00 to $220.00 in a research report on Thursday, July 11th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $211.00.

Insider Transactions at Republic Services

In related news, Director Tomago Collins sold 3,200 shares of Republic Services stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $203.01, for a total value of $649,632.00. Following the sale, the director now directly owns 17,486 shares in the company, valued at approximately $3,549,832.86. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.09% of the company’s stock.

Republic Services Stock Performance

Shares of NYSE:RSG traded down $2.61 on Friday, reaching $202.82. 1,033,364 shares of the company’s stock were exchanged, compared to its average volume of 1,174,679. Republic Services, Inc. has a fifty-two week low of $140.23 and a fifty-two week high of $208.69. The business’s 50-day moving average is $200.65 and its two-hundred day moving average is $192.34. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $63.87 billion, a price-to-earnings ratio of 35.58, a PEG ratio of 3.34 and a beta of 0.70.

Republic Services (NYSE:RSG) last posted its earnings results on Wednesday, July 24th. The business services provider reported $1.61 EPS for the quarter, beating the consensus estimate of $1.53 by $0.08. The company had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.03 billion. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. As a group, equities research analysts forecast that Republic Services, Inc. will post 6.18 EPS for the current year.

Republic Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be issued a dividend of $0.58 per share. This is an increase from Republic Services’s previous quarterly dividend of $0.54. The ex-dividend date is Wednesday, October 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.14%. Republic Services’s payout ratio is 40.70%.

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.