CIBC Private Wealth Group LLC Reduces Position in Republic Services, Inc. (NYSE:RSG)

CIBC Private Wealth Group LLC trimmed its holdings in Republic Services, Inc. (NYSE:RSG) by 2.3% during the fourth quarter, HoldingsChannel reports. The firm owned 88,939 shares of the business services provider’s stock after selling 2,064 shares during the period. CIBC Private Wealth Group LLC’s holdings in Republic Services were worth $18,407,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. FSA Wealth Management LLC purchased a new position in Republic Services during the third quarter worth approximately $25,000. Arcadia Investment Management Corp MI increased its stake in shares of Republic Services by 200.0% in the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock worth $27,000 after acquiring an additional 88 shares during the last quarter. R Squared Ltd purchased a new position in shares of Republic Services during the 4th quarter worth $32,000. New Age Alpha Advisors LLC boosted its position in shares of Republic Services by 70.2% during the 4th quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 73 shares during the last quarter. Finally, Generali Asset Management SPA SGR purchased a new stake in shares of Republic Services in the fourth quarter valued at about $45,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Republic Services

In related news, COO Gregg Brummer sold 6,293 shares of the stock in a transaction on Wednesday, February 19th. The stock was 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. This represents a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on RSG shares. Argus set a $260.00 target price on shares of Republic Services in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and upped their price objective for the company from $219.00 to $237.00 in a report on Tuesday, December 10th. UBS Group raised their target price on Republic Services from $212.00 to $240.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. 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 note on Friday, December 6th. Finally, Cibc World Mkts raised Republic Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 4th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Republic Services presently has a consensus rating of “Moderate Buy” and an average price target of $236.88.

Republic Services Stock Performance

NYSE:RSG opened at $242.42 on Tuesday. The company has a market cap of $75.70 billion, a price-to-earnings ratio of 37.35, a price-to-earnings-growth ratio of 3.64 and a beta of 0.73. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a 52 week low of $180.92 and a 52 week high of $243.08. The company has a fifty day simple moving average of $228.29 and a two-hundred day simple moving average of $214.13.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.21. The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate 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 prior year, the business earned $1.41 EPS. As a group, equities analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services’s dividend payout ratio (DPR) is presently 35.75%.

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.