Tocqueville Asset Management L.P. Lowers Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Tocqueville Asset Management L.P. trimmed its stake in Republic Services, Inc. (NYSE:RSG) by 1.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 383,524 shares of the business services provider’s stock after selling 3,748 shares during the period. Republic Services makes up about 1.2% of Tocqueville Asset Management L.P.’s investment portfolio, making the stock its 13th biggest position. Tocqueville Asset Management L.P.’s holdings in Republic Services were worth $77,157,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. FSA Wealth Management LLC bought a new position in shares of Republic Services during the 3rd quarter worth approximately $25,000. Arcadia Investment Management Corp MI boosted its holdings 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 valued at $27,000 after acquiring an additional 88 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Republic Services in the 4th quarter valued at $32,000. Truvestments Capital LLC purchased a new stake in Republic Services during the third quarter worth $34,000. Finally, Bank of Jackson Hole Trust purchased a new stake in Republic Services during the fourth quarter worth $48,000. Institutional investors own 57.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RSG. Morgan Stanley upped their price objective on shares of Republic Services from $220.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Royal Bank of Canada upgraded shares of Republic Services from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $219.00 to $237.00 in a research report on Monday, January 6th. Jefferies Financial Group increased their target price on shares of Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Truist Financial reaffirmed a “buy” rating and set a $250.00 target price (up previously from $244.00) on shares of Republic Services in a research note on Friday, February 14th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a “hold” rating to a “buy” rating and raised their price objective for the company from $219.00 to $237.00 in a research note on Tuesday, December 10th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Republic Services currently has an average rating of “Moderate Buy” and a consensus target price of $236.88.

Republic Services Stock Performance

RSG stock opened at $232.08 on Monday. The stock’s fifty day moving average is $221.95 and its two-hundred day moving average is $211.74. The stock has a market capitalization of $72.48 billion, a price-to-earnings ratio of 35.76, a PEG ratio of 3.64 and a beta of 0.73. Republic Services, Inc. has a 1 year low of $180.91 and a 1 year high of $240.95. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58.

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 analysts’ consensus estimates of $1.37 by $0.21. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The firm had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter last year, the business posted $1.41 EPS. On average, research analysts predict that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be issued a dividend of $0.58 per share. The ex-dividend date is Wednesday, April 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.00%. Republic Services’s dividend payout ratio is 35.75%.

Insider Activity

In related news, COO Gregg Brummer sold 6,293 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 10,416 shares in the company, valued at approximately $2,376,931.20. The trade was a 37.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is owned by corporate insiders.

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.