OLD National Bancorp IN Sells 518 Shares of Republic Services, Inc. (NYSE:RSG)

OLD National Bancorp IN cut its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 11.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 4,085 shares of the business services provider’s stock after selling 518 shares during the period. OLD National Bancorp IN’s holdings in Republic Services were worth $822,000 at the end of the most recent quarter.

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

Insider Transactions at Republic Services

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total value of $1,065,011.42. Following the completion of the sale, the chief financial officer now owns 6,318 shares of the company’s stock, valued at approximately $1,326,906.36. The trade was a 44.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Katharine Weymouth sold 1,859 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $215.27, for a total transaction of $400,186.93. Following the transaction, the director now directly owns 879 shares in the company, valued at approximately $189,222.33. This represents a 67.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on RSG. Scotiabank started coverage on Republic Services in a report on Friday, October 4th. They set a “sector perform” rating and a $224.00 price objective for the company. CIBC lifted their price objective on shares of Republic Services from $217.00 to $227.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Truist Financial raised their target price on shares of Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Royal Bank of Canada raised shares of Republic Services from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $219.00 to $237.00 in a research report on Monday, January 6th. Finally, Oppenheimer raised their price objective on Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Republic Services currently has an average rating of “Moderate Buy” and a consensus target price of $222.24.

Republic Services Trading Down 0.7 %

RSG stock opened at $216.82 on Friday. The stock has a market cap of $67.90 billion, a price-to-earnings ratio of 34.69, a price-to-earnings-growth ratio of 3.11 and a beta of 0.73. The company has a fifty day moving average price of $209.77 and a two-hundred day moving average price of $205.59. Republic Services, Inc. has a one year low of $169.83 and a one year high of $220.58. 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 (NYSE:RSG) last announced its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.20. The business had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. Republic Services’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.54 EPS. Equities analysts anticipate that Republic Services, Inc. will post 6.25 EPS for the current year.

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.