Republic Services, Inc. (NYSE:RSG) Holdings Trimmed by Moran Wealth Management LLC

Moran Wealth Management LLC cut its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 0.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 86,601 shares of the business services provider’s stock after selling 627 shares during the period. Moran Wealth Management LLC’s holdings in Republic Services were worth $17,393,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Capital World Investors raised its holdings in Republic Services by 20.5% during the 1st quarter. Capital World Investors now owns 7,909,008 shares of the business services provider’s stock worth $1,514,100,000 after buying an additional 1,346,588 shares during the period. International Assets Investment Management LLC lifted its position in shares of Republic Services by 83,671.9% in the 3rd quarter. International Assets Investment Management LLC now owns 538,653 shares of the business services provider’s stock valued at $108,183,000 after acquiring an additional 538,010 shares in the last quarter. Earnest Partners LLC grew its position in Republic Services by 16.9% during the 1st quarter. Earnest Partners LLC now owns 1,262,519 shares of the business services provider’s stock worth $241,697,000 after purchasing an additional 182,645 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Republic Services by 1,946.2% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 136,279 shares of the business services provider’s stock valued at $26,484,000 after purchasing an additional 129,619 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Republic Services by 44.3% in the first quarter. Canada Pension Plan Investment Board now owns 396,681 shares of the business services provider’s stock valued at $75,941,000 after purchasing an additional 121,781 shares in the last quarter. 57.73% of the stock is owned by institutional investors.

Republic Services Trading Down 0.5 %

Shares of NYSE:RSG traded down $0.96 during trading on Wednesday, hitting $209.95. 49,495 shares of the company’s stock were exchanged, compared to its average volume of 1,115,986. Republic Services, Inc. has a 1-year low of $158.68 and a 1-year high of $216.18. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. The firm has a market cap of $65.75 billion, a P/E ratio of 33.75, a PEG ratio of 3.18 and a beta of 0.70. The firm has a 50-day moving average price of $204.01 and a two-hundred day moving average price of $198.44.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.20. The business had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. Republic Services’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.54 EPS. Equities analysts predict that Republic Services, Inc. will post 6.24 earnings per share for the current year.

Republic Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s dividend payout ratio (DPR) is currently 37.12%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Robert W. Baird upped their price target on Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Raymond James reduced their price target 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. CIBC boosted their price objective on shares of Republic Services from $208.00 to $217.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Truist Financial increased their target price on shares of Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, TD Cowen boosted their price target on shares of Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a report on Monday, August 5th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Republic Services presently has a consensus rating of “Moderate Buy” and an average price target of $215.71.

Insider Activity at Republic Services

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the 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 transaction, the chief financial officer now directly owns 6,318 shares of the company’s stock, valued at $1,326,906.36. This represents a 44.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is owned by 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.