MCF Advisors LLC Reduces Stake in Republic Services, Inc. (NYSE:RSG)

MCF Advisors LLC lowered its stake in shares of Republic Services, Inc. (NYSE:RSG) by 43.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 176 shares of the business services provider’s stock after selling 138 shares during the period. MCF Advisors LLC’s holdings in Republic Services were worth $35,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. NorthCrest Asset Manangement LLC raised its stake in shares of Republic Services by 1.6% in the third quarter. NorthCrest Asset Manangement LLC now owns 41,771 shares of the business services provider’s stock valued at $8,389,000 after buying an additional 639 shares during the period. Forsta AP Fonden raised its stake in Republic Services by 14.7% in the 3rd quarter. Forsta AP Fonden now owns 50,000 shares of the business services provider’s stock valued at $10,042,000 after acquiring an additional 6,400 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Republic Services by 29.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,855 shares of the business services provider’s stock worth $2,563,000 after purchasing an additional 2,961 shares during the period. Parcion Private Wealth LLC increased its stake in shares of Republic Services by 3.6% in the third quarter. Parcion Private Wealth LLC now owns 24,271 shares of the business services provider’s stock worth $4,874,000 after purchasing an additional 844 shares in the last quarter. Finally, Trueblood Wealth Management LLC raised its position in shares of Republic Services by 2.3% in the third quarter. Trueblood Wealth Management LLC now owns 8,680 shares of the business services provider’s stock valued at $1,743,000 after purchasing an additional 197 shares during the period. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Stock Down 0.8 %

Shares of NYSE RSG opened at $199.83 on Friday. The stock has a market capitalization of $62.93 billion, a P/E ratio of 35.06, a PEG ratio of 3.27 and a beta of 0.69. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.59 and a quick ratio of 0.59. Republic Services, Inc. has a one year low of $145.32 and a one year high of $208.69. The firm’s 50 day simple moving average is $204.02 and its two-hundred day simple moving average is $196.40.

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

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Thursday, January 2nd. Republic Services’s dividend payout ratio (DPR) is presently 40.70%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Scotiabank initiated coverage on shares of Republic Services in a research note on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price objective for the company. Truist Financial upgraded Republic Services from a “hold” rating to a “buy” rating and boosted their price objective for the company from $192.00 to $220.00 in a research note on Thursday, July 11th. TD Cowen raised their target price on Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a research note on Monday, August 5th. Raymond James decreased their price target on Republic Services from $219.00 to $214.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Finally, Royal Bank of Canada boosted their price objective on shares of Republic Services from $201.00 to $211.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $212.18.

Insider Activity at Republic Services

In other news, Director Tomago Collins sold 3,200 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $203.01, for a total transaction of $649,632.00. Following the completion of the sale, the director now owns 17,486 shares of the company’s stock, valued at approximately $3,549,832.86. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is currently owned by company insiders.

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.