Moran Wealth Management LLC Has $6.08 Million Stock Position in Republic Services, Inc. (NYSE:RSG)

Moran Wealth Management LLC boosted its stake in Republic Services, Inc. (NYSE:RSGFree Report) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,886 shares of the business services provider’s stock after purchasing an additional 892 shares during the quarter. Moran Wealth Management LLC’s holdings in Republic Services were worth $6,083,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of RSG. Mirae Asset Global Investments Co. Ltd. raised its stake in Republic Services by 26.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 89,153 shares of the business services provider’s stock valued at $12,705,000 after purchasing an additional 18,672 shares in the last quarter. Park Avenue Securities LLC acquired a new position in Republic Services in the third quarter valued at about $898,000. Assetmark Inc. raised its stake in Republic Services by 8.6% in the third quarter. Assetmark Inc. now owns 25,607 shares of the business services provider’s stock valued at $3,649,000 after purchasing an additional 2,035 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Republic Services by 0.5% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,084 shares of the business services provider’s stock worth $3,575,000 after acquiring an additional 118 shares in the last quarter. Finally, Choate Investment Advisors acquired a new position in Republic Services during the third quarter worth about $225,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on RSG. UBS Group boosted their target price on Republic Services from $195.00 to $200.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. The Goldman Sachs Group boosted their target price on Republic Services from $209.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Oppenheimer boosted their price target on Republic Services from $202.00 to $204.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Citigroup boosted their price target on Republic Services from $190.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Finally, Scotiabank boosted their price target on Republic Services from $211.00 to $213.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 1st. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $201.00.

Read Our Latest Stock Report on Republic Services

Republic Services Trading Down 0.2 %

RSG stock traded down $0.37 during trading on Wednesday, hitting $186.97. The company had a trading volume of 175,817 shares, compared to its average volume of 1,226,587. The business has a 50-day moving average of $188.51 and a 200-day moving average of $174.37. Republic Services, Inc. has a one year low of $140.07 and a one year high of $196.76. The stock has a market cap of $58.88 billion, a PE ratio of 32.91, a PEG ratio of 3.03 and a beta of 0.67. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.05.

Republic Services (NYSE:RSGGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The business services provider reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.10. Republic Services had a return on equity of 17.56% and a net margin of 11.81%. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same period in the previous year, the firm earned $1.24 earnings per share. The company’s revenue was up 7.8% compared to the same quarter last year. Research analysts predict that Republic Services, Inc. will post 6.05 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, July 2nd will be paid a $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 1.14%. The ex-dividend date is Tuesday, July 2nd. Republic Services’s dividend payout ratio (DPR) is presently 37.54%.

Insider Buying and Selling at Republic Services

In other news, CEO Ark Jon Vander sold 5,446 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the transaction, the chief executive officer now directly owns 85,113 shares of the company’s stock, valued at $15,669,303.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Ark Jon Vander sold 5,446 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the transaction, the chief executive officer now directly owns 85,113 shares of the company’s stock, valued at $15,669,303.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Amanda Hodges sold 6,500 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $186.02, for a total value of $1,209,130.00. Following the transaction, the chief marketing officer now directly owns 6,831 shares in the company, valued at $1,270,702.62. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Republic Services Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Republic Services (NYSE:RSG)

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