Moran Wealth Management LLC Sells 627 Shares of Republic Services, Inc. (NYSE:RSG)

Moran Wealth Management LLC decreased its position in shares of Republic Services, Inc. (NYSE:RSG) by 0.7% during the 3rd quarter, HoldingsChannel.com reports. 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 reporting period.

Several other institutional investors have also added to or reduced their stakes in RSG. Wolff Wiese Magana LLC boosted its position in Republic Services by 351.6% in the third quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock valued at $28,000 after buying an additional 109 shares in the last quarter. EntryPoint Capital LLC bought a new position in Republic Services in the first quarter valued at about $29,000. Webster Bank N. A. acquired a new stake in shares of Republic Services during the third quarter valued at about $31,000. Itau Unibanco Holding S.A. acquired a new position in shares of Republic Services in the second quarter valued at approximately $36,000. Finally, Ashton Thomas Securities LLC bought a new position in Republic Services in the 3rd quarter valued at approximately $39,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on RSG. William Blair initiated coverage on shares of Republic Services in a research report on Thursday, October 3rd. They issued an “outperform” rating for the company. Raymond James reduced their price objective on shares of Republic Services from $219.00 to $214.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Robert W. Baird increased their price target on Republic Services from $208.00 to $210.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. CIBC lifted their price target 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. Finally, Stifel Nicolaus increased their price target on Republic Services from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $215.71.

Republic Services Trading Down 0.5 %

RSG stock traded down $0.96 during trading on Wednesday, reaching $209.95. The company had a trading volume of 49,495 shares, compared to its average volume of 1,115,986. The business has a 50 day moving average of $204.01 and a 200 day moving average of $198.44. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64. The company 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. Republic Services, Inc. has a 52 week low of $158.68 and a 52 week high of $216.18.

Republic Services (NYSE:RSG) last released its quarterly earnings results 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 company had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.54 earnings per share. As a group, sell-side analysts forecast that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 1.11%. The ex-dividend date is Thursday, January 2nd. Republic Services’s dividend payout ratio (DPR) is 37.12%.

Insider Activity

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services stock in a transaction that occurred on 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 directly owns 6,318 shares in the company, valued at $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 is available through this link. Corporate insiders own 0.09% of the company’s stock.

Republic Services Company 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.