Marks Group Wealth Management Inc Reduces Position in Republic Services, Inc. (NYSE:RSG)

Marks Group Wealth Management Inc cut its stake in Republic Services, Inc. (NYSE:RSG) by 0.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 78,614 shares of the business services provider’s stock after selling 700 shares during the quarter. Republic Services accounts for about 1.6% of Marks Group Wealth Management Inc’s portfolio, making the stock its 5th biggest position. Marks Group Wealth Management Inc’s holdings in Republic Services were worth $15,816,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Republic Services by 37.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,682 shares of the business services provider’s stock worth $3,586,000 after buying an additional 4,827 shares in the last quarter. TCW Group Inc. lifted its holdings in Republic Services by 13.0% during the third quarter. TCW Group Inc. now owns 114,582 shares of the business services provider’s stock worth $23,013,000 after acquiring an additional 13,138 shares during the period. Avanza Fonder AB purchased a new position in Republic Services in the fourth quarter worth $4,430,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Republic Services in the 3rd quarter valued at $6,102,000. Finally, Lifeworks Advisors LLC increased its position in shares of Republic Services by 1,112.3% during the 3rd quarter. Lifeworks Advisors LLC now owns 21,469 shares of the business services provider’s stock valued at $4,312,000 after purchasing an additional 19,698 shares during the last quarter. Institutional investors own 57.73% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was 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 in the company, valued at $1,326,906.36. The trade was a 44.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Katharine Weymouth sold 1,859 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $215.27, for a total transaction of $400,186.93. Following the transaction, the director now owns 879 shares in the company, valued at $189,222.33. The trade was 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

Several research firms recently weighed in on RSG. Royal Bank of Canada upgraded shares of Republic Services from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $219.00 to $237.00 in a research report on Monday, January 6th. Morgan Stanley raised their price target on shares of Republic Services from $217.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Truist Financial lifted their price target on shares of Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. BMO Capital Markets raised Republic Services from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $211.00 to $238.00 in a research report on Friday, December 6th. Finally, Jefferies Financial Group upped their price target on Republic Services from $235.00 to $244.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $224.38.

Republic Services Price Performance

Republic Services stock opened at $223.20 on Wednesday. The business has a 50-day simple moving average of $210.15 and a 200 day simple moving average of $206.59. Republic Services, Inc. has a 52 week low of $171.06 and a 52 week high of $223.43. The stock has a market cap of $69.89 billion, a price-to-earnings ratio of 35.71, a PEG ratio of 3.24 and a beta of 0.74. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07.

Republic Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services’s dividend payout ratio is currently 37.12%.

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.