Republic Services, Inc. $RSG Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC reduced its stake in shares of Republic Services, Inc. (NYSE:RSG) by 6.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 98,086 shares of the business services provider’s stock after selling 6,208 shares during the quarter. Moran Wealth Management LLC’s holdings in Republic Services were worth $21,483,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. State Street Corp raised its position in Republic Services by 1.7% during the fourth quarter. State Street Corp now owns 9,695,747 shares of the business services provider’s stock valued at $2,054,820,000 after acquiring an additional 166,474 shares in the last quarter. Capital World Investors boosted its position in Republic Services by 27.7% in the 4th quarter. Capital World Investors now owns 8,765,623 shares of the business services provider’s stock worth $1,857,698,000 after purchasing an additional 1,899,183 shares in the last quarter. Morgan Stanley grew its stake in shares of Republic Services by 38.6% during the 4th quarter. Morgan Stanley now owns 5,348,501 shares of the business services provider’s stock worth $1,133,509,000 after purchasing an additional 1,490,719 shares during the period. Wellington Management Group LLP increased its holdings in shares of Republic Services by 18.9% during the 4th quarter. Wellington Management Group LLP now owns 5,070,130 shares of the business services provider’s stock valued at $1,074,513,000 after purchasing an additional 807,525 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Republic Services in the 4th quarter valued at $617,165,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Stock Down 0.0%

Shares of NYSE RSG opened at $217.27 on Friday. The stock has a market cap of $66.85 billion, a PE ratio of 31.17, a P/E/G ratio of 3.58 and a beta of 0.40. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11. Republic Services, Inc. has a 12-month low of $196.41 and a 12-month high of $246.25. The company has a 50-day moving average of $208.07 and a 200 day moving average of $214.23.

Republic Services (NYSE:RSG) last issued its earnings results on Friday, May 8th. The business services provider reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.06. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.10 billion. During the same period in the previous year, the firm earned $1.58 earnings per share. Republic Services’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, sell-side analysts predict that Republic Services, Inc. will post 7.28 EPS for the current fiscal year.

Republic Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd will be issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Thursday, July 2nd. Republic Services’s dividend payout ratio (DPR) is 35.87%.

Insider Activity

In other Republic Services news, major shareholder Cascade Investment, L.L.C. acquired 366,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was purchased at an average price of $202.24 per share, for a total transaction of $74,019,840.00. Following the completion of the acquisition, the insider owned 110,315,982 shares of the company’s stock, valued at approximately $22,310,304,199.68. This trade represents a 0.33% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sandra M. Volpe sold 1,800 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $211.28, for a total transaction of $380,304.00. Following the completion of the transaction, the director directly owned 58 shares of the company’s stock, valued at $12,254.24. This represents a 96.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders acquired 987,150 shares of company stock valued at $202,366,682. 0.12% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on RSG shares. JPMorgan Chase & Co. upped their price objective on shares of Republic Services from $233.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, April 10th. Weiss Ratings cut Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Barclays upped their price target on Republic Services from $227.00 to $233.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Wells Fargo & Company increased their price target on Republic Services from $238.00 to $252.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 18th. Finally, Citigroup dropped their price objective on Republic Services from $253.00 to $247.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Eleven analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $243.26.

Republic Services Company Profile

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.