Marathon Wealth Advisors LLC Makes New $2.84 Million Investment in Republic Services, Inc. $RSG

Marathon Wealth Advisors LLC purchased a new position in shares of Republic Services, Inc. (NYSE:RSG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,548 shares of the business services provider’s stock, valued at approximately $2,843,000.

Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Republic Services during the second quarter valued at $3,798,092,000. State Street Corp increased its position in Republic Services by 1.6% during the 2nd quarter. State Street Corp now owns 9,953,507 shares of the business services provider’s stock worth $2,120,893,000 after purchasing an additional 160,051 shares in the last quarter. Bank of America Corp DE acquired a new position in Republic Services in the 2nd quarter valued at about $682,573,000. Pictet Asset Management Holding SA raised its stake in Republic Services by 14.0% in the 3rd quarter. Pictet Asset Management Holding SA now owns 2,814,825 shares of the business services provider’s stock valued at $590,761,000 after purchasing an additional 345,719 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Republic Services by 68.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,256,190 shares of the business services provider’s stock valued at $497,828,000 after purchasing an additional 913,249 shares during the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Stock Performance

NYSE:RSG opened at $247.43 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.14. The company has a market cap of $75.38 billion, a P/E ratio of 34.22, a P/E/G ratio of 4.10 and a beta of 0.32. Republic Services, Inc. has a fifty-two week low of $196.41 and a fifty-two week high of $254.39. The firm’s 50 day moving average is $225.95 and its two-hundred day moving average is $218.01.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Thursday, October 29th. The business services provider reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.01. Republic Services had a net margin of 12.93% and a return on equity of 18.56%. The company had revenue of $4.56 billion for the quarter, compared to analyst estimates of $4.42 billion. During the same quarter last year, the business earned $1.90 EPS. Republic Services’s revenue for the quarter was up 8.2% on a year-over-year basis. Analysts expect that Republic Services, Inc. will post 7.27 EPS for the current year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Monday, January 4th will be issued a $0.67 dividend. The ex-dividend date is Monday, January 4th. This represents a $2.68 dividend on an annualized basis and a yield of 1.1%. Republic Services’s dividend payout ratio (DPR) is presently 37.07%.

Insiders Place Their Bets

In other news, major shareholder Cascade Investment, L.L.C. purchased 409,500 shares of the stock in a transaction on Tuesday, September 8th. The stock was purchased at an average price of $221.49 per share, with a total value of $90,700,155.00. Following the completion of the transaction, the insider owned 116,166,330 shares in the company, valued at approximately $25,729,680,431.70. The trade was a 0.35% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders acquired a total of 5,578,298 shares of company stock valued at $1,234,519,081 in the last 90 days. 0.12% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on RSG shares. Oppenheimer reaffirmed an “outperform” rating on shares of Republic Services in a research note on Friday, October 30th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Republic Services from $270.00 to $258.00 in a research report on Friday, October 9th. Robert W. Baird upped their price objective on shares of Republic Services from $242.00 to $245.00 and gave the company a “neutral” rating in a research note on Thursday, October 22nd. Royal Bank Of Canada raised their target price on shares of Republic Services from $272.00 to $277.00 and gave the stock an “outperform” rating in a research report on Friday, October 30th. Finally, Raymond James Financial set a $235.00 target price on shares of Republic Services in a research report on Friday, October 9th. Twelve research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, Republic Services presently has an average rating of “Moderate Buy” and an average target price of $249.32.

About Republic Services

Republic Services, Inc. provides waste collection, recycling and environmental services to residential, commercial, industrial and municipal customers across the United States. Its services include collecting and transporting waste, operating transfer stations and landfills, and processing recyclable materials. The company also provides environmental solutions, including services for the management and disposal of hazardous and other specialized waste. Republic Services traces its origins to the 1990s and expanded its operations through the 2008 combination with Allied Waste Industries.