Axxcess Wealth Management LLC Reduces Stock Position in Republic Services, Inc. (NYSE:RSG)

Axxcess Wealth Management LLC cut its stake in Republic Services, Inc. (NYSE:RSG) by 7.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,489 shares of the business services provider’s stock after selling 558 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Republic Services were worth $1,303,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RSG. Sigma Planning Corp increased its position in shares of Republic Services by 34.9% during the third quarter. Sigma Planning Corp now owns 5,270 shares of the business services provider’s stock valued at $1,058,000 after buying an additional 1,364 shares during the period. Mesirow Financial Investment Management Inc. bought a new stake in Republic Services during the 3rd quarter worth approximately $273,000. Atria Investments Inc lifted its stake in Republic Services by 7.8% in the 3rd quarter. Atria Investments Inc now owns 12,179 shares of the business services provider’s stock worth $2,446,000 after purchasing an additional 881 shares in the last quarter. Assetmark Inc. boosted its holdings in Republic Services by 8.2% in the 3rd quarter. Assetmark Inc. now owns 18,319 shares of the business services provider’s stock valued at $3,679,000 after purchasing an additional 1,394 shares during the period. Finally, Villere ST Denis J & Co. LLC increased its holdings in shares of Republic Services by 1.5% in the third quarter. Villere ST Denis J & Co. LLC now owns 63,882 shares of the business services provider’s stock worth $12,830,000 after purchasing an additional 960 shares during the period. 57.73% of the stock is currently owned by institutional investors.

Republic Services Stock Performance

Shares of RSG stock opened at $211.82 on Tuesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64. Republic Services, Inc. has a fifty-two week low of $156.83 and a fifty-two week high of $214.96. The company has a market capitalization of $66.33 billion, a P/E ratio of 34.21, a PEG ratio of 3.24 and a beta of 0.70. The stock has a 50 day moving average price of $203.32 and a two-hundred day moving average price of $197.40.

Republic Services (NYSE:RSG) last announced 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. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The business had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter in the prior year, the company posted $1.54 EPS. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. Analysts expect that Republic Services, Inc. will post 6.24 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a dividend of $0.58 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 1.10%. Republic Services’s dividend payout ratio is presently 37.12%.

Insider Buying and Selling at Republic Services

In related news, Director Tomago Collins sold 3,200 shares of Republic Services stock in a transaction on Friday, August 16th. The shares were sold at an average price of $203.01, for a total value of $649,632.00. Following the sale, the director now owns 17,486 shares in the company, valued at $3,549,832.86. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.09% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on RSG shares. StockNews.com cut Republic Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Morgan Stanley upped their price objective on shares of Republic Services from $208.00 to $217.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Scotiabank began coverage on shares of Republic Services in a research report on Friday, October 4th. They set a “sector perform” rating and a $224.00 target price for the company. CIBC increased their price target on shares of Republic Services from $208.00 to $217.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Raymond James dropped their price objective on shares of Republic Services from $219.00 to $214.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $215.71.

Republic Services 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.