MGB Wealth Management LLC Sells 800 Shares of Republic Services, Inc. (NYSE:RSG)

MGB Wealth Management LLC cut its stake in shares of Republic Services, Inc. (NYSE:RSG) by 25.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,363 shares of the business services provider’s stock after selling 800 shares during the quarter. MGB Wealth Management LLC’s holdings in Republic Services were worth $475,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lifeworks Advisors LLC boosted its stake in Republic Services by 1,112.3% during the third quarter. Lifeworks Advisors LLC now owns 21,469 shares of the business services provider’s stock worth $4,312,000 after acquiring an additional 19,698 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Republic Services by 15.2% in the third quarter. Assenagon Asset Management S.A. now owns 5,663 shares of the business services provider’s stock valued at $1,137,000 after buying an additional 746 shares in the last quarter. PGGM Investments lifted its stake in shares of Republic Services by 264.3% in the second quarter. PGGM Investments now owns 8,842 shares of the business services provider’s stock valued at $1,718,000 after buying an additional 6,415 shares in the last quarter. YCG LLC lifted its stake in shares of Republic Services by 2.2% in the third quarter. YCG LLC now owns 208,232 shares of the business services provider’s stock valued at $41,821,000 after buying an additional 4,428 shares in the last quarter. Finally, AXA S.A. lifted its stake in shares of Republic Services by 1.8% in the second quarter. AXA S.A. now owns 640,563 shares of the business services provider’s stock valued at $124,487,000 after buying an additional 11,408 shares in the last quarter. 57.73% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of the company’s stock in a transaction 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 owns 6,318 shares of the company’s stock, valued at approximately $1,326,906.36. This represents a 44.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is owned by corporate insiders.

Republic Services Price Performance

Shares of NYSE:RSG opened at $216.79 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. Republic Services, Inc. has a 12 month low of $159.10 and a 12 month high of $216.86. The stock has a market cap of $67.89 billion, a P/E ratio of 34.69, a P/E/G ratio of 3.27 and a beta of 0.70. The company has a 50 day moving average of $204.56 and a 200 day moving average of $198.93.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates 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 previous year, the company earned $1.54 EPS. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Republic Services, Inc. will post 6.24 EPS for the current fiscal year.

Republic Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be paid a $0.58 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.07%. Republic Services’s dividend payout ratio (DPR) is 37.12%.

Wall Street Analysts Forecast Growth

RSG has been the topic of a number of recent research reports. Morgan Stanley raised their price objective on shares of Republic Services from $208.00 to $217.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Oppenheimer increased their target price on shares of Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Scotiabank assumed coverage on shares of Republic Services in a report on Friday, October 4th. They issued a “sector perform” rating and a $224.00 target price for the company. Truist Financial increased their target price on shares of Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, William Blair assumed coverage on shares of Republic Services in a report on Thursday, October 3rd. They issued an “outperform” rating for the company. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $215.71.

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.