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

MGB Wealth Management LLC cut its stake in Republic Services, Inc. (NYSE:RSG) by 25.3% in the 3rd quarter, Holdings Channel reports. The firm owned 2,363 shares of the business services provider’s stock after selling 800 shares during the period. MGB Wealth Management LLC’s holdings in Republic Services were worth $475,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Simmons Bank raised its holdings in Republic Services by 2.8% in the 3rd quarter. Simmons Bank now owns 1,895 shares of the business services provider’s stock worth $381,000 after purchasing an additional 51 shares in the last quarter. RFG Advisory LLC increased its stake in shares of Republic Services by 0.5% in the 2nd quarter. RFG Advisory LLC now owns 10,603 shares of the business services provider’s stock worth $2,061,000 after acquiring an additional 53 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in shares of Republic Services by 2.9% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 1,860 shares of the business services provider’s stock worth $362,000 after acquiring an additional 53 shares in the last quarter. Venturi Wealth Management LLC increased its stake in shares of Republic Services by 16.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 382 shares of the business services provider’s stock worth $77,000 after acquiring an additional 54 shares in the last quarter. Finally, Hexagon Capital Partners LLC increased its stake in shares of Republic Services by 4.0% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,433 shares of the business services provider’s stock worth $278,000 after acquiring an additional 55 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors.

Republic Services Price Performance

NYSE RSG opened at $216.79 on Friday. 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 price-to-earnings ratio of 34.69, a PEG ratio of 3.27 and a beta of 0.70. The company’s 50 day moving average is $204.56 and its two-hundred day moving average is $198.93. 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 (NYSE:RSG) last released its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.20. The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.54 earnings per share. As a group, research analysts anticipate that Republic Services, Inc. will post 6.24 earnings per share for the current year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Thursday, January 2nd. Republic Services’s payout ratio is currently 37.12%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RSG. Truist Financial increased their price target on shares of Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. TD Cowen increased their price objective on shares of Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Morgan Stanley increased 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 report on Wednesday, October 30th. Royal Bank of Canada increased their price objective on shares of Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer increased their price objective on shares of Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Nine 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 an average rating of “Moderate Buy” and a consensus price target of $215.71.

Insider Activity

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the firm’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 transaction, the chief financial officer now directly owns 6,318 shares of the company’s stock, valued at approximately $1,326,906.36. This trade represents a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.09% of the company’s stock.

About Republic Services

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.