Moran Wealth Management LLC Sells 6,208 Shares of Republic Services, Inc. $RSG

Key Points

• Moran Wealth Management trimmed its Republic Services position by 6.0% in Q1, selling 6,208 shares and leaving it with 98,086 shares worth about $21.48 million.
• Republic Services reported strong quarterly results, posting EPS of $1.70 versus $1.64 expected and revenue of $4.11 billion, slightly ahead of estimates.
• The company also raised shareholder returns with a quarterly dividend of $0.625 per share, while analysts remain mixed overall with a consensus Moderate Buy rating and average target price of $243.26.

Moran Wealth Management LLC cut its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 6.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 98,086 shares of the business services provider's stock after selling 6,208 shares during the period. Moran Wealth Management LLC's holdings in Republic Services were worth $21,483,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in RSG. Brighton Jones LLC increased its position in Republic Services by 75.8% during the 4th quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider's stock valued at $3,988,000 after purchasing an additional 8,547 shares during the period. Federated Hermes Inc. lifted its position in shares of Republic Services by 23.2% in the 2nd quarter. Federated Hermes Inc. now owns 17,553 shares of the business services provider's stock worth $4,329,000 after purchasing an additional 3,303 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Republic Services by 3.6% during the second quarter. NewEdge Advisors LLC now owns 29,690 shares of the business services provider's stock valued at $7,322,000 after purchasing an additional 1,044 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in shares of Republic Services by 0.7% during the second quarter. Treasurer of the State of North Carolina now owns 94,626 shares of the business services provider's stock valued at $23,336,000 after purchasing an additional 688 shares in the last quarter. Finally, Ieq Capital LLC increased its holdings in Republic Services by 68.4% during the second quarter. Ieq Capital LLC now owns 11,643 shares of the business services provider's stock valued at $2,871,000 after buying an additional 4,729 shares during the period. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Republic Services

In other Republic Services news, Director Sandra M. Volpe sold 1,800 shares of the firm's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $211.28, for a total value of $380,304.00. Following the completion of the transaction, the director owned 58 shares of the company's stock, valued at approximately $12,254.24. This trade represents a 96.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Cascade Investment, L.L.C. acquired 60,700 shares of the company's stock in a transaction dated Monday, May 18th. The shares were bought at an average cost of $213.31 per share, for a total transaction of $12,947,917.00. Following the completion of the acquisition, the insider directly owned 110,803,982 shares of the company's stock, valued at approximately $23,635,597,400.42. The trade was a 0.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have acquired 987,150 shares of company stock worth $202,366,682. 0.12% of the stock is owned by insiders.

Republic Services Stock Performance

Shares of RSG opened at $217.27 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11. The firm 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. Republic Services, Inc. has a 12 month low of $196.41 and a 12 month high of $246.25. The stock has a fifty day moving average price of $208.07 and a 200-day moving average price of $214.23.

Republic Services (NYSE:RSG - Get Free Report) last announced its earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.06. The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.10 billion. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The firm's quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.58 EPS. Equities research analysts predict that Republic Services, Inc. will post 7.28 earnings per share for the current fiscal year.

Republic Services Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on RSG. JPMorgan Chase & Co. increased their target price on Republic Services from $233.00 to $245.00 and gave the company a "neutral" rating in a research report on Friday, April 10th. Barclays boosted their price target on Republic Services from $227.00 to $233.00 and gave the stock an "equal weight" rating in a research report on Monday, May 11th. Robert W. Baird dropped their price objective on Republic Services from $242.00 to $240.00 and set a "neutral" rating on the stock in a research report on Thursday, April 16th. Citigroup cut their target price on Republic Services from $253.00 to $247.00 and set a "buy" rating on the stock in a research note on Tuesday, May 12th. Finally, Wolfe Research assumed coverage on shares of Republic Services in a report on Friday, March 13th. They issued a "peer perform" rating for the company. Eleven research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Republic Services has an average rating of "Moderate Buy" and an average target price 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.

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