Moran Wealth Management LLC Cuts Holdings in Republic Services, Inc. (NYSE:RSG)

Moran Wealth Management LLC cut its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 1.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 86,133 shares of the business services provider's stock after selling 1,115 shares during the quarter. Moran Wealth Management LLC's holdings in Republic Services were worth $20,858,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Versant Capital Management Inc lifted its stake in Republic Services by 0.4% in the 1st quarter. Versant Capital Management Inc now owns 9,973 shares of the business services provider's stock valued at $2,415,000 after purchasing an additional 44 shares during the last quarter. Silvercrest Asset Management Group LLC raised its position in Republic Services by 0.5% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 8,648 shares of the business services provider's stock worth $1,740,000 after purchasing an additional 46 shares during the last quarter. Elevation Point Wealth Partners LLC boosted its holdings in Republic Services by 4.2% in the first quarter. Elevation Point Wealth Partners LLC now owns 1,154 shares of the business services provider's stock valued at $279,000 after acquiring an additional 46 shares during the last quarter. FORA Capital LLC increased its position in shares of Republic Services by 0.7% during the fourth quarter. FORA Capital LLC now owns 7,659 shares of the business services provider's stock worth $1,541,000 after buying an additional 50 shares during the period. Finally, Rothschild Investment LLC boosted its position in Republic Services by 9.3% during the first quarter. Rothschild Investment LLC now owns 599 shares of the business services provider's stock valued at $145,000 after acquiring an additional 51 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RSG. Scotiabank increased their target price on shares of Republic Services from $233.00 to $250.00 and gave the stock a "sector perform" rating in a research note on Tuesday, April 8th. JPMorgan Chase & Co. boosted their target price on Republic Services from $229.00 to $275.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. CIBC upgraded shares of Republic Services from a "neutral" rating to a "sector outperform" rating and set a $264.00 price objective on the stock in a report on Tuesday, March 4th. Truist Financial lifted their price objective on shares of Republic Services from $250.00 to $270.00 and gave the company a "buy" rating in a report on Tuesday, April 22nd. Finally, National Bank Financial raised shares of Republic Services to a "hold" rating in a research report on Monday, May 26th. Ten research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $252.68.

Republic Services Stock Performance

Shares of RSG stock traded up $0.07 during trading on Tuesday, reaching $250.75. 1,622,889 shares of the company's stock traded hands, compared to its average volume of 1,256,443. Republic Services, Inc. has a 1 year low of $188.82 and a 1 year high of $258.75. The company has a market capitalization of $78.36 billion, a P/E ratio of 37.82, a PEG ratio of 3.80 and a beta of 0.63. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.10. The firm's 50-day moving average is $248.71 and its 200 day moving average is $231.49.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.05. The company had revenue of $4.01 billion during the quarter, compared to analysts' expectations of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.88%. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.45 earnings per share. Equities research analysts expect that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 2nd will be paid a $0.58 dividend. The ex-dividend date is Wednesday, July 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 0.93%. Republic Services's dividend payout ratio is currently 34.99%.

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.