B. Riley Wealth Advisors Inc. Reduces Holdings in Republic Services, Inc. (NYSE:RSG)

B. Riley Wealth Advisors Inc. lowered its stake in shares of Republic Services, Inc. (NYSE:RSG) by 4.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,200 shares of the business services provider’s stock after selling 393 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Republic Services were worth $1,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of RSG. Simmons Bank raised its position in shares of 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 acquiring an additional 51 shares in the last quarter. Hantz Financial Services Inc. grew its stake in Republic Services by 1.0% in the third quarter. Hantz Financial Services Inc. now owns 5,099 shares of the business services provider’s stock worth $1,024,000 after purchasing an additional 52 shares during the period. Commerzbank Aktiengesellschaft FI lifted its position in Republic Services by 2.9% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,860 shares of the business services provider’s stock valued at $362,000 after buying an additional 53 shares during the period. Venturi Wealth Management LLC boosted its holdings in shares of Republic Services by 16.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 382 shares of the business services provider’s stock valued at $77,000 after buying an additional 54 shares in the last quarter. Finally, Fidelis Capital Partners LLC grew its position in shares of Republic Services by 3.8% in the 3rd quarter. Fidelis Capital Partners LLC now owns 1,520 shares of the business services provider’s stock worth $310,000 after buying an additional 55 shares during the period. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on RSG shares. Truist Financial boosted their price objective 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. Scotiabank began coverage on Republic Services in a research report on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised Republic Services from a “hold” rating to a “buy” rating and raised their price objective for the company from $219.00 to $237.00 in a research report on Tuesday, December 10th. BMO Capital Markets raised Republic Services from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $211.00 to $238.00 in a research note on Friday, December 6th. Finally, Morgan Stanley lifted their price target on Republic Services from $217.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $220.06.

Republic Services Stock Performance

Shares of RSG opened at $208.10 on Tuesday. Republic Services, Inc. has a one year low of $161.19 and a one year high of $220.58. The business has a fifty day moving average of $208.72 and a 200 day moving average of $202.17. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a market capitalization of $65.17 billion, a P/E ratio of 33.30, a PEG ratio of 3.30 and a beta of 0.71.

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, beating the consensus estimate of $1.61 by $0.20. The firm had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.54 EPS. As a group, sell-side analysts anticipate that Republic Services, Inc. will post 6.25 EPS for the current year.

Republic Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Thursday, January 2nd. Republic Services’s dividend payout ratio is presently 37.12%.

Insider Transactions at Republic Services

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the completion of the transaction, the chief financial officer now directly owns 6,318 shares in the company, valued at approximately $1,326,906.36. The trade was a 44.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Katharine Weymouth sold 1,859 shares of Republic Services stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $215.27, for a total transaction of $400,186.93. Following the transaction, the director now directly owns 879 shares in the company, valued at $189,222.33. This represents a 67.90 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

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.