Executive Wealth Management LLC Makes New $9.37 Million Investment in Republic Services, Inc. (NYSE:RSG)

Executive Wealth Management LLC acquired a new position in Republic Services, Inc. (NYSE:RSG - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 46,637 shares of the business services provider's stock, valued at approximately $9,367,000.

Several other large investors have also modified their holdings of RSG. Sequoia Financial Advisors LLC grew its position in Republic Services by 2.1% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 3,229 shares of the business services provider's stock valued at $627,000 after acquiring an additional 67 shares during the last quarter. Wedmont Private Capital increased its stake in Republic Services by 12.0% in the 2nd quarter. Wedmont Private Capital now owns 2,189 shares of the business services provider's stock worth $438,000 after buying an additional 234 shares during the period. Diversified Trust Co bought a new stake in Republic Services during the 2nd quarter valued at about $258,000. PGGM Investments boosted its position in Republic Services by 264.3% in the 2nd 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 during the period. Finally, Envestnet Portfolio Solutions Inc. increased its position in shares of Republic Services by 2.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 58,685 shares of the business services provider's stock worth $11,405,000 after acquiring an additional 1,224 shares during the period. Hedge funds and other institutional investors own 57.73% of the company's stock.

Republic Services Stock Performance

Republic Services stock traded down $0.71 during midday trading on Tuesday, hitting $211.63. 651,683 shares of the company were exchanged, compared to its average volume of 1,113,578. Republic Services, Inc. has a fifty-two week low of $160.65 and a fifty-two week high of $220.58. The firm has a market capitalization of $66.27 billion, a PE ratio of 33.87, a price-to-earnings-growth ratio of 3.31 and a beta of 0.71. The business has a fifty day simple moving average of $207.79 and a two-hundred day simple moving average of $201.26. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64.

Republic Services (NYSE:RSG - Get Free Report) last posted its earnings results 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. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The firm had revenue of $4.08 billion during the quarter, compared to analysts' expectations of $4.12 billion. During the same period in the previous year, the business posted $1.54 EPS. The business's revenue was up 6.5% compared to the same quarter last year. On average, sell-side analysts forecast that Republic Services, Inc. will post 6.24 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a $0.58 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 1.10%. Republic Services's payout ratio is 37.12%.

Insiders Place Their Bets

In other Republic Services news, Director Katharine Weymouth sold 1,859 shares of Republic Services stock in a transaction 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 sale, the director now owns 879 shares of the company's stock, valued at $189,222.33. The trade was a 67.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the firm's stock in a transaction dated 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. This represents a 44.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RSG. William Blair assumed coverage on Republic Services in a research note on Thursday, October 3rd. They issued an "outperform" rating on the stock. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a "hold" rating to a "buy" rating and raised their price target for the company from $219.00 to $237.00 in a research note on Tuesday. Oppenheimer upped their price objective on shares of Republic Services from $219.00 to $220.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Truist Financial lifted their price target on Republic Services from $220.00 to $244.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Finally, Morgan Stanley increased their target price 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. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Republic Services presently has an average rating of "Moderate Buy" and a consensus price target of $219.88.

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.