MAI Capital Management Has $5.24 Million Position in Republic Services, Inc. (NYSE:RSG)

MAI Capital Management cut its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 9.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,098 shares of the business services provider's stock after selling 2,574 shares during the period. MAI Capital Management's holdings in Republic Services were worth $5,241,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in RSG. Capital World Investors lifted its position in Republic Services by 20.5% in the first quarter. Capital World Investors now owns 7,909,008 shares of the business services provider's stock worth $1,514,100,000 after purchasing an additional 1,346,588 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Republic Services by 2.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,520,738 shares of the business services provider's stock worth $506,265,000 after purchasing an additional 57,040 shares during the period. Legal & General Group Plc lifted its position in Republic Services by 5.4% in the second quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider's stock worth $351,480,000 after purchasing an additional 92,013 shares during the period. TD Asset Management Inc increased its holdings in shares of Republic Services by 2.1% in the second quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider's stock valued at $341,602,000 after buying an additional 35,650 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Republic Services by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 1,476,116 shares of the business services provider's stock valued at $286,868,000 after buying an additional 3,809 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Truist Financial upped 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. Oppenheimer boosted their target price on shares of Republic Services from $219.00 to $220.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. CIBC boosted their target price on shares of Republic Services from $208.00 to $217.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. StockNews.com downgraded shares of Republic Services from a "strong-buy" rating to a "buy" rating in a research note on Thursday, August 1st. Finally, Raymond James cut their target price on shares of Republic Services from $219.00 to $214.00 and set an "outperform" rating on the stock in a research note on Thursday, July 25th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $215.71.

Insider Activity

In other news, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the transaction, the chief financial officer now directly owns 6,318 shares of the company's stock, valued at $1,326,906.36. This trade represents a 44.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.09% of the stock is owned by insiders.

Republic Services Stock Performance

Shares of NYSE RSG traded up $1.71 during mid-day trading on Wednesday, hitting $212.62. The company had a trading volume of 990,586 shares, compared to its average volume of 1,120,168. Republic Services, Inc. has a 12 month low of $158.68 and a 12 month high of $216.18. 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 cap of $66.58 billion, a P/E ratio of 33.75, a PEG ratio of 3.18 and a beta of 0.70. The business's 50-day simple moving average is $204.01 and its 200-day simple moving average is $198.44.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $4.12 billion. During the same quarter in the prior year, the business posted $1.54 earnings per share. The company's quarterly revenue was up 6.5% compared to the same quarter last year. As a group, analysts predict that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services's payout ratio is 37.12%.

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.