Marks Group Wealth Management Inc Lowers Stake in Republic Services, Inc. $RSG

Marks Group Wealth Management Inc cut its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 22.2% during the first quarter, Holdings Channel.com reports. The fund owned 61,498 shares of the business services provider’s stock after selling 17,532 shares during the period. Republic Services comprises approximately 1.3% of Marks Group Wealth Management Inc’s holdings, making the stock its 11th biggest position. Marks Group Wealth Management Inc’s holdings in Republic Services were worth $13,469,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Wealth Watch Advisors INC purchased a new position in Republic Services during the third quarter worth approximately $26,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Republic Services in the fourth quarter valued at approximately $25,000. Prosperity Bancshares Inc acquired a new position in shares of Republic Services during the 4th quarter worth approximately $30,000. Sound Income Strategies LLC purchased a new position in shares of Republic Services during the 4th quarter valued at approximately $32,000. Finally, Hilton Head Capital Partners LLC acquired a new stake in Republic Services in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Price Performance

Republic Services stock opened at $217.16 on Thursday. The company has a fifty day simple moving average of $210.01 and a 200-day simple moving average of $214.56. The firm has a market capitalization of $66.81 billion, a price-to-earnings ratio of 31.16, a PEG ratio of 3.68 and a beta of 0.40. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. Republic Services, Inc. has a 52-week low of $196.41 and a 52-week high of $246.25.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.06. The firm had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.10 billion. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period last year, the firm posted $1.58 earnings per share. On average, equities analysts anticipate that Republic Services, Inc. will post 7.29 EPS for the current fiscal year.

Republic Services Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on RSG shares. Weiss Ratings cut shares of Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $249.00 target price on shares of Republic Services in a research report on Friday, May 8th. Citigroup upped their price target on shares of Republic Services from $247.00 to $259.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Wells Fargo & Company raised their price target on shares of Republic Services from $238.00 to $252.00 and gave the company an “overweight” rating in a research note on Wednesday, March 18th. Finally, Royal Bank Of Canada lifted their price objective on Republic Services from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Eleven research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $243.89.

Insider Activity at Republic Services

In related news, Director Sandra M. Volpe sold 1,800 shares of Republic Services stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $211.28, for a total transaction of $380,304.00. Following the transaction, the director owned 58 shares in the company, valued at approximately $12,254.24. This trade represents a 96.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Cascade Investment, L.L.C. acquired 366,000 shares of the stock in a transaction on Wednesday, May 13th. The shares were bought at an average cost of $202.24 per share, for a total transaction of $74,019,840.00. Following the purchase, the insider directly owned 110,315,982 shares of the company’s stock, valued at $22,310,304,199.68. The trade was a 0.33% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have bought 987,150 shares of company stock worth $202,366,682. Insiders own 0.12% of the company’s stock.

About Republic Services

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.