Wealthspire Advisors LLC Acquires 3,555 Shares of Republic Services, Inc. $RSG

Wealthspire Advisors LLC raised its holdings in Republic Services, Inc. (NYSE:RSG) by 354.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,558 shares of the business services provider’s stock after acquiring an additional 3,555 shares during the period. Wealthspire Advisors LLC’s holdings in Republic Services were worth $1,124,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Ignite Planners LLC grew its position in Republic Services by 2.8% during the 2nd quarter. Ignite Planners LLC now owns 1,562 shares of the business services provider’s stock worth $376,000 after acquiring an additional 43 shares during the last quarter. Gries Financial LLC grew its holdings in shares of Republic Services by 3.8% during the second quarter. Gries Financial LLC now owns 1,249 shares of the business services provider’s stock worth $308,000 after purchasing an additional 46 shares during the last quarter. TD Private Client Wealth LLC increased its stake in shares of Republic Services by 17.8% in the second quarter. TD Private Client Wealth LLC now owns 305 shares of the business services provider’s stock valued at $75,000 after buying an additional 46 shares during the period. Hemington Wealth Management boosted its position in Republic Services by 6.2% during the 1st quarter. Hemington Wealth Management now owns 806 shares of the business services provider’s stock worth $195,000 after buying an additional 47 shares during the period. Finally, McGlone Suttner Wealth Management Inc. increased its position in Republic Services by 2.1% in the 2nd quarter. McGlone Suttner Wealth Management Inc. now owns 2,387 shares of the business services provider’s stock valued at $589,000 after acquiring an additional 48 shares during the period. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Stock Performance

Shares of RSG stock opened at $218.57 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. The firm has a fifty day simple moving average of $219.07 and a two-hundred day simple moving average of $234.21. Republic Services, Inc. has a 12 month low of $199.43 and a 12 month high of $258.75. The firm has a market capitalization of $67.66 billion, a PE ratio of 32.33, a price-to-earnings-growth ratio of 3.40 and a beta of 0.57.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Friday, October 31st. The business services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.12. The business had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.25 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.81 EPS. Analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Friday, January 2nd will be paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, January 2nd. Republic Services’s payout ratio is presently 37.20%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on RSG shares. Scotiabank cut their price target on shares of Republic Services from $250.00 to $246.00 and set a “sector perform” rating on the stock in a report on Friday, October 31st. National Bankshares decreased their price target on Republic Services from $270.00 to $241.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 7th. Wells Fargo & Company started coverage on Republic Services in a report on Thursday, November 13th. They issued an “overweight” rating and a $238.00 target price on the stock. Citigroup lowered their price target on shares of Republic Services from $280.00 to $270.00 and set a “buy” rating for the company in a report on Wednesday, September 17th. Finally, UBS Group reduced their price objective on shares of Republic Services from $260.00 to $240.00 and set a “neutral” rating on the stock in a research note on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $250.91.

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.