Doyle Wealth Management cut its equity position in Republic Services (NYSE:RSG – Get Rating) by 1.5% in the third quarter, according to its latest disclosure to the Securities and Exchange Commission (SEC). The institutional investor sold 2,040 of his shares during the quarter, after which he owned 137,188 shares of the business service provider. Republic Services represents approximately 1.6% of Doyle Wealth Management’s investment portfolio, making the stock his 16th largest position. The Republic Services assets held by Doyle Wealth Management were valued at $18,663,000 at the end of the most recent reporting period.
Several other large investors have also increased or decreased their stakes in the company. Asset Dedication LLC, in the third quarter he purchased a new position in Republic Services worth $25,000. Massmutual Trust Co. FSB ADV increased his holdings of Republic Services by 94.3% in the third quarter. Massmutual Trust Co. FSB ADV now owns 206 shares of business service provider stock valued at $28,000 after acquiring an additional 100 shares last quarter. Guardian Wealth Advisors LLC purchased a new position in Republic Services worth approximately $31,000 in the third quarter. Washington Trust Advisors Inc. purchased a new position in Republic Services worth approximately $35,000 in the third quarter. Finally, TCI Wealth Advisors Inc. increased its Republic Services holdings by 44.5% in the third quarter. TCI Wealth Advisors Inc. now owns 357 shares of business service provider stock valued at $49,000 after acquiring an additional 110 shares last quarter. Hedge funds and other institutional investors own 57.14% of the company’s shares.
Insider trading on Republic Services
In other news, director Jennifer M. Kirk acquired 1,000 shares of Republic Services stock in a transaction on Tuesday, February 21st. Shares were purchased at an average of $129.60 per share, with a total trading value of $129,600.00 for him. Following the completion of the acquisition, the directors now own 4,449 shares of the company, valued at $576,590.40. The acquisition is disclosed in documents filed with the Securities and Exchange Commission and can be accessed at this link. His 0.06% of the shares are owned by insiders.
Republic Service trade increased by 1.5%
RSG rose $1.89 to $129.87 on Thursday. The company had a trading volume of 486,796 shares and an average trading volume of 1,549,444 shares for him. The company has a market capitalization of $41.04 billion, a P/E ratio of 27.29, a PEG ratio of 2.70 and a beta of 0.65. Republic Services, Inc. has a one-year low of $119.72 and a one-year high of $149.17. The company has a 50-day moving average price of $126.53 and a 200-day moving average price of $133.26. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt to equity ratio of 1.17.
Republic Services (NYSE:RSG – Get Rating) last reported earnings on Wednesday, February 15th. The business services provider posted earnings per share of $1.13 for the quarter, beating consensus expectations of $1.02 by $0.11. Republic Services’ return on equity was 16.72% and net profit margin was 11.01%. The company’s revenue for the quarter was $3.53 billion, compared to consensus expectations of $3.46 billion. His EPS for the company in the same period last year was $1.02. Republic Services revenue increased by 19.5% compared to the same period last year. As a group, equity analysts expect Republic Services, Inc. to post earnings per share of 5.18 this year.
Republic Services Announces Dividend
The company recently announced a quarterly dividend payable on Friday, April 14th. Investors of record on Monday, April 3 will be paid a dividend of $0.495 per share. This represents his $1.98 dividend and his 1.52% yield on an annualized basis. The ex-dividend date is Friday, March 31. Republic Services has a payout percentage of 42.22%.
Analyst upgrades and downgrades
Several research firms have commented on RSG. The Royal Bank of Canada raised its price target on Republic Services shares from $131.00 to $134.00 in a research report on Thursday, Feb. 16, giving the company a ‘Sector Performing’ rating. BMO Capital Markets lowered its price target for Republic Services from $148.00 to $138.00 in a research report on Thursday, February 16, setting a “market execution” rating for the company. Robert W. Baird raised his stock price target for Republic Services from $136.00 to $142.00 and gave the company a “neutral” rating in a research report on Thursday, February 16. StockNews.com downgraded Republic Services stock from a “strong buy” rating to a “buy” rating in a report on Thursday, December 8. Finally, Deutsche Bank Aktiengesellschaft lowered its price target on Republic Services shares from $150.00 to $140.00 in its report on Monday, January 30. Four of his analysts have assigned a hold rating to this stock and seven have assigned a buy rating to it. According to MarketBeat data, Republic Services currently has an average rating of “moderate buy” with a consensus price target of $145.33.
Republic Service Profile
Republic Services, Inc is engaged in providing services to the domestic non-hazardous solid waste industry. We provide integrated waste management services that provide non-hazardous solid waste collection, transportation, recycling, disposal and energy services. The company operates through the following segments: Group 1, Group 2, and Corporate & Other.
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