Republic Services, Inc. (NYSE:RSG) Position Lessened by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. lowered its position in shares of Republic Services, Inc. (NYSE:RSG) by 71.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 8,593 shares of the business services provider’s stock after selling 21,816 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Republic Services were worth $1,670,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Republic Services by 0.6% during the first quarter. Vanguard Group Inc. now owns 18,254,878 shares of the business services provider’s stock valued at $3,494,714,000 after acquiring an additional 101,518 shares during the period. Capital World Investors increased its position in shares of Republic Services by 20.5% during the 1st quarter. Capital World Investors now owns 7,909,008 shares of the business services provider’s stock valued at $1,514,100,000 after purchasing an additional 1,346,588 shares during the period. Legal & General Group Plc raised its stake in shares of Republic Services by 5.4% in the 2nd quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider’s stock worth $351,480,000 after buying an additional 92,013 shares in the last quarter. TD Asset Management Inc boosted its stake in Republic Services by 2.1% during 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 grew its holdings in Republic Services by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 1,476,116 shares of the business services provider’s stock worth $286,868,000 after acquiring an additional 3,809 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Oppenheimer reduced their price objective on Republic Services from $211.00 to $210.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Royal Bank of Canada lifted their price target on Republic Services from $201.00 to $211.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. TD Cowen increased their price objective on Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a research note on Monday, August 5th. Robert W. Baird lifted their target price on Republic Services from $208.00 to $210.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Finally, BMO Capital Markets raised their price target on shares of Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $211.00.

Insider Buying and Selling

In other Republic Services news, Director Tomago Collins sold 3,200 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $203.01, for a total value of $649,632.00. Following the completion of the sale, the director now owns 17,486 shares in the company, valued at approximately $3,549,832.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is owned by corporate insiders.

Republic Services Trading Down 0.3 %

Shares of Republic Services stock opened at $200.09 on Thursday. Republic Services, Inc. has a 52-week low of $140.23 and a 52-week high of $208.69. The firm has a market capitalization of $62.84 billion, a PE ratio of 35.10, a price-to-earnings-growth ratio of 3.20 and a beta of 0.70. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.59 and a quick ratio of 0.59. The company’s fifty day moving average price is $202.09 and its two-hundred day moving average price is $194.72.

Republic Services (NYSE:RSG) last issued its earnings results on Wednesday, July 24th. The business services provider reported $1.61 EPS for the quarter, beating the consensus estimate of $1.53 by $0.08. The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.03 billion. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. On average, analysts expect that Republic Services, Inc. will post 6.18 EPS for the current year.

Republic Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be paid a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This is a positive change from Republic Services’s previous quarterly dividend of $0.54. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.16%. Republic Services’s dividend payout ratio (DPR) is 37.54%.

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.