Miracle Mile Advisors LLC Raises Position in Republic Services, Inc. (NYSE:RSG)

Miracle Mile Advisors LLC raised its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 104.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,971 shares of the business services provider’s stock after buying an additional 1,518 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Republic Services were worth $598,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Federated Hermes Inc. grew its holdings in shares of Republic Services by 23.5% during the second quarter. Federated Hermes Inc. now owns 12,594 shares of the business services provider’s stock worth $2,448,000 after purchasing an additional 2,393 shares in the last quarter. Thoroughbred Financial Services LLC bought a new stake in Republic Services during the second quarter valued at approximately $277,000. Citizens Financial Group Inc. RI bought a new position in shares of Republic Services in the 2nd quarter worth $1,681,000. Moors & Cabot Inc. raised its position in shares of Republic Services by 23.3% during the 2nd quarter. Moors & Cabot Inc. now owns 6,576 shares of the business services provider’s stock valued at $1,278,000 after buying an additional 1,241 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Republic Services during the 2nd quarter worth $1,705,000. 57.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on RSG shares. Royal Bank of Canada raised Republic Services from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $219.00 to $237.00 in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft raised Republic Services from a “hold” rating to a “buy” rating and raised their price objective for the company from $219.00 to $237.00 in a report on Tuesday, December 10th. Scotiabank started coverage on shares of Republic Services in a research report on Friday, October 4th. They set a “sector perform” rating and a $224.00 price target on the stock. Morgan Stanley boosted their price objective on shares of Republic Services from $217.00 to $220.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Finally, William Blair started coverage on shares of Republic Services in a report on Thursday, October 3rd. They set an “outperform” rating on the stock. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $221.12.

Insider Transactions at Republic Services

In other Republic Services news, Director Katharine Weymouth sold 1,859 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $215.27, for a total transaction of $400,186.93. Following the completion of the transaction, the director now owns 879 shares of the company’s stock, valued at approximately $189,222.33. This trade represents a 67.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total value of $1,065,011.42. Following the completion of the sale, the chief financial officer now directly owns 6,318 shares in the company, valued at approximately $1,326,906.36. This represents a 44.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Republic Services Price Performance

RSG opened at $209.66 on Thursday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a market capitalization of $65.66 billion, a PE ratio of 33.55, a price-to-earnings-growth ratio of 3.30 and a beta of 0.73. The stock’s 50 day moving average price is $209.10 and its 200-day moving average price is $204.20. Republic Services, Inc. has a 52-week low of $165.06 and a 52-week high of $220.58.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.61 by $0.20. The business had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.54 EPS. On average, equities research analysts predict that Republic Services, Inc. will post 6.25 EPS for the current year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were issued a dividend of $0.58 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.11%. Republic Services’s dividend payout ratio (DPR) is 37.12%.

Republic Services Company 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.