Wealth Enhancement Advisory Services LLC Sells 7,344 Shares of Republic Services, Inc. (NYSE:RSG)

Wealth Enhancement Advisory Services LLC trimmed its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 2.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 294,118 shares of the business services provider’s stock after selling 7,344 shares during the period. Wealth Enhancement Advisory Services LLC owned about 0.09% of Republic Services worth $57,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. YHB Investment Advisors Inc. purchased a new position in Republic Services during the first quarter valued at approximately $29,000. EntryPoint Capital LLC bought a new position in shares of Republic Services in the 1st quarter worth $29,000. Bogart Wealth LLC purchased a new position in Republic Services in the fourth quarter valued at about $30,000. Jones Financial Companies Lllp boosted its position in shares of Republic Services by 3,014.3% in the 4th quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider’s stock worth $36,000 after purchasing an additional 211 shares in the last quarter. Finally, Indiana Trust & Investment Management CO purchased a new stake in Republic Services during the 2nd quarter worth approximately $45,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on RSG shares. Oppenheimer dropped their price objective on shares of Republic Services from $211.00 to $210.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. CIBC increased their price target on shares of Republic Services from $196.00 to $208.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. The Goldman Sachs Group upped their price objective on shares of Republic Services from $209.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Royal Bank of Canada boosted their target price on shares of Republic Services from $201.00 to $211.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Finally, BMO Capital Markets upped their target price on Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $211.00.

Insider Activity at Republic Services

In related news, Director Katharine Weymouth purchased 540 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was bought at an average price of $185.26 per share, with a total value of $100,040.40. Following the completion of the transaction, the director now owns 540 shares of the company’s stock, valued at approximately $100,040.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is owned by corporate insiders.

Republic Services Stock Performance

NYSE:RSG traded up $1.65 during mid-day trading on Wednesday, reaching $202.04. The stock had a trading volume of 95,267 shares, compared to its average volume of 1,219,838. The business has a 50 day simple moving average of $195.21 and a 200 day simple moving average of $188.69. The firm has a market capitalization of $63.45 billion, a price-to-earnings ratio of 35.16, a PEG ratio of 3.23 and a beta of 0.69. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.59 and a current ratio of 0.59. Republic Services, Inc. has a twelve month low of $140.23 and a twelve month high of $206.54.

Republic Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Wednesday, October 2nd. This is an increase from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s payout ratio 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.