MML Investors Services LLC Reduces Position in Republic Services, Inc. (NYSE:RSG)

MML Investors Services LLC decreased its holdings in Republic Services, Inc. (NYSE:RSG) by 5.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 19,091 shares of the business services provider’s stock after selling 1,140 shares during the period. MML Investors Services LLC’s holdings in Republic Services were worth $3,834,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of RSG. FSA Wealth Management LLC purchased a new position in shares of Republic Services during the third quarter valued at approximately $25,000. Wolff Wiese Magana LLC grew its position in Republic Services by 351.6% in the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock worth $28,000 after purchasing an additional 109 shares during the period. Webster Bank N. A. bought a new stake in Republic Services in the 3rd quarter worth approximately $31,000. Truvestments Capital LLC bought a new position in shares of Republic Services during the 3rd quarter valued at $34,000. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of Republic Services in the 2nd quarter worth $36,000. Institutional investors own 57.73% of the company’s stock.

Republic Services Trading Down 0.6 %

Republic Services stock opened at $208.97 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64. The firm’s 50 day moving average price is $208.53 and its 200-day moving average price is $201.71. Republic Services, Inc. has a 1 year low of $160.65 and a 1 year high of $220.58. The stock has a market cap of $65.44 billion, a P/E ratio of 33.44, a PEG ratio of 3.21 and a beta of 0.71.

Republic Services (NYSE:RSG) last announced its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.54 EPS. On average, equities analysts predict that Republic Services, Inc. will post 6.25 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Thursday, January 2nd. Republic Services’s payout ratio is 37.12%.

Insider Transactions at Republic Services

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on RSG. Oppenheimer upped their price objective on Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a “hold” rating to a “buy” rating and upped their price target for the company from $219.00 to $237.00 in a research report on Tuesday. Truist Financial raised their price objective on shares of Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. William Blair began coverage on shares of Republic Services in a report on Thursday, October 3rd. They set an “outperform” rating for the company. Finally, Royal Bank of Canada boosted their price objective on shares of Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $220.06.

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.