Axxcess Wealth Management LLC Lowers Holdings in Republic Services, Inc. (NYSE:RSG)

Axxcess Wealth Management LLC trimmed its holdings in Republic Services, Inc. (NYSE:RSG) by 1.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,047 shares of the business services provider’s stock after selling 85 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Republic Services were worth $1,370,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. YHB Investment Advisors Inc. bought a new stake in shares of Republic Services in the first quarter worth about $29,000. EntryPoint Capital LLC bought a new stake in Republic Services in the 1st quarter worth approximately $29,000. Jones Financial Companies Lllp raised its holdings in shares of Republic Services by 3,014.3% during the 4th quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider’s stock worth $36,000 after acquiring an additional 211 shares in the last quarter. Indiana Trust & Investment Management CO bought a new position in shares of Republic Services during the 2nd quarter valued at approximately $45,000. Finally, Frazier Financial Advisors LLC purchased a new position in shares of Republic Services in the fourth quarter valued at $50,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insider Activity at Republic Services

In other Republic Services news, Director Tomago Collins sold 3,200 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $203.01, for a total transaction of $649,632.00. Following the completion of the sale, the director now owns 17,486 shares in the company, valued at $3,549,832.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.09% of the stock is currently owned by corporate insiders.

Republic Services Stock Down 1.3 %

Shares of NYSE RSG opened at $199.18 on Thursday. The stock has a 50 day moving average price of $202.21 and a 200 day moving average price of $193.56. The firm has a market capitalization of $62.56 billion, a price-to-earnings ratio of 34.94, a PEG ratio of 3.29 and a beta of 0.70. Republic Services, Inc. has a 52-week low of $140.23 and a 52-week high of $208.69. 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 (NYSE:RSG) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.08. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. The business had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.03 billion. Sell-side analysts expect that Republic Services, Inc. will post 6.18 earnings per share for the current year.

Republic Services Increases Dividend

The firm also recently disclosed 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. 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. 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 currently 37.54%.

Analyst Ratings Changes

A number of equities analysts have commented on RSG shares. Royal Bank of Canada lifted their price objective on shares of Republic Services from $201.00 to $211.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. Oppenheimer decreased their price objective on Republic Services from $211.00 to $210.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Truist Financial upgraded Republic Services from a “hold” rating to a “buy” rating and lifted their target price for the stock from $192.00 to $220.00 in a report on Thursday, July 11th. Robert W. Baird raised their price target on Republic Services from $208.00 to $210.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Finally, Stifel Nicolaus boosted their price objective on shares of Republic Services from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $211.00.

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.