MAI Capital Management Purchases 711 Shares of Republic Services, Inc. (NYSE:RSG)

Posted by Defense World Staff on Aug 24th, 2023

MAI Capital Management boosted its position in Republic Services, Inc. (NYSE:RSG – Free Report) by 30.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,060 shares of the business services provider’s stock after buying an additional 711 shares during the quarter. MAI Capital Management’s holdings in Republic Services were worth $414,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Kepos Capital LP acquired a new position in shares of Republic Services during the 4th quarter worth about $35,000. TCI Wealth Advisors Inc. boosted its position in shares of Republic Services by 242.7% in the first quarter. TCI Wealth Advisors Inc. now owns 281 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 199 shares during the period. Fred Alger Management LLC grew its stake in shares of Republic Services by 118.1% in the fourth quarter. Fred Alger Management LLC now owns 301 shares of the business services provider’s stock worth $39,000 after acquiring an additional 163 shares during the last quarter. Altshuler Shaham Ltd increased its position in Republic Services by 1,086.2% during the fourth quarter. Altshuler Shaham Ltd now owns 344 shares of the business services provider’s stock worth $44,000 after acquiring an additional 315 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in Republic Services by 40.4% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 101 shares during the period. Institutional investors own 64.36% of the company’s stock.

Insider Transactions at Republic Services

In other Republic Services news, CMO Amanda Hodges sold 2,712 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $148.66, for a total transaction of $403,165.92. Following the completion of the sale, the chief marketing officer now owns 4,969 shares in the company, valued at approximately $738,691.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Republic Services news, CFO Brian M. Delghiaccio sold 5,500 shares of Republic Services stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $149.65, for a total transaction of $823,075.00. Following the transaction, the chief financial officer now directly owns 5,071 shares in the company, valued at $758,875.15. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CMO Amanda Hodges sold 2,712 shares of the stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $148.66, for a total value of $403,165.92. Following the completion of the sale, the chief marketing officer now owns 4,969 shares of the company’s stock, valued at $738,691.54. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

Republic Services Trading Down 0.1 %

RSG stock opened at $146.29 on Thursday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market capitalization of $46.28 billion, a price-to-earnings ratio of 29.43, a P/E/G ratio of 2.84 and a beta of 0.66. The business has a fifty day moving average price of $149.35 and a 200 day moving average price of $140.94. Republic Services, Inc. has a fifty-two week low of $120.58 and a fifty-two week high of $156.65.

Republic Services (NYSE:RSG – Get Free Report) last posted its quarterly earnings data on Monday, July 31st. The business services provider reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.09. Republic Services had a net margin of 10.91% and a return on equity of 16.53%. The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.73 billion. During the same quarter last year, the company posted $1.32 EPS. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. Analysts expect that Republic Services, Inc. will post 5.35 EPS for the current fiscal year.

Republic Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Monday, October 2nd will be given a dividend of $0.535 per share. The ex-dividend date of this dividend is Friday, September 29th. This is an increase from Republic Services’s previous quarterly dividend of $0.50. This represents a $2.14 dividend on an annualized basis and a yield of 1.46%. Republic Services’s dividend payout ratio is presently 39.84%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on RSG shares. 22nd Century Group reaffirmed a “maintains” rating on shares of Republic Services in a research report on Thursday, April 27th. StockNews.com initiated coverage on Republic Services in a research report on Thursday, August 17th. They set a “buy” rating on the stock. Oppenheimer raised their target price on Republic Services from $158.00 to $159.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 1st. Morgan Stanley boosted their price target on shares of Republic Services from $158.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, August 1st. Finally, Truist Financial raised their price objective on shares of Republic Services from $146.00 to $155.00 and gave the stock a “hold” rating in a report on Wednesday, August 2nd. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $159.00.

View Our Latest Research Report on Republic Services

About Republic Services

(Free Report)

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States. 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.