Providence Capital Advisors LLC Sells 59 Shares of Republic Services, Inc. (NYSE:RSG)

28 Nov 2024, 10:42 by Amy Steele · The Cerbat Gem

Providence Capital Advisors LLC reduced its position in shares of Republic Services, Inc. (NYSE:RSG – Free Report) by 2.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,840 shares of the business services provider’s stock after selling 59 shares during the period. Providence Capital Advisors LLC’s holdings in Republic Services were worth $570,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC lifted its holdings in Republic Services by 351.6% during the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 109 shares during the last quarter. Webster Bank N. A. bought a new position in Republic Services during the 3rd quarter valued at about $31,000. Truvestments Capital LLC bought a new position in Republic Services during the 3rd quarter valued at about $34,000. Itau Unibanco Holding S.A. bought a new position in Republic Services during the 2nd quarter valued at about $36,000. Finally, Ashton Thomas Securities LLC bought a new position in Republic Services during the 3rd quarter valued at about $39,000. 57.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RSG. StockNews.com downgraded shares of Republic Services from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Scotiabank began coverage on shares of Republic Services in a research note on Friday, October 4th. They issued a “sector perform” rating and a $224.00 target price for the company. Morgan Stanley boosted their target price on shares of Republic Services from $208.00 to $217.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Truist Financial boosted their target price on shares of Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, TD Cowen boosted their target price on shares of Republic Services from $195.00 to $200.00 and gave the stock a “hold” rating in a research note on Monday, August 5th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.71.

View Our Latest Analysis on RSG

Republic Services Stock Down 0.2 %

Shares of RSG stock opened at $218.28 on Thursday. The firm has a fifty day moving average of $205.53 and a 200-day moving average of $199.56. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. Republic Services, Inc. has a 12-month low of $159.10 and a 12-month high of $220.58. The company has a market capitalization of $68.35 billion, a price-to-earnings ratio of 34.92, a P/E/G ratio of 3.33 and a beta of 0.70.

Republic Services (NYSE:RSG – Get Free Report) last released its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.20. The business had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.54 earnings per share. As a group, equities research analysts predict that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Thursday, January 2nd. Republic Services’s dividend payout ratio (DPR) is currently 37.12%.

Insider Activity at Republic Services

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of the stock in a transaction on Tuesday, November 19th. The shares were 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 owns 6,318 shares in the company, valued at $1,326,906.36. This trade represents a 44.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.09% of the stock is owned by insiders.

Republic Services Company Profile

(Free Report)

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.