Meridian Wealth Management LLC Acquires New Holdings in Republic Services, Inc. (NYSE:RSG)

Meridian Wealth Management LLC purchased a new stake in Republic Services, Inc. (NYSE:RSG) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,159 shares of the business services provider’s stock, valued at approximately $233,000.

Several other institutional investors have also recently modified their holdings of RSG. International Assets Investment Management LLC raised its stake in Republic Services by 83,671.9% in the 3rd quarter. International Assets Investment Management LLC now owns 538,653 shares of the business services provider’s stock valued at $108,183,000 after purchasing an additional 538,010 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Republic Services by 31.7% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 614,586 shares of the business services provider’s stock valued at $123,434,000 after buying an additional 147,799 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Republic Services by 1,946.2% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 136,279 shares of the business services provider’s stock valued at $26,484,000 after buying an additional 129,619 shares during the period. Clearbridge Investments LLC grew its stake in Republic Services by 3,827.6% in the 2nd quarter. Clearbridge Investments LLC now owns 106,241 shares of the business services provider’s stock worth $20,647,000 after acquiring an additional 103,536 shares during the period. Finally, Legal & General Group Plc raised its holdings in Republic Services by 5.4% in the 2nd quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider’s stock valued at $351,480,000 after acquiring an additional 92,013 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RSG has been the subject of a number of recent analyst reports. Royal Bank of Canada lifted their price objective on Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. CIBC increased their price objective on shares of Republic Services from $208.00 to $217.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Oppenheimer boosted their target price on shares of Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Truist Financial lifted their price target on shares of Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, StockNews.com downgraded Republic Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Republic Services presently has an average rating of “Moderate Buy” and an average price target of $215.71.

Insider Activity

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly 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 filing with the SEC, which is available through this link. Insiders own 0.09% of the company’s stock.

Republic Services Stock Performance

Shares of RSG stock opened at $217.83 on Tuesday. Republic Services, Inc. has a 52 week low of $159.10 and a 52 week high of $218.90. The company has a market cap of $68.21 billion, a P/E ratio of 34.85, a PEG ratio of 3.31 and a beta of 0.70. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. The business has a 50 day moving average of $204.81 and a two-hundred day moving average of $199.22.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.20. The company had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.54 EPS. As a group, analysts anticipate that Republic Services, Inc. will post 6.24 EPS for the current year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a $0.58 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.32 annualized dividend and a dividend yield of 1.07%. Republic Services’s dividend payout ratio (DPR) is 37.12%.

Republic Services 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.