Meridian Wealth Advisors LLC Trims Holdings in Republic Services, Inc. (NYSE:RSG)

Meridian Wealth Advisors LLC decreased its holdings in Republic Services, Inc. (NYSE:RSG) by 2.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,503 shares of the business services provider’s stock after selling 75 shares during the period. Meridian Wealth Advisors LLC’s holdings in Republic Services were worth $606,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of RSG. Norges Bank purchased a new stake in Republic Services in the fourth quarter worth $553,039,000. GAMMA Investing LLC increased its stake in Republic Services by 39,024.4% in the first quarter. GAMMA Investing LLC now owns 2,226,177 shares of the business services provider’s stock worth $539,091,000 after purchasing an additional 2,220,487 shares during the period. C WorldWide Group Holding A S purchased a new stake in Republic Services in the first quarter worth $230,013,000. Price T Rowe Associates Inc. MD grew its position in shares of Republic Services by 10.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,317,804 shares of the business services provider’s stock worth $1,069,836,000 after buying an additional 499,237 shares in the last quarter. Finally, Alyeska Investment Group L.P. grew its position in shares of Republic Services by 170.6% during the 4th quarter. Alyeska Investment Group L.P. now owns 584,345 shares of the business services provider’s stock worth $117,559,000 after buying an additional 368,395 shares in the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Wall Street Analyst Weigh In

RSG has been the topic of a number of recent research reports. Oppenheimer increased their price target on Republic Services from $262.00 to $268.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 9th. National Bank Financial raised Republic Services to a “hold” rating in a research report on Monday, May 26th. Wall Street Zen downgraded Republic Services from a “buy” rating to a “hold” rating in a research report on Saturday, May 24th. Robert W. Baird increased their price target on Republic Services from $232.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, April 25th. Finally, Scotiabank increased their price target on Republic Services from $250.00 to $260.00 and gave the stock a “sector perform” rating in a research report on Friday. Ten analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.74.

Republic Services Trading Up 0.1%

Republic Services stock opened at $240.35 on Friday. The stock has a 50-day moving average of $247.26 and a two-hundred day moving average of $236.18. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.66 and a current ratio of 0.66. Republic Services, Inc. has a one year low of $188.82 and a one year high of $258.75. The stock has a market cap of $75.11 billion, a PE ratio of 36.25, a price-to-earnings-growth ratio of 3.64 and a beta of 0.61.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.05. Republic Services had a return on equity of 18.28% and a net margin of 12.88%. The company had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same period last year, the business posted $1.45 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. On average, research analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Wednesday, July 2nd were paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Wednesday, July 2nd. Republic Services’s payout ratio is 34.99%.

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.