Cyndeo Wealth Partners LLC Cuts Holdings in Republic Services, Inc. $RSG

Cyndeo Wealth Partners LLC reduced its position in Republic Services, Inc. (NYSE:RSG) by 21.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,799 shares of the business services provider’s stock after selling 3,302 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Republic Services were worth $2,708,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Cranbrook Wealth Management LLC raised its holdings in shares of Republic Services by 1,222.2% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider’s stock worth $29,000 after acquiring an additional 110 shares in the last quarter. NewSquare Capital LLC increased its position in Republic Services by 68.5% in the second quarter. NewSquare Capital LLC now owns 123 shares of the business services provider’s stock worth $30,000 after purchasing an additional 50 shares during the last quarter. Foster Dykema Cabot & Partners LLC bought a new position in Republic Services during the second quarter valued at $33,000. Atticus Wealth Management LLC purchased a new position in shares of Republic Services in the 2nd quarter worth $39,000. Finally, Hilltop National Bank bought a new stake in shares of Republic Services in the 2nd quarter worth about $47,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Insider Buying and Selling

In other news, Director Katharine Weymouth bought 478 shares of the firm’s stock in a transaction on Tuesday, December 9th. The stock was acquired at an average cost of $209.46 per share, with a total value of $100,121.88. Following the transaction, the director directly owned 5,740 shares in the company, valued at approximately $1,202,300.40. This trade represents a 9.08% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on RSG shares. Barclays started coverage on Republic Services in a research report on Friday, September 19th. They issued an “equal weight” rating and a $240.00 price target for the company. National Bankshares cut their target price on Republic Services from $270.00 to $241.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 7th. The Goldman Sachs Group started coverage on Republic Services in a research report on Monday, November 24th. They issued a “buy” rating and a $255.00 price target for the company. Robert W. Baird set a $240.00 price objective on shares of Republic Services in a research report on Friday, October 31st. Finally, Oppenheimer set a $256.00 target price on shares of Republic Services in a report on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $251.10.

Republic Services Stock Down 0.2%

NYSE:RSG opened at $212.97 on Friday. The company has a market cap of $65.93 billion, a price-to-earnings ratio of 31.69, a price-to-earnings-growth ratio of 3.41 and a beta of 0.54. Republic Services, Inc. has a twelve month low of $199.43 and a twelve month high of $258.75. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.04. The stock has a fifty day simple moving average of $214.12 and a 200-day simple moving average of $228.80.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Friday, October 31st. The business services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.78 by $0.12. The company had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.25 billion. Republic Services had a net margin of 12.77% and a return on equity of 18.24%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.81 EPS. Analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Friday, January 2nd will be paid a $0.625 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.50 annualized dividend and a yield of 1.2%. Republic Services’s dividend payout ratio is 37.20%.

Republic Services Company Profile

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.