Bearing Point Capital LLC Takes $3.73 Million Position in Republic Services, Inc. (NYSE:RSG)

Key Points

• Bearing Point Capital LLC acquired 15,391 shares of Republic Services, valued at approximately $3.7 million, indicating growing interest in the company from institutional investors.
• Republic Services recently increased its quarterly dividend to $0.625 per share, reflecting a positive change from the previous amount and a dividend yield of 1.02%.
• Analysts are optimistic about Republic Services, with a consensus rating of "Moderate Buy" and a target price of $258.16, supported by positive earnings results and recent price target increases from various firms.

Bearing Point Capital LLC bought a new stake in Republic Services, Inc. (NYSE:RSG - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 15,391 shares of the business services provider's stock, valued at approximately $3,727,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC raised its stake in Republic Services by 3,533.3% during the first quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock worth $26,000 after buying an additional 106 shares during the last quarter. Key Financial Inc boosted its holdings in Republic Services by 380.8% during the first quarter. Key Financial Inc now owns 125 shares of the business services provider's stock worth $30,000 after purchasing an additional 99 shares during the last quarter. New Age Alpha Advisors LLC boosted its holdings in Republic Services by 70.2% during the fourth quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider's stock worth $36,000 after purchasing an additional 73 shares during the last quarter. Park Square Financial Group LLC purchased a new position in Republic Services during the fourth quarter worth about $44,000. Finally, Proathlete Wealth Management LLC purchased a new position in Republic Services in the first quarter valued at about $76,000. Institutional investors and hedge funds own 57.73% of the company's stock.

Republic Services Stock Down 4.6%

Republic Services stock traded down $11.24 during mid-day trading on Wednesday, hitting $234.77. The company had a trading volume of 1,794,735 shares, compared to its average volume of 1,285,767. The stock has a market cap of $73.37 billion, a price-to-earnings ratio of 35.40, a PEG ratio of 3.67 and a beta of 0.61. Republic Services, Inc. has a 1 year low of $192.64 and a 1 year high of $258.75. The business has a fifty day moving average of $247.06 and a 200 day moving average of $238.10. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.10.

Republic Services (NYSE:RSG - Get Free Report) last released its earnings results on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, beating analysts' consensus estimates of $1.76 by $0.01. The company had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.26 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.88%. Republic Services's quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.61 earnings per share. On average, sell-side analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be issued a dividend of $0.625 per share. The ex-dividend date is Thursday, October 2nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.06%. This is a boost from Republic Services's previous quarterly dividend of $0.58. Republic Services's payout ratio is presently 34.99%.

Analysts Set New Price Targets

A number of research analysts have weighed in on RSG shares. BMO Capital Markets boosted their target price on shares of Republic Services from $280.00 to $284.00 and gave the company an "outperform" rating in a research note on Wednesday. Scotiabank raised their price target on shares of Republic Services from $250.00 to $260.00 and gave the company a "sector perform" rating in a report on Friday, July 18th. Morgan Stanley raised their price target on shares of Republic Services from $230.00 to $245.00 and gave the company an "equal weight" rating in a report on Friday, April 25th. JPMorgan Chase & Co. raised their price target on shares of Republic Services from $229.00 to $275.00 and gave the company a "neutral" rating in a report on Friday, May 23rd. Finally, Wall Street Zen downgraded shares of Republic Services from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Ten equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Republic Services has a consensus rating of "Moderate Buy" and an average target price of $258.89.

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.