46,754 Shares in Republic Services, Inc. (NYSE:RSG) Acquired by Synergy Asset Management LLC

Synergy Asset Management LLC purchased a new position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 46,754 shares of the business services provider's stock, valued at approximately $11,322,000. Republic Services accounts for 1.4% of Synergy Asset Management LLC's holdings, making the stock its 21st largest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. DnB Asset Management AS boosted its holdings in Republic Services by 65.1% during the 4th quarter. DnB Asset Management AS now owns 72,931 shares of the business services provider's stock valued at $14,672,000 after acquiring an additional 28,764 shares during the period. Hickory Point Bank & Trust purchased a new position in shares of Republic Services in the fourth quarter valued at approximately $790,000. Uniting Wealth Partners LLC purchased a new position in shares of Republic Services in the fourth quarter valued at approximately $266,000. BNP Paribas Financial Markets boosted its position in Republic Services by 3.4% in the 4th quarter. BNP Paribas Financial Markets now owns 435,835 shares of the business services provider's stock valued at $87,681,000 after buying an additional 14,273 shares during the period. Finally, National Pension Service boosted its position in Republic Services by 3.5% in the 4th quarter. National Pension Service now owns 329,757 shares of the business services provider's stock valued at $66,341,000 after buying an additional 11,128 shares during the period. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Trading Down 0.1%

NYSE:RSG opened at $248.11 on Friday. The stock has a fifty day moving average price of $248.61 and a two-hundred day moving average price of $231.14. The stock has a market capitalization of $77.53 billion, a price-to-earnings ratio of 37.42, a PEG ratio of 3.80 and a beta of 0.63. 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 1 year low of $188.82 and a 1 year high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.53 by $0.05. Republic Services had a net margin of 12.88% and a return on equity of 18.28%. The business had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter last year, the firm posted $1.45 EPS. The business's revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Wednesday, July 2nd will be issued a dividend of $0.58 per share. The ex-dividend date is Wednesday, July 2nd. This represents a $2.32 annualized dividend and a yield of 0.94%. Republic Services's dividend payout ratio is presently 34.99%.

Analysts Set New Price Targets

RSG has been the subject of a number of recent research reports. UBS Group lifted their target price on Republic Services from $240.00 to $250.00 and gave the company a "neutral" rating in a report on Friday, April 11th. National Bank Financial upgraded Republic Services to a "hold" rating in a research note on Monday, May 26th. JPMorgan Chase & Co. lifted their price objective on Republic Services from $229.00 to $275.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. Scotiabank lifted their price target on shares of Republic Services from $233.00 to $250.00 and gave the stock a "sector perform" rating in a research note on Tuesday, April 8th. Finally, Citigroup lifted their price target on shares of Republic Services from $265.00 to $278.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Ten investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Republic Services has an average rating of "Moderate Buy" and a consensus price target of $252.68.

About Republic Services

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.

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