Fiduciary Family Office LLC Purchases Shares of 5,311 Republic Services, Inc. (NYSE:RSG)

Key Points

• Fiduciary Family Office LLC acquired 5,311 shares of Republic Services, valued at approximately $1,286,000, marking its new position in the company during the first quarter.
• Republic Services has announced an increase in its quarterly dividend to $0.625 per share, up from $0.58, representing a 1.1% dividend yield.
• Analyst ratings for Republic Services show a consensus of "Moderate Buy"** with an average price target of $262.17 and several analysts recently upgraded their ratings on the stock.

Fiduciary Family Office LLC purchased a new stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 5,311 shares of the business services provider's stock, valued at approximately $1,286,000.

A number of other large investors have also added to or reduced their stakes in RSG. Brighton Jones LLC grew its holdings in Republic Services by 75.8% during the 4th quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider's stock valued at $3,988,000 after purchasing an additional 8,547 shares in the last quarter. Wedbush Securities Inc. grew its holdings in Republic Services by 5.8% during the 4th quarter. Wedbush Securities Inc. now owns 1,094 shares of the business services provider's stock worth $220,000 after acquiring an additional 60 shares in the last quarter. Federated Hermes Inc. grew its holdings in Republic Services by 1.1% during the 4th quarter. Federated Hermes Inc. now owns 13,943 shares of the business services provider's stock worth $2,805,000 after acquiring an additional 155 shares in the last quarter. FIL Ltd acquired a new position in Republic Services during the 4th quarter worth $13,654,000. Finally, Bessemer Group Inc. grew its holdings in Republic Services by 7.3% during the 4th quarter. Bessemer Group Inc. now owns 26,094 shares of the business services provider's stock worth $5,251,000 after acquiring an additional 1,770 shares in the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. BMO Capital Markets lifted their price target on shares of Republic Services from $280.00 to $284.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price target on shares of Republic Services from $229.00 to $275.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Seaport Res Ptn upgraded shares of Republic Services to a "strong-buy" rating in a report on Tuesday, May 6th. Melius initiated coverage on shares of Republic Services in a research report on Monday, June 9th. They issued a "hold" rating on the stock. Finally, Melius Research raised shares of Republic Services to a "hold" rating and set a $281.00 price objective on the stock in a research report on Monday, June 9th. Nine research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $262.17.

Republic Services Stock Performance

Shares of Republic Services stock traded down $1.60 on Wednesday, reaching $231.93. The stock had a trading volume of 839,792 shares, compared to its average volume of 1,298,984. The business's 50-day moving average price is $242.86 and its two-hundred day moving average price is $239.63. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66. Republic Services, Inc. has a fifty-two week low of $197.60 and a fifty-two week high of $258.75. The stock has a market cap of $72.41 billion, a P/E ratio of 34.26, a price-to-earnings-growth ratio of 3.70 and a beta of 0.60.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, topping analysts' consensus estimates of $1.76 by $0.01. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The business had revenue of $4.24 billion during the quarter, compared to analysts' expectations of $4.26 billion. During the same period in the previous year, the company earned $1.61 earnings per share. Republic Services's revenue for the quarter was up 4.6% on a year-over-year basis. On average, sell-side analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be issued a $0.625 dividend. This is a boost from Republic Services's previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $2.50 annualized dividend and a yield of 1.1%. Republic Services's payout ratio is presently 34.32%.

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.