AlphaCore Capital LLC Acquires New Holdings in Republic Services, Inc. (NYSE:RSG)

Key Points

• AlphaCore Capital LLC has made a new investment of approximately $356,000 in Republic Services, acquiring 1,472 shares during the first quarter of the year.
• Republic Services has reported a quarterly earnings per share (EPS) of $1.77, slightly exceeding analyst expectations, with a total revenue of $4.24 billion for the same period.
• The company has announced an increase in its quarterly dividend to $0.625 per share, up from the previous $0.58, reflecting a positive trend in shareholder returns.

AlphaCore Capital LLC bought a new position in Republic Services, Inc. (NYSE:RSG - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,472 shares of the business services provider's stock, valued at approximately $356,000.

Other hedge funds have also bought and sold shares of the company. Golden State Wealth Management LLC grew its stake in shares of Republic Services by 3,533.3% during the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock valued at $26,000 after purchasing an additional 106 shares during the period. Key Financial Inc grew its stake in shares of Republic Services by 380.8% during the 1st quarter. Key Financial Inc now owns 125 shares of the business services provider's stock valued at $30,000 after acquiring an additional 99 shares during the period. TCTC Holdings LLC grew its stake in shares of Republic Services by 113.8% during the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock valued at $30,000 after acquiring an additional 66 shares during the period. Park Square Financial Group LLC bought a new position in shares of Republic Services during the 4th quarter valued at approximately $44,000. Finally, Cheviot Value Management LLC bought a new position in shares of Republic Services during the 1st quarter valued at approximately $49,000. Hedge funds and other institutional investors own 57.73% of the company's stock.

Analyst Upgrades and Downgrades

RSG has been the subject of several recent analyst reports. Melius initiated coverage on Republic Services in a research note on Monday, June 9th. They issued a "hold" rating for the company. National Bank Financial upgraded 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. William Blair reiterated an "outperform" rating on shares of Republic Services in a research report on Friday, April 25th. Finally, Morgan Stanley increased their target price on Republic Services from $230.00 to $245.00 and gave the company an "equal weight" rating in a research report on Friday, April 25th. Nine 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $262.17.

Republic Services Trading Down 0.0%

RSG stock traded down $0.08 during midday trading on Thursday, reaching $232.66. The company's stock had a trading volume of 291,084 shares, compared to its average volume of 1,299,818. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a fifty day simple moving average of $242.43 and a two-hundred day simple moving average of $239.58. Republic Services, Inc. has a 1 year low of $197.60 and a 1 year high of $258.75. The firm has a market capitalization of $72.64 billion, a price-to-earnings ratio of 34.41, a PEG ratio of 3.64 and a beta of 0.60.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, beating the consensus estimate of $1.76 by $0.01. The firm had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.26 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%. The business's revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.61 earnings per share. On average, equities research analysts predict that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, October 2nd. This is an increase from Republic Services's previous quarterly dividend of $0.58. This represents a $2.50 dividend on an annualized basis and a yield of 1.1%. Republic Services's dividend payout ratio is 36.98%.

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.