Axecap Investments LLC Reduces Position in Republic Services, Inc. (NYSE:RSG)

Axecap Investments LLC lessened its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 36.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,057 shares of the business services provider's stock after selling 5,848 shares during the period. Republic Services accounts for 2.1% of Axecap Investments LLC's portfolio, making the stock its 20th biggest holding. Axecap Investments LLC's holdings in Republic Services were worth $2,435,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of RSG. Brighton Jones LLC lifted its stake in Republic Services by 75.8% during the fourth quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider's stock valued at $3,988,000 after buying an additional 8,547 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in Republic Services in the fourth quarter worth approximately $30,676,000. Empowered Funds LLC increased its holdings in Republic Services by 9.2% in the fourth quarter. Empowered Funds LLC now owns 16,571 shares of the business services provider's stock worth $3,324,000 after buying an additional 1,399 shares during the last quarter. Portfolio Design Labs LLC acquired a new position in Republic Services in the fourth quarter worth approximately $281,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in Republic Services by 1.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,546,088 shares of the business services provider's stock valued at $509,462,000 after purchasing an additional 25,350 shares during the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on RSG. Citigroup increased their price target on Republic Services from $265.00 to $278.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. BMO Capital Markets reissued an "outperform" rating and issued a $280.00 price objective (up from $268.00) on shares of Republic Services in a research report on Monday. William Blair reissued an "outperform" rating on shares of Republic Services in a research report on Friday, April 25th. Truist Financial raised their target price on Republic Services from $250.00 to $270.00 and gave the stock a "buy" rating in a research report on Tuesday, April 22nd. Finally, Argus set a $260.00 target price on Republic Services in a research report on Tuesday, February 18th. Ten research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $252.68.

Republic Services Stock Up 1.4%

Republic Services stock traded up $3.40 during trading on Thursday, hitting $251.64. 956,637 shares of the company were exchanged, compared to its average volume of 1,142,425. The business's 50 day moving average is $246.67 and its 200 day moving average is $229.50. Republic Services, Inc. has a 52 week low of $185.11 and a 52 week high of $258.75. The company has a market capitalization of $78.64 billion, a P/E ratio of 38.77, a PEG ratio of 3.64 and a beta of 0.63. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The business's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.45 EPS. Analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 2nd will be paid a $0.58 dividend. The ex-dividend date is Wednesday, July 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 0.92%. Republic Services's dividend payout ratio (DPR) is presently 34.99%.

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.