Bank of New York Mellon Corp reduced its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 12.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,385,176 shares of the business services provider's stock after selling 202,340 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.44% of Republic Services worth $335,434,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC boosted its stake in shares of Republic Services by 3,533.3% in 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 last quarter. New Age Alpha Advisors LLC increased its stake in Republic Services by 70.2% in the fourth quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider's stock valued at $36,000 after purchasing an additional 73 shares in the last quarter. Park Square Financial Group LLC bought a new position in shares of Republic Services during the 4th quarter worth about $44,000. Generali Asset Management SPA SGR bought a new stake in Republic Services in the 4th quarter valued at about $45,000. Finally, Proathlete Wealth Management LLC acquired a new position in Republic Services during the 1st quarter worth approximately $76,000. 57.73% of the stock is owned by institutional investors.
Republic Services Trading Down 0.2%
NYSE:RSG traded down $0.52 during trading hours on Thursday, hitting $239.99. The company had a trading volume of 1,561,162 shares, compared to its average volume of 1,149,628. The company has a market capitalization of $75.00 billion, a PE ratio of 36.20, a price-to-earnings-growth ratio of 3.67 and a beta of 0.61. The stock has a 50-day moving average price of $248.52 and a 200 day moving average price of $234.08. Republic Services, Inc. has a 52 week low of $188.82 and a 52 week high of $258.75. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.66 and a quick ratio of 0.66.
Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.05. The business had revenue of $4.01 billion for the quarter, compared to analysts' expectations of $4.08 billion. Republic Services had a net margin of 12.88% and a return on equity of 18.28%. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.45 earnings per share. On average, equities research analysts predict that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.
Republic Services Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 2nd will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend is Wednesday, July 2nd. Republic Services's dividend payout ratio is currently 34.99%.
Analyst Ratings Changes
RSG has been the topic of a number of research reports. Morgan Stanley upped their price target on Republic Services from $230.00 to $245.00 and gave the stock an "equal weight" rating in a research note on Friday, April 25th. Seaport Res Ptn upgraded Republic Services to a "strong-buy" rating in a report on Tuesday, May 6th. Oppenheimer lifted their price target on Republic Services from $262.00 to $268.00 and gave the stock an "outperform" rating in a report on Wednesday. Scotiabank lifted their price target on Republic Services from $233.00 to $250.00 and gave the stock a "sector perform" rating in a report on Tuesday, April 8th. Finally, BMO Capital Markets reiterated an "outperform" rating and set a $280.00 price target (up from $268.00) on shares of Republic Services in a report on Monday, June 9th. Ten investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Republic Services presently has a consensus rating of "Moderate Buy" and a consensus target price of $255.21.
Read Our Latest Analysis on Republic Services
Republic Services Profile
(
Free Report)
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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