Beacon Financial Group Has $7.58 Million Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Beacon Financial Group cut its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 8.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,306 shares of the business services provider's stock after selling 2,710 shares during the quarter. Republic Services comprises about 0.8% of Beacon Financial Group's investment portfolio, making the stock its 26th biggest position. Beacon Financial Group's holdings in Republic Services were worth $7,581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in Republic Services by 37.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,682 shares of the business services provider's stock worth $3,586,000 after acquiring an additional 4,827 shares in the last quarter. DnB Asset Management AS grew its stake in Republic Services by 65.1% in the fourth quarter. DnB Asset Management AS now owns 72,931 shares of the business services provider's stock worth $14,672,000 after purchasing an additional 28,764 shares in the last quarter. Hickory Point Bank & Trust acquired a new stake in Republic Services during the fourth quarter valued at approximately $790,000. Uniting Wealth Partners LLC acquired a new position in shares of Republic Services in the 4th quarter worth approximately $266,000. Finally, EULAV Asset Management increased its holdings in shares of Republic Services by 41.7% in the 4th quarter. EULAV Asset Management now owns 390,458 shares of the business services provider's stock valued at $78,552,000 after acquiring an additional 115,000 shares during the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Price Performance

Shares of RSG traded down $1.20 during midday trading on Thursday, reaching $252.92. The stock had a trading volume of 1,182,506 shares, compared to its average volume of 1,133,259. The firm's 50 day moving average price is $245.93 and its 200-day moving average price is $228.20. Republic Services, Inc. has a 52 week low of $185.07 and a 52 week high of $258.75. The company has a market capitalization of $79.04 billion, a P/E ratio of 38.97, a P/E/G ratio of 3.64 and a beta of 0.63. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.53 by $0.05. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The firm had revenue of $4.01 billion for the quarter, compared to analysts' expectations of $4.08 billion. During the same period in the previous year, the business earned $1.45 earnings per share. Republic Services's revenue for the quarter was up 3.8% compared to the same quarter last year. On average, analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The firm also recently announced 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. This represents a $2.32 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Wednesday, July 2nd. Republic Services's payout ratio is 34.99%.

Analysts Set New Price Targets

RSG has been the subject of several research reports. Morgan Stanley lifted their price target on shares of Republic Services from $230.00 to $245.00 and gave the company an "equal weight" rating in a report on Friday, April 25th. William Blair reiterated an "outperform" rating on shares of Republic Services in a research report on Friday, April 25th. Stifel Nicolaus boosted their price target on shares of Republic Services from $240.00 to $257.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. Cibc World Mkts raised shares of Republic Services from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 4th. Finally, BMO Capital Markets lifted their price target on Republic Services from $260.00 to $268.00 and gave the company an "outperform" rating in a report on Friday, April 25th. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Republic Services has an average rating of "Moderate Buy" and a consensus price target of $250.44.

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.