Brookwood Investment Group LLC Buys New Position in Republic Services, Inc. (NYSE:RSG)

Key Points

• Brookwood Investment Group LLC has acquired a new stake in Republic Services, purchasing 3,501 shares valued at approximately $848,000.
• Republic Services has announced a quarterly dividend increase to $0.625, which will be paid on October 15th, reflecting an annualized yield of 1.02%.
• Analysts from Citigroup and Seaport Res Ptn have issued optimistic ratings on Republic Services, raising price targets and indicating a consensus rating of "Moderate Buy" for the stock.

Brookwood Investment Group LLC purchased a new position in Republic Services, Inc. (NYSE:RSG - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,501 shares of the business services provider's stock, valued at approximately $848,000.

A number of other large investors have also bought and sold shares of RSG. Versant Capital Management Inc grew its holdings in shares of Republic Services by 0.4% during the first quarter. Versant Capital Management Inc now owns 9,973 shares of the business services provider's stock valued at $2,415,000 after buying an additional 44 shares during the last quarter. Silvercrest Asset Management Group LLC grew its position in Republic Services by 0.5% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 8,648 shares of the business services provider's stock worth $1,740,000 after purchasing an additional 46 shares in the last quarter. Elevation Point Wealth Partners LLC grew its position in Republic Services by 4.2% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 1,154 shares of the business services provider's stock worth $279,000 after purchasing an additional 46 shares in the last quarter. FORA Capital LLC grew its position in Republic Services by 0.7% in the 4th quarter. FORA Capital LLC now owns 7,659 shares of the business services provider's stock worth $1,541,000 after purchasing an additional 50 shares in the last quarter. Finally, Rothschild Investment LLC grew its position in shares of Republic Services by 9.3% during the 1st quarter. Rothschild Investment LLC now owns 599 shares of the business services provider's stock valued at $145,000 after acquiring an additional 51 shares during the period. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. William Blair reissued an "outperform" rating on shares of Republic Services in a research report on Friday, April 25th. National Bank Financial raised shares of Republic Services to a "hold" rating in a research report on Monday, May 26th. Royal Bank Of Canada restated an "outperform" rating and set a $266.00 price target on shares of Republic Services in a research note on Friday, April 25th. Citigroup upped their price target on shares of Republic Services from $265.00 to $278.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Finally, JPMorgan Chase & Co. upped their price target on shares of Republic Services from $229.00 to $275.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. Ten research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $258.16.

Republic Services Trading Down 0.7%

Shares of NYSE:RSG traded down $1.82 on Monday, hitting $243.34. The company had a trading volume of 220,971 shares, compared to its average volume of 1,272,890. Republic Services, Inc. has a 1 year low of $190.50 and a 1 year high of $258.75. The firm has a market capitalization of $76.04 billion, a price-to-earnings ratio of 36.70, a P/E/G ratio of 3.72 and a beta of 0.61. The firm's 50-day simple moving average is $247.36 and its two-hundred day simple moving average is $237.80. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.10.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.53 by $0.05. Republic Services had a net margin of 12.88% and a return on equity of 18.28%. The firm had revenue of $4.01 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same period in the previous year, the business posted $1.45 earnings per share. The business's revenue for the quarter was up 3.8% on a year-over-year basis. Equities analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be paid a $0.625 dividend. The ex-dividend date is Thursday, October 2nd. This is a positive change from Republic Services's previous quarterly dividend of $0.58. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.03%. Republic Services's payout ratio is currently 34.99%.

Republic Services Company 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.