Burney Co. increased its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 32.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,776 shares of the business services provider's stock after acquiring an additional 1,645 shares during the quarter. Burney Co.'s holdings in Republic Services were worth $1,641,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC increased its stake in Republic Services by 3,533.3% in the first 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 increased its stake in Republic Services by 380.8% in the first quarter. Key Financial Inc now owns 125 shares of the business services provider's stock valued at $30,000 after purchasing an additional 99 shares during the period. 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 during the period. Park Square Financial Group LLC acquired a new position in Republic Services in the fourth quarter valued at $44,000. Finally, Proathlete Wealth Management LLC acquired a new position in Republic Services in the first quarter valued at $76,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.
Republic Services Trading Down 0.6%
Shares of NYSE:RSG traded down $1.53 during trading on Monday, reaching $243.63. The stock had a trading volume of 190,521 shares, compared to its average volume of 1,272,684. The business has a fifty day moving average price of $247.36 and a 200-day moving average price of $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. The stock has a market cap of $76.14 billion, a P/E ratio of 36.72, a PEG ratio of 3.72 and a beta of 0.61. Republic Services, Inc. has a fifty-two week low of $190.50 and a fifty-two week high of $258.75.
Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The business services provider reported $1.58 earnings per share for the quarter, beating 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 business had revenue of $4.01 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the previous year, the business posted $1.45 earnings per share. The company's revenue was up 3.8% on a year-over-year basis. As a group, 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. Investors of record on Thursday, October 2nd will be given a dividend of $0.625 per share. This is a positive change from Republic Services's previous quarterly dividend of $0.58. The ex-dividend date is Thursday, October 2nd. This represents a $2.50 annualized dividend and a yield of 1.03%. Republic Services's dividend payout ratio is 34.99%.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the stock. Raymond James Financial lifted their target price on shares of Republic Services from $257.00 to $260.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $266.00 target price on shares of Republic Services in a report on Friday, April 25th. Melius Research raised shares of Republic Services to a "hold" rating and set a $281.00 target price on the stock in a report on Monday, June 9th. UBS Group lifted their target price on shares of Republic Services from $240.00 to $250.00 and gave the company a "neutral" rating in a report on Friday, April 11th. Finally, Citigroup lifted their target price on shares of Republic Services from $265.00 to $278.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Ten investment 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $258.16.
Check Out Our Latest Stock Report on RSG
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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