Capital Management Associates Inc acquired a new stake in Republic Services, Inc. (NYSE:RSG - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,298 shares of the business services provider's stock, valued at approximately $314,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RSG. Vanguard Group Inc. raised its stake in shares of Republic Services by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 18,590,728 shares of the business services provider's stock worth $3,740,083,000 after purchasing an additional 144,719 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in shares of Republic Services by 3.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 6,262,325 shares of the business services provider's stock worth $1,259,855,000 after purchasing an additional 218,729 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Republic Services by 10.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,317,804 shares of the business services provider's stock worth $1,069,836,000 after purchasing an additional 499,237 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Republic Services by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 4,565,137 shares of the business services provider's stock worth $918,045,000 after purchasing an additional 57,616 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Republic Services during the fourth quarter worth approximately $553,039,000. Hedge funds and other institutional investors own 57.73% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the company. National Bank Financial upgraded Republic Services to a "hold" rating in a research note on Monday, May 26th. Truist Financial upped their price objective on Republic Services from $250.00 to $270.00 and gave the stock a "buy" rating in a report on Tuesday, April 22nd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $266.00 price objective on shares of Republic Services in a report on Friday, April 25th. Oppenheimer upped their price objective on Republic Services from $262.00 to $268.00 and gave the stock an "outperform" rating in a report on Wednesday. Finally, Scotiabank upped their price objective on Republic Services from $233.00 to $250.00 and gave the stock a "sector perform" rating in a report on Tuesday, April 8th. Ten investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Republic Services has a consensus rating of "Moderate Buy" and a consensus target price of $255.21.
Read Our Latest Analysis on RSG
Republic Services Price Performance
Shares of RSG traded down $0.52 during trading hours on Thursday, reaching $239.99. 1,561,192 shares of the company traded hands, compared to its average volume of 1,149,628. 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 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. Republic Services, Inc. has a fifty-two week low of $188.82 and a fifty-two week high of $258.75. The stock has a fifty day simple moving average of $248.52 and a 200 day simple moving average of $234.08.
Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.53 by $0.05. The business had revenue of $4.01 billion for the quarter, compared to analyst estimates of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.88%. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.45 earnings per share. As a group, research analysts predict that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.
Republic Services Dividend Announcement
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 given a dividend of $0.58 per share. The ex-dividend date is Wednesday, July 2nd. This represents a $2.32 annualized dividend and a yield of 0.97%. Republic Services's dividend payout ratio (DPR) is presently 34.99%.
Republic Services Company Profile
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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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