Cetera Investment Advisers Boosts Stock Holdings in Republic Services, Inc. (NYSE:RSG)

Key Points

• Cetera Investment Advisers has increased its stake in Republic Services, Inc. by 10.8% to 96,998 shares, valued at $23.49 million, according to its latest SEC filing.
• Republic Services reported an EPS of $1.58 for the last quarter, beating estimates, with revenues reaching $4.01 billion, though slightly below expectations.
• The company announced an increased quarterly dividend of $0.625 per share, representing an annualized dividend of $2.50 and a yield of 1.02%.

Cetera Investment Advisers increased its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 10.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 96,998 shares of the business services provider's stock after acquiring an additional 9,444 shares during the period. Cetera Investment Advisers' holdings in Republic Services were worth $23,489,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Versant Capital Management Inc lifted its position in 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 purchasing an additional 44 shares in the last quarter. Silvercrest Asset Management Group LLC lifted its position in Republic Services by 0.5% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 8,648 shares of the business services provider's stock valued at $1,740,000 after purchasing an additional 46 shares in the last quarter. Elevation Point Wealth Partners LLC lifted its position in Republic Services by 4.2% during the first quarter. Elevation Point Wealth Partners LLC now owns 1,154 shares of the business services provider's stock valued at $279,000 after purchasing an additional 46 shares in the last quarter. FORA Capital LLC lifted its position in shares of Republic Services by 0.7% in the fourth quarter. FORA Capital LLC now owns 7,659 shares of the business services provider's stock valued at $1,541,000 after acquiring an additional 50 shares in the last quarter. Finally, Rothschild Investment LLC lifted its position in shares of Republic Services by 9.3% in the first 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 in the last quarter. Institutional investors own 57.73% of the company's stock.

Republic Services Stock Performance

RSG traded up $0.30 during midday trading on Thursday, hitting $231.99. 820,398 shares of the company were exchanged, compared to its average volume of 1,292,208. The company's 50 day simple moving average is $246.66 and its 200 day simple moving average is $238.06. The firm has a market capitalization of $72.50 billion, a price-to-earnings ratio of 34.33, a price-to-earnings-growth ratio of 3.74 and a beta of 0.61. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.10. Republic Services, Inc. has a 1-year low of $192.64 and a 1-year high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last posted its earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.01. Republic Services had a net margin of 12.97% and a return on equity of 18.52%. The business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same period in the prior year, the company posted $1.61 EPS. The company's revenue for the quarter was up 4.6% on a year-over-year basis. As a group, sell-side analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current 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 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 yield of 1.08%. Republic Services's dividend payout ratio (DPR) is currently 34.99%.

Analysts Set New Price Targets

Several brokerages have recently commented on RSG. National Bank Financial upgraded Republic Services to a "hold" rating in a research report on Monday, May 26th. Citigroup boosted their price objective on Republic Services from $265.00 to $278.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Melius initiated coverage on Republic Services in a report on Monday, June 9th. They issued a "hold" rating on the stock. JPMorgan Chase & Co. boosted their price objective on Republic Services from $229.00 to $275.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Finally, Wall Street Zen cut Republic Services from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Ten investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $258.89.

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.