Cornerstone Wealth Group LLC Cuts Position in Republic Services, Inc. (NYSE:RSG)

Cornerstone Wealth Group LLC decreased its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 13.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,184 shares of the business services provider's stock after selling 2,573 shares during the quarter. Cornerstone Wealth Group LLC's holdings in Republic Services were worth $4,161,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new stake in Republic Services during the 4th quarter worth $553,039,000. GAMMA Investing LLC boosted its position in Republic Services by 39,024.4% during the first quarter. GAMMA Investing LLC now owns 2,226,177 shares of the business services provider's stock worth $539,091,000 after acquiring an additional 2,220,487 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Republic Services in the 4th quarter valued at about $184,827,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Republic Services by 10.4% during the 4th 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. Finally, Alyeska Investment Group L.P. grew its position in shares of Republic Services by 170.6% in the fourth quarter. Alyeska Investment Group L.P. now owns 584,345 shares of the business services provider's stock valued at $117,559,000 after purchasing an additional 368,395 shares in the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RSG has been the topic of several recent analyst reports. Wall Street Zen lowered shares of Republic Services from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Royal Bank Of Canada reissued an "outperform" rating and set a $266.00 target price on shares of Republic Services in a research note on Friday, April 25th. Robert W. Baird increased their price target on Republic Services from $232.00 to $245.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. CIBC upgraded shares of Republic Services from a "neutral" rating to a "sector outperform" rating and set a $264.00 price objective on the stock in a report on Tuesday, March 4th. Finally, Melius Research upgraded shares of Republic Services to a "hold" rating and set a $281.00 price target for the company in a research report on Monday, June 9th. Ten equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Republic Services has an average rating of "Moderate Buy" and a consensus target price of $252.68.

Republic Services Price Performance

Shares of RSG stock traded up $0.07 during midday trading on Tuesday, reaching $250.75. 1,622,889 shares of the company traded hands, compared to its average volume of 1,256,443. The firm's 50 day simple moving average is $248.71 and its two-hundred day simple moving average is $231.49. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a market cap of $78.36 billion, a PE ratio of 37.82, a price-to-earnings-growth ratio of 3.80 and a beta of 0.63. Republic Services, Inc. has a 1-year low of $188.82 and a 1-year high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $4.08 billion. During the same period in the prior year, the business earned $1.45 earnings per share. The company's quarterly revenue was up 3.8% on a year-over-year basis. On average, equities research analysts expect that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 2nd will be paid a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $2.32 annualized dividend and a yield of 0.93%. Republic Services's payout ratio is currently 34.99%.

About Republic Services

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.