Donoghue Forlines LLC Makes New Investment in Republic Services, Inc. (NYSE:RSG)

Key Points

• Donoghue Forlines LLC has acquired 9,763 shares of Republic Services, valued at approximately $2.36 million, making it a small but notable addition to their portfolio.
• Republic Services recently declared a quarterly dividend of $0.625 per share, an increase from the previous dividend of $0.58, reflecting a positive cash flow and commitment to returning value to shareholders.
• Despite a 0.1% decline in stock price, Republic Services has shown growth potential, with analysts forecasting an EPS of 6.86 for the current fiscal year and a consensus target price of $262.17.

Donoghue Forlines LLC purchased a new position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 9,763 shares of the business services provider's stock, valued at approximately $2,364,000. Republic Services accounts for approximately 0.7% of Donoghue Forlines LLC's investment portfolio, making the stock its 22nd largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Republic Services by 0.9% during the first quarter. Vanguard Group Inc. now owns 18,761,276 shares of the business services provider's stock worth $4,543,231,000 after purchasing an additional 170,548 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position 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. Northern Trust Corp lifted its position in shares of Republic Services by 13.1% during the fourth quarter. Northern Trust Corp now owns 2,426,215 shares of the business services provider's stock worth $488,106,000 after purchasing an additional 280,542 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of 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 purchasing an additional 2,220,487 shares during the last quarter. Finally, TD Asset Management Inc lifted its position in shares of Republic Services by 12.4% during the first quarter. TD Asset Management Inc now owns 2,043,812 shares of the business services provider's stock worth $494,930,000 after purchasing an additional 224,867 shares during the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Price Performance

NYSE:RSG traded up $1.72 during trading hours on Monday, reaching $236.93. 904,235 shares of the company's stock were exchanged, compared to its average volume of 1,431,663. The company has a market capitalization of $73.97 billion, a P/E ratio of 35.05, a price-to-earnings-growth ratio of 3.67 and a beta of 0.60. Republic Services, Inc. has a 12 month low of $197.60 and a 12 month high of $258.75. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.04. The business's 50-day simple moving average is $243.75 and its two-hundred day simple moving average is $239.49.

Republic Services (NYSE:RSG - Get Free Report) last issued its earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, topping analysts' consensus estimates of $1.76 by $0.01. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The firm had revenue of $4.24 billion during the quarter, compared to analysts' expectations of $4.26 billion. During the same period last year, the firm posted $1.61 earnings per share. The firm's revenue for the quarter was up 4.6% compared to the same quarter last year. Sell-side analysts expect that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Increases Dividend

The company also recently disclosed 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 of this dividend is Thursday, October 2nd. This represents a $2.50 dividend on an annualized basis and a yield of 1.1%. This is a positive change from Republic Services's previous quarterly dividend of $0.58. Republic Services's dividend payout ratio (DPR) is 34.32%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Republic Services from $229.00 to $275.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Raymond James Financial increased their price target on shares of Republic Services from $257.00 to $260.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Wall Street Zen lowered shares of Republic Services from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Oppenheimer increased their price objective on shares of Republic Services from $262.00 to $268.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Finally, Truist Financial increased their price objective on shares of Republic Services from $250.00 to $270.00 and gave the stock a "buy" rating in a research note on Tuesday, April 22nd. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $262.17.

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.