Edgestream Partners L.P. Sells 14,434 Shares of Republic Services, Inc. (NYSE:RSG)

Edgestream Partners L.P. cut its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 52.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,939 shares of the business services provider's stock after selling 14,434 shares during the quarter. Edgestream Partners L.P.'s holdings in Republic Services were worth $3,133,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in RSG. Golden State Wealth Management LLC grew its position in shares of 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 in the last quarter. Key Financial Inc grew its position in shares of 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 in the last quarter. New Age Alpha Advisors LLC grew its position in shares of 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 in the last quarter. Park Square Financial Group LLC purchased a new position in shares of Republic Services in the fourth quarter valued at $44,000. Finally, Generali Asset Management SPA SGR purchased a new position in Republic Services during the fourth quarter worth about $45,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on RSG. BMO Capital Markets restated an "outperform" rating and set a $280.00 target price (up from $268.00) on shares of Republic Services in a research report on Monday, June 9th. Melius Research upgraded Republic Services to a "hold" rating and set a $281.00 target price for the company in a research report on Monday, June 9th. National Bank Financial upgraded Republic Services to a "hold" rating in a research report on Monday, May 26th. UBS Group boosted their target price on Republic Services from $240.00 to $250.00 and gave the stock a "neutral" rating in a research report on Friday, April 11th. Finally, William Blair reiterated an "outperform" rating on shares of Republic Services in a report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $255.21.

Republic Services Stock Down 0.5%

Shares of Republic Services stock traded down $1.33 during midday trading on Thursday, hitting $240.03. The company had a trading volume of 1,683,047 shares, compared to its average volume of 1,158,309. The company has a 50 day moving average of $247.61 and a 200 day moving average of $235.40. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.66 and a current ratio of 0.66. Republic Services, Inc. has a 52-week low of $188.82 and a 52-week high of $258.75. The stock has a market capitalization of $75.01 billion, a P/E ratio of 36.20, a P/E/G ratio of 3.65 and a beta of 0.61.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.53 by $0.05. The firm had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.88%. The company's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the business posted $1.45 EPS. On average, equities analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 2nd were issued a dividend of $0.58 per share. The ex-dividend date was Wednesday, July 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 0.97%. Republic Services's dividend payout ratio is presently 34.99%.

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.