Envestnet Portfolio Solutions Inc. Trims Stake in Republic Services, Inc. (NYSE:RSG)

Envestnet Portfolio Solutions Inc. reduced its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 3.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 59,955 shares of the business services provider's stock after selling 2,235 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Republic Services were worth $14,519,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. DnB Asset Management AS grew its holdings in Republic Services by 65.1% in the fourth quarter. DnB Asset Management AS now owns 72,931 shares of the business services provider's stock worth $14,672,000 after purchasing an additional 28,764 shares during the period. Hickory Point Bank & Trust acquired a new stake in shares of Republic Services in the 4th quarter valued at about $790,000. Uniting Wealth Partners LLC bought a new stake in Republic Services in the 4th quarter valued at about $266,000. BNP Paribas Financial Markets raised its stake in Republic Services by 3.4% during the 4th quarter. BNP Paribas Financial Markets now owns 435,835 shares of the business services provider's stock worth $87,681,000 after buying an additional 14,273 shares during the period. Finally, National Pension Service boosted its holdings in Republic Services by 3.5% in the fourth quarter. National Pension Service now owns 329,757 shares of the business services provider's stock worth $66,341,000 after acquiring an additional 11,128 shares in the last quarter. 57.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on RSG shares. Wall Street Zen cut Republic Services from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Melius Research upgraded Republic Services to a "hold" rating and set a $281.00 price target for the company in a report on Monday, June 9th. Seaport Res Ptn raised shares of Republic Services to a "strong-buy" rating in a report on Tuesday, May 6th. BMO Capital Markets reiterated an "outperform" rating and issued a $280.00 target price (up previously from $268.00) on shares of Republic Services in a report on Monday, June 9th. Finally, William Blair restated an "outperform" rating on shares of Republic Services in a report on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $252.68.

Republic Services Stock Performance

Shares of NYSE RSG traded down $0.17 during midday trading on Friday, hitting $248.11. The company's stock had a trading volume of 1,442,229 shares, compared to its average volume of 1,145,978. The stock has a fifty day moving average price of $248.61 and a 200 day moving average price of $231.04. The firm has a market capitalization of $77.53 billion, a price-to-earnings ratio of 37.42, a P/E/G ratio of 3.80 and a beta of 0.63. Republic Services, Inc. has a one year low of $188.82 and a one year high of $258.75. 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 (NYSE:RSG - Get Free Report) last posted its earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.53 by $0.05. Republic Services had a return on equity of 18.28% and a net margin of 12.88%. The business had revenue of $4.01 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the previous year, the firm earned $1.45 EPS. The company's quarterly revenue was up 3.8% compared to the same quarter last year. On average, research analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Announces Dividend

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. This represents a $2.32 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Wednesday, July 2nd. 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.