Florida Financial Advisors LLC Makes New $838,000 Investment in Republic Services, Inc. (NYSE:RSG)

Florida Financial Advisors LLC purchased a new position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,459 shares of the business services provider's stock, valued at approximately $838,000.

A number of other large investors also recently modified their holdings of the company. Norges Bank purchased a new position in Republic Services in the fourth quarter valued at approximately $553,039,000. GAMMA Investing LLC raised its stake in Republic Services by 39,024.4% during the 1st 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Republic Services by 10.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,317,804 shares of the business services provider's stock valued at $1,069,836,000 after acquiring an additional 499,237 shares during the last quarter. Alyeska Investment Group L.P. boosted its stake in 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 acquiring an additional 368,395 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its holdings in shares of Republic Services by 176.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 548,255 shares of the business services provider's stock worth $110,298,000 after purchasing an additional 350,221 shares during the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Price Performance

Shares of RSG traded up $2.90 during trading hours on Monday, reaching $244.11. The company had a trading volume of 1,264,995 shares, compared to its average volume of 1,287,670. 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 12-month low of $188.82 and a 12-month high of $258.75. The firm has a 50 day simple moving average of $248.14 and a 200-day simple moving average of $235.02. The company has a market capitalization of $76.28 billion, a price-to-earnings ratio of 36.82, a PEG ratio of 3.70 and a beta of 0.61.

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

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 2nd will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Wednesday, July 2nd. Republic Services's payout ratio is currently 34.99%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RSG. Oppenheimer upped their target price on Republic Services from $262.00 to $268.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Scotiabank increased their price objective on Republic Services from $233.00 to $250.00 and gave the company a "sector perform" rating in a report on Tuesday, April 8th. UBS Group lifted their target price on shares of Republic Services from $240.00 to $250.00 and gave the company a "neutral" rating in a report on Friday, April 11th. Melius started coverage on shares of Republic Services in a research note on Monday, June 9th. They set a "hold" rating for the company. Finally, Wall Street Zen lowered shares of Republic Services from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Ten 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. According to MarketBeat, Republic Services has a consensus rating of "Moderate Buy" and an average price target of $255.21.

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.