Hoxton Planning & Management LLC Buys Shares of 2,745 Republic Services, Inc. (NYSE:RSG)

Key Points

• Hoxton Planning & Management LLC acquired 2,745 shares of Republic Services, Inc. for approximately $665,000 in the first quarter, highlighting growing institutional interest in the company.
• Republic Services recently declared a quarterly dividend of $0.625 per share, an increase from the previous $0.58, reflecting the company's continued commitment to returning value to shareholders.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for Republic Services, with a price target averaging around $258.89, indicating potential for growth.

Hoxton Planning & Management LLC bought a new position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,745 shares of the business services provider's stock, valued at approximately $665,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Golden State Wealth Management LLC grew its position in shares of Republic Services by 3,533.3% during the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock worth $26,000 after purchasing an additional 106 shares in the last quarter. Capital Management Associates Inc bought a new stake in shares of Republic Services during the 1st quarter worth approximately $314,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Republic Services by 0.7% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 563,253 shares of the business services provider's stock worth $136,397,000 after acquiring an additional 4,110 shares during the period. Uniting Wealth Partners LLC bought a new stake in shares of Republic Services during the 4th quarter worth approximately $266,000. Finally, Sowell Financial Services LLC bought a new stake in shares of Republic Services during the 1st quarter worth approximately $260,000. Institutional investors and hedge funds own 57.73% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Truist Financial upped their price target on shares of Republic Services from $250.00 to $270.00 and gave the stock a "buy" rating in a report on Tuesday, April 22nd. Morgan Stanley increased their price objective on shares of Republic Services from $230.00 to $245.00 and gave the company an "equal weight" rating in a research note on Friday, April 25th. Scotiabank increased their price objective on shares of Republic Services from $250.00 to $260.00 and gave the company a "sector perform" rating in a research note on Friday, July 18th. JPMorgan Chase & Co. upped their price target on shares of Republic Services from $229.00 to $275.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Finally, BMO Capital Markets reiterated an "outperform" rating and set a $284.00 price objective (up from $280.00) on shares of Republic Services in a research report on Wednesday. Ten equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $258.89.

Republic Services Stock Up 0.3%

Shares of RSG traded up $0.59 during trading hours on Friday, reaching $231.24. 1,481,289 shares of the stock traded hands, compared to its average volume of 1,410,647. The company has a market cap of $72.20 billion, a price-to-earnings ratio of 34.21, a PEG ratio of 3.60 and a beta of 0.60. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a 52 week low of $193.75 and a 52 week high of $258.75. The stock has a fifty day simple moving average of $245.82 and a 200 day simple moving average of $238.39.

Republic Services (NYSE:RSG - Get Free Report) last posted its earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.01. The firm had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.26 billion. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The company's revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the company earned $1.61 earnings per share. On average, equities analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current 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 dividend of $0.625 per share. This is an increase from Republic Services's previous quarterly dividend of $0.58. This represents a $2.50 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, October 2nd. Republic Services's dividend payout ratio is presently 34.32%.

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.