Independent Advisor Alliance Has $1.91 Million Holdings in Republic Services, Inc. (NYSE:RSG)

Key Points

• Independent Advisor Alliance decreased its stake in Republic Services by 24.3%, reducing its holdings to 7,891 shares worth approximately $1.91 million.
• Multiple hedge funds, including Brighton Jones LLC and CreativeOne Wealth LLC, significantly increased their positions in Republic Services, reflecting ongoing interest from institutional investors.
• Republic Services recently announced a dividend increase to $0.625 per share, marking a positive change from the previous dividend of $0.58 and indicating a 1.1% yield.

Independent Advisor Alliance decreased its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 24.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,891 shares of the business services provider's stock after selling 2,537 shares during the period. Independent Advisor Alliance's holdings in Republic Services were worth $1,911,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its stake in shares of Republic Services by 0.4% in the 1st quarter. Versant Capital Management Inc now owns 9,973 shares of the business services provider's stock valued at $2,415,000 after purchasing an additional 44 shares in the last quarter. Silvercrest Asset Management Group LLC increased its position in shares of Republic Services by 0.5% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 8,648 shares of the business services provider's stock valued at $1,740,000 after buying an additional 46 shares in the last quarter. Elevation Point Wealth Partners LLC raised its stake in shares of Republic Services by 4.2% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 1,154 shares of the business services provider's stock worth $279,000 after buying an additional 46 shares during the period. Hemington Wealth Management lifted its position in shares of Republic Services by 6.2% during the 1st quarter. Hemington Wealth Management now owns 806 shares of the business services provider's stock valued at $195,000 after buying an additional 47 shares in the last quarter. Finally, FORA Capital LLC increased its holdings in Republic Services by 0.7% in the 4th quarter. FORA Capital LLC now owns 7,659 shares of the business services provider's stock worth $1,541,000 after acquiring an additional 50 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RSG has been the subject of a number of research reports. Melius assumed coverage on shares of Republic Services in a research note on Monday, June 9th. They set a "hold" rating for the company. JPMorgan Chase & Co. lifted their price target on Republic Services from $229.00 to $275.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Truist Financial boosted their price target on Republic Services from $250.00 to $270.00 and gave the stock a "buy" rating in a research report on Tuesday, April 22nd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $266.00 target price on shares of Republic Services in a report on Friday, April 25th. Finally, Robert W. Baird upped their price objective on shares of Republic Services from $232.00 to $245.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. Nine 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $262.17.

Republic Services Stock Performance

RSG stock traded down $0.10 during trading on Thursday, reaching $232.64. 1,097,831 shares of the company's stock were exchanged, compared to its average volume of 1,444,512. The company's fifty day moving average price is $242.03 and its 200-day moving average price is $239.70. 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 firm has a market cap of $72.64 billion, a PE ratio of 34.41, a P/E/G ratio of 3.63 and a beta of 0.60. Republic Services, Inc. has a 1-year low of $197.60 and a 1-year high of $258.75.

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

Republic Services Increases Dividend

The company also recently announced 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. This represents a $2.50 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Thursday, October 2nd. This is a boost from Republic Services's previous quarterly dividend of $0.58. Republic Services's dividend payout ratio (DPR) is 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.