Republic Services, Inc. (NYSE:RSG) Shares Sold by IQ EQ FUND MANAGEMENT IRELAND Ltd

Key Points

• IQ EQ FUND MANAGEMENT IRELAND Ltd reduced its stake in Republic Services by 15%, ending the quarter with 10,061 shares valued at approximately $2.4 million.
• Republic Services recently increased its quarterly dividend from $0.58 to $0.625, reflecting a positive annual payout of $2.50 and a dividend yield of 1.1%.
• Analysts have a consensus rating of "Moderate Buy" on Republic Services, with a target price of $258.89, indicating positive sentiment among investors.

IQ EQ FUND MANAGEMENT IRELAND Ltd reduced its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 15.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,061 shares of the business services provider's stock after selling 1,773 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Republic Services were worth $2,436,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC boosted its stake in Republic Services by 3,533.3% in the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock worth $26,000 after buying an additional 106 shares during the last quarter. TCTC Holdings LLC lifted its stake in shares of Republic Services by 113.8% in the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock valued at $30,000 after purchasing an additional 66 shares in the last quarter. Key Financial Inc lifted its stake in shares of Republic Services by 380.8% in the 1st 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. Cheviot Value Management LLC acquired a new position in shares of Republic Services in the 1st quarter valued at about $49,000. Finally, Park Square Financial Group LLC acquired a new position in shares of Republic Services in the 4th quarter valued at about $44,000. Hedge funds and other institutional investors own 57.73% of the company's stock.

Republic Services Stock Performance

Shares of NYSE RSG traded up $3.32 during trading on Wednesday, reaching $235.40. The stock had a trading volume of 1,573,294 shares, compared to its average volume of 1,473,277. The stock has a market cap of $73.50 billion, a PE ratio of 34.82, a P/E/G ratio of 3.62 and a beta of 0.60. The firm's 50 day moving average price is $244.95 and its two-hundred day moving average price is $238.85. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66. Republic Services, Inc. has a one year low of $197.30 and a one year high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 18.27% and a net margin of 12.97%. The firm's revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.61 EPS. On average, research analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be given a dividend of $0.625 per share. This is a boost from Republic Services's previous quarterly dividend of $0.58. The ex-dividend date is Thursday, October 2nd. This represents a $2.50 dividend on an annualized basis and a yield of 1.1%. Republic Services's payout ratio is presently 34.32%.

Analyst Ratings Changes

RSG has been the topic of several research analyst reports. UBS Group set a $260.00 price objective on Republic Services and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Raymond James Financial lifted their price objective on Republic Services from $257.00 to $260.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Melius Research upgraded shares of Republic Services to a "hold" rating and set a $281.00 price objective on the stock in a research note on Monday, June 9th. Wall Street Zen cut shares of Republic Services from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, Robert W. Baird boosted their target price on shares of Republic Services from $232.00 to $245.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. Nine investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Republic Services has an average rating of "Moderate Buy" and a consensus price target of $262.17.

Republic Services 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.