Lifeworks Advisors LLC Increases Stock Position in Republic Services, Inc. (NYSE:RSG)

Lifeworks Advisors LLC raised its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 13.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,139 shares of the business services provider's stock after buying an additional 4,129 shares during the quarter. Republic Services comprises about 1.4% of Lifeworks Advisors LLC's investment portfolio, making the stock its 14th biggest holding. Lifeworks Advisors LLC's holdings in Republic Services were worth $8,509,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of RSG. Golden State Wealth Management LLC raised its holdings in shares of Republic Services by 3,533.3% in the first 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 period. Key Financial Inc lifted its position in Republic Services by 380.8% during the 1st quarter. Key Financial Inc now owns 125 shares of the business services provider's stock worth $30,000 after acquiring an additional 99 shares during the period. New Age Alpha Advisors LLC lifted its stake in Republic Services by 70.2% during the 4th quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider's stock valued at $36,000 after acquiring an additional 73 shares during the period. Park Square Financial Group LLC purchased a new stake in Republic Services in the 4th quarter worth approximately $44,000. Finally, Proathlete Wealth Management LLC purchased a new stake in Republic Services in the 1st quarter worth approximately $76,000. Hedge funds and other institutional investors own 57.73% of the company's stock.

Republic Services Stock Down 1.3%

Shares of NYSE RSG traded down $3.08 during mid-day trading on Monday, reaching $242.08. 287,075 shares of the company's stock were exchanged, compared to its average volume of 1,273,330. The business has a fifty day simple moving average of $247.36 and a 200 day simple moving average of $237.80. Republic Services, Inc. has a twelve month low of $190.50 and a twelve month high of $258.75. The firm has a market capitalization of $75.65 billion, a price-to-earnings ratio of 36.52, a PEG ratio of 3.72 and a beta of 0.61. 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 released its quarterly earnings data on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.53 by $0.05. The firm had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a net margin of 12.88% and a return on equity of 18.28%. The company's quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.45 earnings per share. As a group, equities analysts expect that Republic Services, Inc. will post 6.86 EPS 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. Investors of record on Thursday, October 2nd will be given a $0.625 dividend. The ex-dividend date is Thursday, October 2nd. This represents a $2.50 annualized dividend and a yield of 1.03%. This is an increase from Republic Services's previous quarterly dividend of $0.58. Republic Services's dividend payout ratio (DPR) is presently 34.99%.

Analyst Ratings Changes

RSG has been the subject of several recent research reports. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $266.00 price target on shares of Republic Services in a report on Friday, April 25th. BMO Capital Markets reaffirmed an "outperform" rating and set a $280.00 price target (up from $268.00) on shares of Republic Services in a report on Monday, June 9th. Truist Financial lifted their price objective on Republic Services from $250.00 to $270.00 and gave the company a "buy" rating in a research report on Tuesday, April 22nd. Melius began coverage on Republic Services in a report on Monday, June 9th. They issued a "hold" rating for the company. Finally, Wall Street Zen lowered Republic Services from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Ten research 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $258.16.

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.