LPL Financial LLC Grows Stock Position in Republic Services, Inc. (NYSE:RSG)

Key Points

• LPL Financial LLC increased its stake in Republic Services by 27.2%, now holding 455,739 shares valued at approximately $110.36 million.
• Republic Services stock experienced a 5.7% drop, trading at $231.97, with a market cap of $72.49 billion and a price-to-earnings ratio of 34.32.
• The company declared a quarterly dividend increase to $0.625 per share, representing an annual yield of 1.08%, set to be paid on October 15th.

LPL Financial LLC increased its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 27.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 455,739 shares of the business services provider's stock after acquiring an additional 97,391 shares during the quarter. LPL Financial LLC owned approximately 0.15% of Republic Services worth $110,362,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of 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 valued at $539,091,000 after purchasing an additional 2,220,487 shares during the period. C WorldWide Group Holding A S purchased a new position in Republic Services during the first quarter worth about $230,013,000. Price T Rowe Associates Inc. MD grew its position in Republic Services by 10.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,317,804 shares of the business services provider's stock worth $1,069,836,000 after buying an additional 499,237 shares in the last quarter. Alyeska Investment Group L.P. grew its position in Republic Services by 170.6% during the fourth quarter. Alyeska Investment Group L.P. now owns 584,345 shares of the business services provider's stock worth $117,559,000 after buying an additional 368,395 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its position in 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 buying an additional 350,221 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Robert W. Baird upped their price objective on Republic Services from $232.00 to $245.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. BMO Capital Markets reissued an "outperform" rating and issued a $284.00 target price (up previously from $280.00) on shares of Republic Services in a research note on Wednesday. Oppenheimer upped their price target on Republic Services from $262.00 to $268.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. JPMorgan Chase & Co. upped their price target on Republic Services from $229.00 to $275.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Finally, Truist Financial increased their target price on Republic Services from $250.00 to $270.00 and gave the stock a "buy" rating in a research report on Tuesday, April 22nd. Ten research 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 company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $258.89.

Republic Services Trading Up 0.3%

NYSE RSG traded up $0.59 during trading hours on Friday, hitting $231.24. 1,481,289 shares of the company were exchanged, compared to its average volume of 1,303,672. The stock has a market cap of $72.26 billion, a PE ratio of 34.21, a price-to-earnings-growth ratio of 3.54 and a beta of 0.61. The stock has a 50-day moving average price of $246.25 and a 200 day moving average price of $238.22. Republic Services, Inc. has a 52 week low of $193.75 and a 52 week high of $258.75. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.04.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.76 by $0.01. The firm had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.26 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%. Republic Services's quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.61 earnings per share. Analysts forecast that Republic Services, Inc. will post 6.86 earnings per share 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 is a positive change 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 dividend payout ratio (DPR) is 34.99%.

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.