McElhenny Sheffield Capital Management LLC purchased a new position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,156 shares of the business services provider's stock, valued at approximately $522,000.
Other hedge funds have also recently added to or reduced their stakes in the company. First United Bank & Trust grew its position in Republic Services by 2.8% during the first quarter. First United Bank & Trust now owns 2,535 shares of the business services provider's stock worth $614,000 after buying an additional 70 shares during the period. Millburn Ridgefield LLC DE purchased a new position in Republic Services in the 1st quarter valued at approximately $218,000. USA Financial Formulas raised its holdings in Republic Services by 55.7% during the first quarter. USA Financial Formulas now owns 2,353 shares of the business services provider's stock worth $570,000 after purchasing an additional 842 shares during the last quarter. CX Institutional boosted its position in Republic Services by 10.8% during the first quarter. CX Institutional now owns 2,346 shares of the business services provider's stock worth $568,000 after purchasing an additional 228 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Republic Services by 1.4% in the first quarter. Assenagon Asset Management S.A. now owns 5,724 shares of the business services provider's stock valued at $1,386,000 after purchasing an additional 81 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on RSG shares. William Blair reiterated an "outperform" rating on shares of Republic Services in a research report on Friday, April 25th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $280.00 price target (up previously from $268.00) on shares of Republic Services in a report on Monday. Raymond James reissued an "outperform" rating on shares of Republic Services in a research note on Wednesday, April 16th. Seaport Res Ptn raised Republic Services to a "strong-buy" rating in a research note on Tuesday, May 6th. Finally, CIBC raised Republic Services from a "neutral" rating to a "sector outperform" rating and set a $264.00 price target for the company in a research report on Tuesday, March 4th. Ten investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $252.68.
Get Our Latest Research Report on Republic Services
Republic Services Trading Down 0.4%
Republic Services stock traded down $1.07 during midday trading on Friday, reaching $250.78. The stock had a trading volume of 423,095 shares, compared to its average volume of 1,140,502. The stock has a market capitalization of $78.37 billion, a PE ratio of 38.64, a price-to-earnings-growth ratio of 3.64 and a beta of 0.63. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. The stock's 50-day simple moving average is $247.08 and its 200 day simple moving average is $229.73. Republic Services, Inc. has a twelve month low of $185.11 and a twelve month high of $258.75.
Republic Services (NYSE:RSG - Get Free Report) last issued its earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.53 by $0.05. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The business had revenue of $4.01 billion during the quarter, compared to analysts' expectations of $4.08 billion. During the same quarter in the previous year, the business earned $1.45 EPS. The company's revenue for the quarter was up 3.8% on a year-over-year basis. Analysts expect that Republic Services, Inc. will post 6.86 EPS for the current year.
Republic Services Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 2nd will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Wednesday, July 2nd. Republic Services's dividend payout ratio is presently 34.99%.
About Republic Services
(
Free Report)
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.
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