Republic Services, Inc. (NYSE:RSG) Shares Sold by Mizuho Securities USA LLC

Key Points

• Mizuho Securities USA LLC has reduced its holdings in Republic Services by 15.8%, selling 3,039 shares and leaving it with a total of 16,253 shares valued at approximately $3.94 million.
• Republic Services has recently increased its quarterly dividend from $0.58 to $0.625, representing a 1.1% yield and demonstrating a payout ratio of 36.98%.
• Analysts' consensus rating for Republic Services is a "Moderate Buy", with a target price averaging $262.17, indicating potential for future growth despite some recent ratings being reduced.

Mizuho Securities USA LLC trimmed its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 15.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,253 shares of the business services provider's stock after selling 3,039 shares during the quarter. Mizuho Securities USA LLC's holdings in Republic Services were worth $3,936,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC increased its holdings in 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 valued at $26,000 after buying an additional 106 shares in the last quarter. Capital Management Associates Inc purchased a new position in shares of Republic Services in the 1st quarter valued at about $314,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in Republic Services by 0.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 563,253 shares of the business services provider's stock worth $136,397,000 after purchasing an additional 4,110 shares during the period. Sowell Financial Services LLC purchased a new position in Republic Services during the first quarter worth approximately $260,000. Finally, GAMMA Investing LLC grew its holdings in Republic Services by 61.6% in the first quarter. GAMMA Investing LLC now owns 9,193 shares of the business services provider's stock valued at $2,226,000 after purchasing an additional 3,503 shares during the period. 57.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on RSG shares. Wall Street Zen lowered Republic Services from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Raymond James Financial increased their price objective on shares of Republic Services from $257.00 to $260.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. National Bank Financial raised shares of Republic Services to a "hold" rating in a research note on Monday, May 26th. JPMorgan Chase & Co. raised their price target on shares of Republic Services from $229.00 to $275.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. Finally, Robert W. Baird lifted 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. Nine 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, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $262.17.

Republic Services Trading Down 0.4%

NYSE RSG traded down $0.83 on Wednesday, reaching $232.70. 1,906,350 shares of the company were exchanged, compared to its average volume of 1,403,585. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. The business's fifty day moving average price is $242.86 and its 200 day moving average price is $239.63. The stock has a market capitalization of $72.65 billion, a P/E ratio of 34.42, a price-to-earnings-growth ratio of 3.64 and a beta of 0.60. Republic Services, Inc. has a fifty-two week low of $197.60 and a fifty-two week high of $258.75.

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 for the quarter, beating the consensus estimate of $1.76 by $0.01. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The firm had revenue of $4.24 billion for the quarter, compared to analysts' expectations of $4.26 billion. During the same quarter in the previous year, the company posted $1.61 EPS. The company's revenue was up 4.6% compared to the same quarter last year. Analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

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