Mount Lucas Management LP Sells 8,577 Shares of Republic Services, Inc. (NYSE:RSG)

Mount Lucas Management LP lowered its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 55.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,978 shares of the business services provider's stock after selling 8,577 shares during the quarter. Mount Lucas Management LP's holdings in Republic Services were worth $1,690,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its stake in Republic Services by 0.4% in the first quarter. Versant Capital Management Inc now owns 9,973 shares of the business services provider's stock valued at $2,415,000 after acquiring an additional 44 shares during the last quarter. Silvercrest Asset Management Group LLC lifted its stake in shares of Republic Services by 0.5% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 8,648 shares of the business services provider's stock worth $1,740,000 after buying an additional 46 shares during the last quarter. Elevation Point Wealth Partners LLC lifted its stake in shares of Republic Services by 4.2% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 1,154 shares of the business services provider's stock worth $279,000 after buying an additional 46 shares during the last quarter. FORA Capital LLC increased its position in Republic Services by 0.7% during the fourth quarter. FORA Capital LLC now owns 7,659 shares of the business services provider's stock worth $1,541,000 after acquiring an additional 50 shares during the period. Finally, Rothschild Investment LLC increased its position in Republic Services by 9.3% during the first quarter. Rothschild Investment LLC now owns 599 shares of the business services provider's stock worth $145,000 after acquiring an additional 51 shares during the period. Institutional investors and hedge funds own 57.73% of the company's stock.

Republic Services Price Performance

NYSE RSG traded down $0.10 on Friday, reaching $245.01. 935,520 shares of the company's stock traded hands, compared to its average volume of 1,280,552. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.66 and a quick ratio of 0.66. Republic Services, Inc. has a 12 month low of $188.82 and a 12 month high of $258.75. The stock has a market cap of $76.57 billion, a PE ratio of 36.95, a P/E/G ratio of 3.69 and a beta of 0.61. The stock has a 50-day simple moving average of $247.41 and a 200 day simple moving average of $237.09.

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 the consensus estimate of $1.53 by $0.05. The firm had revenue of $4.01 billion for the quarter, compared to analysts' expectations of $4.08 billion. Republic Services had a net margin of 12.88% and a return on equity of 18.28%. The business's revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business earned $1.45 earnings per share. As a group, research analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $2.50 annualized dividend and a yield of 1.02%. This is a positive change from Republic Services's previous quarterly dividend of $0.58. Republic Services's dividend payout ratio (DPR) is currently 34.99%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Republic Services from $229.00 to $275.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Melius started coverage on shares of Republic Services in a report on Monday, June 9th. They set a "hold" rating on the stock. UBS Group lifted their target price on shares of Republic Services from $240.00 to $250.00 and gave the stock a "neutral" rating in a research report on Friday, April 11th. National Bank Financial upgraded shares of Republic Services to a "hold" rating in a research report on Monday, May 26th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $266.00 target price on shares of Republic Services in a research report on Friday, April 25th. Ten investment 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target 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.