Partners Group Holding AG Has $60.29 Million Stake in Republic Services, Inc. (NYSE:RSG)

Key Points

• Partners Group Holding AG has reduced its stake in Republic Services, Inc. by 10.9%, now owning approximately $60.29 million worth of shares, making it the 6th largest position in their portfolio.
• Republic Services recently announced a dividend increase to $0.625 per share, up from $0.58, with an annualized yield of 1.1%.
• The company reported a quarterly EPS of $1.77, slightly exceeding analysts' expectations, and had a revenue of $4.24 billion for the quarter, reflecting a 4.6% year-over-year increase.

Partners Group Holding AG cut its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 10.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 248,974 shares of the business services provider's stock after selling 30,493 shares during the period. Republic Services makes up approximately 2.5% of Partners Group Holding AG's portfolio, making the stock its 6th biggest position. Partners Group Holding AG owned approximately 0.08% of Republic Services worth $60,292,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Raymond James Financial Inc. grew its stake in shares of Republic Services by 0.6% in the 1st quarter. Raymond James Financial Inc. now owns 923,979 shares of the business services provider's stock valued at $223,751,000 after buying an additional 5,265 shares during the period. Cresset Asset Management LLC grew its stake in shares of Republic Services by 7.2% in the 1st quarter. Cresset Asset Management LLC now owns 11,485 shares of the business services provider's stock valued at $2,781,000 after buying an additional 773 shares during the period. Alliance Wealth Advisors LLC UT grew its stake in shares of Republic Services by 1.2% in the 1st quarter. Alliance Wealth Advisors LLC UT now owns 22,459 shares of the business services provider's stock valued at $5,439,000 after buying an additional 262 shares during the period. Nations Financial Group Inc. IA ADV grew its stake in shares of Republic Services by 10.7% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 4,173 shares of the business services provider's stock valued at $1,011,000 after buying an additional 403 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Republic Services by 6.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 5,407 shares of the business services provider's stock valued at $1,310,000 after buying an additional 346 shares during the period. 57.73% of the stock is owned by institutional investors.

Republic Services Price Performance

Shares of NYSE RSG opened at $232.88 on Friday. Republic Services, Inc. has a twelve month low of $197.60 and a twelve month high of $258.75. The stock's 50 day moving average price is $241.62 and its 200-day moving average price is $239.81. The company has a market capitalization of $72.71 billion, a PE ratio of 34.45, a PEG ratio of 3.63 and a beta of 0.60. 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 posted its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, topping analysts' consensus estimates of $1.76 by $0.01. The company had revenue of $4.24 billion for the quarter, compared to analysts' expectations of $4.26 billion. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. Republic Services's revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.61 EPS. On average, equities analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd will be issued a $0.625 dividend. This is a boost from Republic Services's previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. Republic Services's payout ratio is presently 34.32%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Scotiabank raised their target price on Republic Services from $250.00 to $260.00 and gave the company a "sector perform" rating in a research note on Friday, July 18th. National Bank Financial upgraded Republic Services to a "hold" rating in a research note on Monday, May 26th. Raymond James Financial lifted their price target on Republic Services from $257.00 to $260.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Truist Financial lifted their price target on Republic Services from $250.00 to $270.00 and gave the company a "buy" rating in a research note on Tuesday, April 22nd. Finally, Melius began coverage on Republic Services in a research note on Monday, June 9th. They set a "hold" rating for the company. Nine equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Republic Services currently has a consensus rating of "Moderate Buy" and an average price target of $262.17.

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.

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