Penserra Capital Management LLC Has $1.08 Million Position in Republic Services, Inc. (NYSE:RSG)

Penserra Capital Management LLC raised its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 721.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,461 shares of the business services provider's stock after buying an additional 3,918 shares during the quarter. Penserra Capital Management LLC's holdings in Republic Services were worth $1,079,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. McGlone Suttner Wealth Management Inc. lifted its position in shares of Republic Services by 5.7% in the first quarter. McGlone Suttner Wealth Management Inc. now owns 2,339 shares of the business services provider's stock worth $567,000 after purchasing an additional 126 shares in the last quarter. Sonata Capital Group Inc. purchased a new stake in shares of Republic Services in the first quarter worth approximately $225,000. Wayfinding Financial LLC purchased a new stake in shares of Republic Services in the first quarter worth approximately $124,000. Capital Investment Advisory Services LLC lifted its position in shares of Republic Services by 22.0% in the first quarter. Capital Investment Advisory Services LLC now owns 1,850 shares of the business services provider's stock worth $448,000 after purchasing an additional 333 shares in the last quarter. Finally, Brookstone Capital Management lifted its position in shares of Republic Services by 165.4% in the first quarter. Brookstone Capital Management now owns 40,947 shares of the business services provider's stock worth $9,916,000 after purchasing an additional 25,517 shares in the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Stock Performance

Shares of Republic Services stock traded up $1.15 during midday trading on Friday, hitting $241.24. The company had a trading volume of 1,768,335 shares, compared to its average volume of 1,287,845. The business's 50 day simple moving average is $248.33 and its two-hundred day simple moving average is $234.34. The stock has a market cap of $75.39 billion, a PE ratio of 36.39, a P/E/G ratio of 3.69 and a beta of 0.61. 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 1-year low of $188.82 and a 1-year high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a net margin of 12.88% and a return on equity of 18.28%. Republic Services's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company posted $1.45 earnings per share. As a group, equities analysts predict that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Wednesday, July 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 0.96%. Republic Services's dividend payout ratio is currently 34.99%.

Analyst Upgrades and Downgrades

RSG has been the subject of a number of research analyst reports. Citigroup increased their price target on shares of Republic Services from $265.00 to $278.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Truist Financial raised their price objective on shares of Republic Services from $250.00 to $270.00 and gave the company a "buy" rating in a research report on Tuesday, April 22nd. UBS Group raised their price objective on shares of Republic Services from $240.00 to $250.00 and gave the company a "neutral" rating in a research report on Friday, April 11th. William Blair reaffirmed an "outperform" rating on shares of Republic Services in a research report on Friday, April 25th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $266.00 price objective on shares of Republic Services in a research report on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $255.21.

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.