Republic Services, Inc. (NYSE:RSG) Holdings Lifted by Heirloom Wealth Management

Heirloom Wealth Management increased its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 83,953 shares of the business services provider's stock after purchasing an additional 3,047 shares during the quarter. Republic Services makes up about 5.8% of Heirloom Wealth Management's holdings, making the stock its 5th biggest position. Heirloom Wealth Management's holdings in Republic Services were worth $20,330,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. New Age Alpha Advisors LLC boosted its holdings in Republic Services by 70.2% during the fourth quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider's stock worth $36,000 after purchasing an additional 73 shares during the last quarter. Park Square Financial Group LLC bought a new stake in Republic Services in the fourth quarter worth about $44,000. Generali Asset Management SPA SGR bought a new stake in Republic Services in the fourth quarter worth about $45,000. Proathlete Wealth Management LLC bought a new stake in Republic Services in the first quarter worth about $76,000. Finally, Alpine Bank Wealth Management bought a new stake in Republic Services in the first quarter worth about $77,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. Melius assumed coverage on shares of Republic Services in a research report on Monday, June 9th. They issued a "hold" rating on the stock. UBS Group lifted their price objective 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. William Blair reaffirmed an "outperform" rating on shares of Republic Services in a research report on Friday, April 25th. National Bank Financial raised shares of Republic Services to a "hold" rating in a research report on Monday, May 26th. Finally, Scotiabank boosted their price target on shares of Republic Services from $233.00 to $250.00 and gave the company a "sector perform" rating in a research report on Tuesday, April 8th. Ten equities research 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 stock. According to data from MarketBeat, Republic Services presently has an average rating of "Moderate Buy" and an average target price of $252.68.

Republic Services Stock Performance

Republic Services stock opened at $244.27 on Friday. The firm's 50 day simple moving average is $248.90 and its 200 day simple moving average is $232.16. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $76.34 billion, a PE ratio of 36.84, a price-to-earnings-growth ratio of 3.75 and a beta of 0.63. 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 issued its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.53 by $0.05. Republic Services had a net margin of 12.88% and a return on equity of 18.28%. The firm had revenue of $4.01 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the prior year, the firm earned $1.45 EPS. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 2nd will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 0.95%. The ex-dividend date is Wednesday, July 2nd. Republic Services's dividend payout ratio is currently 34.99%.

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.

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