Townsquare Capital LLC Increases Stake in Republic Services, Inc. (NYSE:RSG)

Key Points

• Townsquare Capital LLC increased its stake in Republic Services by 8.4% during the first quarter, bringing its total holdings to 63,903 shares valued at approximately $15.5 million.
• Republic Services recently announced a dividend increase, with the quarterly dividend rising from $0.58 to $0.625, reflecting a 1.1% yield.
• The company reported $1.77 EPS for the last quarter, exceeding expectations, and its revenue was up 4.6% year-over-year despite missing analysts' expectations.

Townsquare Capital LLC boosted its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 8.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,903 shares of the business services provider's stock after acquiring an additional 4,961 shares during the period. Townsquare Capital LLC's holdings in Republic Services were worth $15,475,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Founders Financial Alliance LLC boosted its holdings in shares of Republic Services by 22.3% during the 1st quarter. Founders Financial Alliance LLC now owns 1,572 shares of the business services provider's stock worth $381,000 after buying an additional 287 shares in the last quarter. National Bank of Canada FI raised its position in shares of Republic Services by 63.4% during the first quarter. National Bank of Canada FI now owns 379,358 shares of the business services provider's stock worth $91,863,000 after purchasing an additional 147,241 shares during the period. Citigroup Inc. raised its position in shares of Republic Services by 126.2% during the first quarter. Citigroup Inc. now owns 361,341 shares of the business services provider's stock worth $87,502,000 after purchasing an additional 201,626 shares during the period. AlphaCore Capital LLC acquired a new position in shares of Republic Services during the first quarter worth approximately $356,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Republic Services by 14.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 383,209 shares of the business services provider's stock worth $92,798,000 after purchasing an additional 47,770 shares during the period. 57.73% of the stock is currently owned by institutional investors.

Republic Services Price Performance

NYSE RSG traded down $3.40 during trading hours on Tuesday, hitting $233.64. The company had a trading volume of 522,456 shares, compared to its average volume of 1,298,926. The firm has a market capitalization of $72.95 billion, a price-to-earnings ratio of 34.56, a PEG ratio of 3.67 and a beta of 0.60. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a 50 day simple moving average of $243.33 and a 200 day simple moving average of $239.67. Republic Services, Inc. has a 52 week low of $197.60 and a 52 week high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, topping the consensus estimate of $1.76 by $0.01. Republic Services had a return on equity of 18.27% and a net margin of 12.97%. The company had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.26 billion. During the same quarter in the previous year, the firm earned $1.61 earnings per share. Republic Services's revenue was up 4.6% on a year-over-year basis. Equities research analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RSG. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $266.00 target price on shares of Republic Services in a research report on Friday, April 25th. Melius began coverage on Republic Services in a research report on Monday, June 9th. They issued a "hold" rating for the company. Citigroup increased their price target on Republic Services from $265.00 to $278.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. William Blair reissued an "outperform" rating on shares of Republic Services in a research report on Friday, April 25th. Finally, Raymond James Financial raised their target price on Republic Services from $257.00 to $260.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Nine research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Republic Services presently has an average rating of "Moderate Buy" and an average price target of $262.17.

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.