HB Wealth Management LLC Grows Position in Republic Services, Inc. (NYSE:RSG)

Key Points

• HB Wealth Management LLC increased its holdings in Republic Services by 95.6%, owning 28,473 shares valued at approximately $6.9 million as of the latest report.
• Republic Services declared a quarterly dividend increase to $0.625 per share, reflecting positive growth from the previous dividend of $0.58, with a dividend yield of 1.02%.
• The company reported $1.58 EPS in its recent quarter, surpassing estimates, while revenue rose 3.8% year-over-year but fell short of analyst expectations.

HB Wealth Management LLC lifted its stake in Republic Services, Inc. (NYSE:RSG - Free Report) by 95.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 28,473 shares of the business services provider's stock after acquiring an additional 13,913 shares during the quarter. HB Wealth Management LLC's holdings in Republic Services were worth $6,895,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Versant Capital Management Inc increased its position in Republic Services by 0.4% during the first quarter. Versant Capital Management Inc now owns 9,973 shares of the business services provider's stock worth $2,415,000 after buying an additional 44 shares during the last quarter. Silvercrest Asset Management Group LLC increased its holdings 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 acquiring an additional 46 shares during the last quarter. Elevation Point Wealth Partners LLC increased its holdings in shares of Republic Services by 4.2% in the first quarter. Elevation Point Wealth Partners LLC now owns 1,154 shares of the business services provider's stock valued at $279,000 after purchasing an additional 46 shares during the last quarter. FORA Capital LLC increased its holdings in shares of Republic Services by 0.7% in the fourth quarter. FORA Capital LLC now owns 7,659 shares of the business services provider's stock valued at $1,541,000 after purchasing an additional 50 shares during the last quarter. Finally, Rothschild Investment LLC increased its holdings in shares of Republic Services by 9.3% in the first quarter. Rothschild Investment LLC now owns 599 shares of the business services provider's stock valued at $145,000 after purchasing an additional 51 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company's stock.

Republic Services Trading Down 5.1%

RSG traded down $12.56 during trading on Wednesday, hitting $233.45. The company's stock had a trading volume of 1,283,614 shares, compared to its average volume of 1,281,985. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.10. Republic Services, Inc. has a twelve month low of $192.64 and a twelve month high of $258.75. The stock's fifty day moving average price is $247.06 and its 200-day moving average price is $238.10. The firm has a market capitalization of $72.95 billion, a P/E ratio of 35.26, a PEG ratio of 3.67 and a beta of 0.61.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.01. The firm had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.26 billion. Republic Services had a net margin of 12.88% and a return on equity of 18.28%. The business's quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.61 earnings per share. Analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be issued a dividend of $0.625 per share. This is an increase from Republic Services's previous quarterly dividend of $0.58. The ex-dividend date is Thursday, October 2nd. This represents a $2.50 annualized dividend and a yield of 1.07%. Republic Services's dividend payout ratio is presently 34.99%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RSG shares. Wall Street Zen lowered shares of Republic Services from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. William Blair reaffirmed an "outperform" rating on shares of Republic Services in a research report on Friday, April 25th. UBS Group upped their price objective on Republic Services from $250.00 to $260.00 and gave the company a "neutral" rating in a report on Wednesday. Truist Financial upped their price target on shares of Republic Services from $250.00 to $270.00 and gave the company a "buy" rating in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. increased their target price 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. Ten 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $258.68.

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.