Jupiter Asset Management Ltd. Has $34.13 Million Stake in Republic Services, Inc. (NYSE:RSG)

Key Points

• Jupiter Asset Management Ltd. has reduced its stake in Republic Services, Inc. (NYSE:RSG) by 11.9%, selling 19,127 shares during the first quarter, leaving them with 140,956 shares valued at approximately $34.1 million.
• Republic Services recently announced a quarterly dividend increase to $0.625 per share, up from the previous $0.58, signifying a positive trend for shareholders.
• Analysts maintain a "Moderate Buy" consensus on Republic Services, with recent price target increases from firms like Citigroup and Scotiabank, indicating a growing confidence in the stock's performance.

Jupiter Asset Management Ltd. lowered its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 11.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 140,956 shares of the business services provider's stock after selling 19,127 shares during the quarter. Jupiter Asset Management Ltd.'s holdings in Republic Services were worth $34,134,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of RSG. Golden State Wealth Management LLC raised its position in shares of Republic Services by 3,533.3% in the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock valued at $26,000 after purchasing an additional 106 shares in the last quarter. TCTC Holdings LLC raised its position in shares of Republic Services by 113.8% in the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock valued at $30,000 after purchasing an additional 66 shares in the last quarter. Key Financial Inc raised its position in shares of Republic Services by 380.8% in the 1st quarter. Key Financial Inc now owns 125 shares of the business services provider's stock valued at $30,000 after purchasing an additional 99 shares in the last quarter. New Age Alpha Advisors LLC raised its position in shares of Republic Services by 70.2% in the 4th quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider's stock valued at $36,000 after purchasing an additional 73 shares in the last quarter. Finally, Park Square Financial Group LLC acquired a new position in shares of Republic Services in the 4th quarter valued at approximately $44,000. Hedge funds and other institutional investors own 57.73% of the company's stock.

Republic Services Stock Up 0.3%

Republic Services stock traded up $0.59 during mid-day trading on Friday, hitting $231.24. The company's stock had a trading volume of 1,481,289 shares, compared to its average volume of 1,484,712. The firm's 50 day moving average is $245.82 and its 200 day moving average is $238.77. The company has a market cap of $72.20 billion, a PE ratio of 34.21, a price-to-earnings-growth ratio of 3.61 and a beta of 0.60. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66. Republic Services, Inc. has a 52-week low of $193.75 and a 52-week high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $4.26 billion. During the same period last year, the business earned $1.61 EPS. The business's quarterly revenue was up 4.6% on a year-over-year basis. On average, analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be paid a dividend of $0.625 per share. 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 dividend payout ratio (DPR) is 34.32%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. National Bank Financial raised Republic Services to a "hold" rating in a research report on Monday, May 26th. JPMorgan Chase & Co. upped their price target on Republic Services from $229.00 to $275.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Melius initiated coverage on Republic Services in a research report on Monday, June 9th. They set a "hold" rating on the stock. William Blair reissued an "outperform" rating on shares of Republic Services in a research report on Friday, April 25th. Finally, Oppenheimer upped their price target on Republic Services from $262.00 to $268.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Ten research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $258.89.

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.