Rathbones Group PLC Cuts Stake in Republic Services, Inc. (NYSE:RSG)

Key Points

• Rathbones Group PLC has reduced its holdings in Republic Services, Inc. by 3.2%, now owning 83,973 shares valued at approximately $20.34 million.
• Republic Services recently reported earnings of $1.77 EPS for the quarter, slightly exceeding analysts' expectations of $1.76, with quarterly revenue increasing by 4.6% year-over-year to $4.24 billion.
• The company announced an increase in its quarterly dividend from $0.58 to $0.625 per share, indicating a robust dividend yield of 1.1% and a payout ratio of 34.32%.

Rathbones Group PLC lessened its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 3.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 83,973 shares of the business services provider's stock after selling 2,796 shares during the quarter. Rathbones Group PLC's holdings in Republic Services were worth $20,335,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Golden State Wealth Management LLC lifted its position in 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 worth $26,000 after buying an additional 106 shares during the last quarter. Key Financial Inc lifted its position in Republic Services by 380.8% in the 1st quarter. Key Financial Inc now owns 125 shares of the business services provider's stock worth $30,000 after buying an additional 99 shares during the last quarter. TCTC Holdings LLC lifted its position in Republic Services by 113.8% in the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock worth $30,000 after buying an additional 66 shares during the last quarter. Park Square Financial Group LLC bought a new stake in Republic Services in the 4th quarter worth approximately $44,000. Finally, Cheviot Value Management LLC bought a new stake in Republic Services in the 1st quarter worth approximately $49,000. Institutional investors own 57.73% of the company's stock.

Analysts Set New Price Targets

RSG has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on Republic Services from $229.00 to $275.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Melius Research upgraded Republic Services to a "hold" rating and set a $281.00 price objective for the company in a research report on Monday, June 9th. Morgan Stanley boosted their price objective on Republic Services from $230.00 to $245.00 and gave the company an "equal weight" rating in a research report on Friday, April 25th. Melius initiated coverage on Republic Services in a research report on Monday, June 9th. They issued a "hold" rating for the company. Finally, National Bank Financial upgraded Republic Services to a "hold" rating in a research report on Monday, May 26th. Nine investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $262.17.

Republic Services Stock Down 0.0%

RSG stock traded down $0.10 during midday trading on Thursday, hitting $232.64. The stock had a trading volume of 1,097,831 shares, compared to its average volume of 1,444,512. The firm has a market cap of $72.64 billion, a price-to-earnings ratio of 34.41, a price-to-earnings-growth ratio of 3.63 and a beta of 0.60. The business has a 50-day moving average of $242.03 and a two-hundred day moving average of $239.70. Republic Services, Inc. has a 52-week low of $197.60 and a 52-week high of $258.75. 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 (NYSE:RSG - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.01. The company had revenue of $4.24 billion for the quarter, compared to analysts' expectations of $4.26 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%. The firm's revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.61 earnings per share. As a group, equities research analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Increases Dividend

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

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.