Ycg LLC Reduces Position in Republic Services, Inc. (NYSE:RSG)

Key Points

• Ycg LLC reduced its stake in Republic Services by 0.6%, now holding approximately 214,709 shares valued at about $51.99 million, making it the firm's 11th largest position.
• Republic Services increased its quarterly dividend from $0.58 to $0.625, reflecting an annual dividend yield of 1.1% for stockholders of record on October 2nd.
• The company reported a net margin of 12.97% and earnings per share of $1.77 for the last quarter, exceeding estimates and marking a 4.6% revenue increase year-over-year.

YCG LLC decreased its holdings in Republic Services, Inc. (NYSE:RSG - Free Report) by 0.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 214,709 shares of the business services provider's stock after selling 1,267 shares during the quarter. Republic Services accounts for about 4.1% of YCG LLC's investment portfolio, making the stock its 11th largest position. YCG LLC owned approximately 0.07% of Republic Services worth $51,994,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Versant Capital Management Inc lifted its position in shares of 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 valued at $2,415,000 after buying an additional 44 shares during the last quarter. Silvercrest Asset Management Group LLC lifted its position in shares of Republic Services by 0.5% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 8,648 shares of the business services provider's stock valued at $1,740,000 after buying an additional 46 shares during the last quarter. Elevation Point Wealth Partners LLC lifted its position in shares of Republic Services by 4.2% during 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 buying an additional 46 shares during the last quarter. Hemington Wealth Management lifted its position in shares of Republic Services by 6.2% during the first quarter. Hemington Wealth Management now owns 806 shares of the business services provider's stock valued at $195,000 after buying an additional 47 shares during the last quarter. Finally, FORA Capital LLC lifted its position in shares of Republic Services by 0.7% during the fourth quarter. FORA Capital LLC now owns 7,659 shares of the business services provider's stock valued at $1,541,000 after buying an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on RSG. National Bank Financial raised shares of Republic Services to a "hold" rating in a research report on Monday, May 26th. Citigroup increased their price objective on shares of Republic Services from $265.00 to $278.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Truist Financial increased their price objective on shares of Republic Services from $250.00 to $270.00 and gave the company a "buy" rating in a research report on Tuesday, April 22nd. UBS Group set a $260.00 price objective on shares of Republic Services and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Finally, Seaport Res Ptn raised shares of Republic Services to a "strong-buy" rating in a research report on Tuesday, May 6th. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $262.17.

Republic Services Price Performance

Republic Services stock traded down $0.10 during trading on Thursday, reaching $232.64. The company had a trading volume of 1,097,831 shares, compared to its average volume of 1,444,512. The firm's 50-day simple moving average is $242.03 and its 200 day simple moving average is $239.70. Republic Services, Inc. has a 1-year low of $197.60 and a 1-year high of $258.75. The firm has a market capitalization of $72.64 billion, a PE ratio of 34.41, a price-to-earnings-growth ratio of 3.63 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.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.76 by $0.01. The firm had revenue of $4.24 billion for the quarter, compared to analysts' expectations of $4.26 billion. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The firm's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.61 EPS. As a group, equities research analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be issued a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, October 2nd. This is a positive change 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%. Republic Services's payout ratio is currently 34.32%.

Republic Services Company 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.