Republic Services, Inc. (NYSE:RSG) Shares Sold by TCW Group Inc.

Key Points

• TCW Group Inc. has reduced its stake in Republic Services, Inc. by 7.3%, now holding 179,177 shares valued at approximately $43.39 million.
• The company's quarterly earnings beat expectations, reporting $1.58 EPS, with a year-over-year revenue increase of 3.8%, although slightly below analyst estimates.
• Republic Services announced a dividend increase to $0.625 per share, reflecting a 1.02% yield, with the ex-dividend date set for October 2nd.

TCW Group Inc. trimmed its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 7.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 179,177 shares of the business services provider's stock after selling 14,105 shares during the period. TCW Group Inc. owned 0.06% of Republic Services worth $43,390,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RSG. Versant Capital Management Inc lifted its stake in shares of Republic Services by 0.4% in 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 in the last quarter. Silvercrest Asset Management Group LLC lifted its stake in shares of Republic Services by 0.5% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 8,648 shares of the business services provider's stock worth $1,740,000 after buying an additional 46 shares in the last quarter. Elevation Point Wealth Partners LLC lifted its stake 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 worth $279,000 after buying an additional 46 shares in the last quarter. FORA Capital LLC lifted its stake 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 worth $1,541,000 after buying an additional 50 shares in the last quarter. Finally, Rothschild Investment LLC lifted its stake 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 worth $145,000 after buying an additional 51 shares in the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Stock Performance

NYSE:RSG traded down $0.27 during trading hours on Thursday, reaching $231.43. 1,220,867 shares of the company's stock were exchanged, compared to its average volume of 1,294,918. The firm has a market capitalization of $72.32 billion, a price-to-earnings ratio of 34.25, a P/E/G ratio of 3.74 and a beta of 0.61. The company has a 50-day moving average of $246.66 and a 200 day moving average of $238.06. 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 1-year low of $192.64 and a 1-year high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, topping analysts' consensus estimates of $1.76 by $0.01. The company had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.26 billion. Republic Services had a net margin of 12.97% and a return on equity of 18.52%. Republic Services's quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.61 EPS. Research analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $2.50 dividend on an annualized basis and a yield of 1.08%. This is an increase from Republic Services's previous quarterly dividend of $0.58. Republic Services's dividend payout ratio is presently 34.99%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Scotiabank lifted their target price on shares of Republic Services from $250.00 to $260.00 and gave the stock a "sector perform" rating in a research note on Friday, July 18th. UBS Group set a $260.00 target price on shares of Republic Services and gave the stock a "neutral" rating in a research note on Wednesday. Wall Street Zen downgraded shares of Republic Services from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. JPMorgan Chase & Co. lifted their target price on shares of Republic Services from $229.00 to $275.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Finally, Morgan Stanley boosted their price target on shares of Republic Services from $230.00 to $245.00 and gave the company an "equal weight" rating in a research note on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $258.89.

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.