Cobblestone Capital Advisors LLC NY Buys 5,954 Shares of Republic Services, Inc. (NYSE:RSG)

Key Points

• Cobblestone Capital Advisors LLC NY increased its holdings in Republic Services, Inc. by 7.5% during the first quarter, bringing their total shares owned to 85,469, valued at approximately $20.7 million.
• Republic Services announced a quarterly dividend increase to $0.625, representing an annualized yield of 1.1%, set to be paid on October 15th.
• The company reported $1.77 EPS for the last quarter, exceeding estimates, with a revenue of $4.24 billion up 4.6% from the previous year.

Cobblestone Capital Advisors LLC NY lifted its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 7.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,469 shares of the business services provider's stock after purchasing an additional 5,954 shares during the quarter. Republic Services accounts for about 1.1% of Cobblestone Capital Advisors LLC NY's portfolio, making the stock its 24th biggest position. Cobblestone Capital Advisors LLC NY's holdings in Republic Services were worth $20,697,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of RSG. Golden State Wealth Management LLC raised 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 valued at $26,000 after buying an additional 106 shares during the last quarter. Key Financial Inc raised 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 valued at $30,000 after buying an additional 99 shares during the last quarter. TCTC Holdings LLC raised 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 valued at $30,000 after buying an additional 66 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in Republic Services in the 4th quarter valued at approximately $44,000. Finally, Cheviot Value Management LLC acquired a new stake in Republic Services in the 1st quarter valued at approximately $49,000. Institutional investors and hedge funds own 57.73% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on RSG. Truist Financial boosted their price target on Republic Services from $250.00 to $270.00 and gave the stock a "buy" rating in a research report on Tuesday, April 22nd. UBS Group set a $260.00 price target on Republic Services and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. National Bank Financial raised Republic Services to a "hold" rating in a research report on Monday, May 26th. Oppenheimer boosted their price target on Republic Services from $262.00 to $268.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Finally, Melius Research raised Republic Services to a "hold" rating and set a $281.00 price target on the stock in a research report on Monday, June 9th. Nine analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $262.17.

Republic Services Stock Performance

RSG traded up $1.72 during trading on Monday, hitting $236.93. The stock had a trading volume of 904,235 shares, compared to its average volume of 1,431,663. The company has a 50 day moving average price of $243.33 and a 200-day moving average price of $239.67. The firm has a market cap of $73.97 billion, a price-to-earnings ratio of 35.05, a P/E/G ratio of 3.67 and a beta of 0.60. Republic Services, Inc. has a one year low of $197.60 and a one year 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 released its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.01. The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.26 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%. The firm's quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.61 EPS. As a group, research analysts predict that Republic Services, Inc. will post 6.86 EPS for the current 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 given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Thursday, October 2nd. This is a positive change from Republic Services's previous quarterly dividend of $0.58. Republic Services's dividend 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.