Rossby Financial LCC Acquires 1,040 Shares of Republic Services, Inc. (NYSE:RSG)

Rossby Financial LCC boosted its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 90.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,190 shares of the business services provider's stock after acquiring an additional 1,040 shares during the period. Rossby Financial LCC's holdings in Republic Services were worth $533,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Golden State Wealth Management LLC raised its stake in shares of Republic Services by 3,533.3% in the first quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock worth $26,000 after purchasing an additional 106 shares during the last quarter. New Age Alpha Advisors LLC raised its stake in shares of Republic Services by 70.2% in the fourth quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider's stock worth $36,000 after purchasing an additional 73 shares during the last quarter. Park Square Financial Group LLC purchased a new stake in shares of Republic Services in the fourth quarter worth approximately $44,000. Generali Asset Management SPA SGR purchased a new stake in shares of Republic Services in the fourth quarter worth approximately $45,000. Finally, Proathlete Wealth Management LLC purchased a new stake in shares of Republic Services in the first quarter worth approximately $76,000. Institutional investors own 57.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on RSG shares. BMO Capital Markets reissued an "outperform" rating and issued a $280.00 price objective (up from $268.00) on shares of Republic Services in a research note on Monday, June 9th. JPMorgan Chase & Co. increased 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. Citigroup increased their price target on 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 target on Republic Services from $250.00 to $270.00 and gave the company a "buy" rating in a research report on Tuesday, April 22nd. Finally, National Bank Financial raised Republic Services to a "hold" rating in a research report on Monday, May 26th. Ten investment 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $252.68.

Republic Services Stock Performance

Shares of Republic Services stock traded up $3.45 during trading hours on Friday, reaching $241.14. The company had a trading volume of 1,261,978 shares, compared to its average volume of 1,141,301. Republic Services, Inc. has a one year low of $188.82 and a one year high of $258.75. The business has a fifty day simple moving average of $248.98 and a 200 day simple moving average of $233.53. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a market cap of $75.36 billion, a PE ratio of 36.37, a price-to-earnings-growth ratio of 3.69 and a beta of 0.61.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.53 by $0.05. Republic Services had a return on equity of 18.28% and a net margin of 12.88%. The firm had revenue of $4.01 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same period last year, the company earned $1.45 earnings per share. The business's revenue for the quarter was up 3.8% on a year-over-year basis. On average, analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Wednesday, July 2nd will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Wednesday, July 2nd. Republic Services's payout ratio is currently 34.99%.

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.