Russell Investments Group Ltd. Sells 1,094 Shares of Republic Services, Inc. (NYSE:RSG)

Key Points

• Russell Investments Group Ltd. reduced its stake in Republic Services by 0.5%, now owning 212,644 shares worth approximately $51.48 million.
• Republic Services reported $1.77 EPS, slightly surpassing the consensus estimate of $1.76, with revenue of $4.24 billion for the quarter.
• The company announced a quarterly dividend increase to $0.625 per share, reflecting a dividend yield of 1.1% and set to be paid on October 15th.

Russell Investments Group Ltd. lowered its stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 0.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 212,644 shares of the business services provider's stock after selling 1,094 shares during the period. Russell Investments Group Ltd. owned 0.07% of Republic Services worth $51,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC increased its position in 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. Capital Management Associates Inc bought a new stake in Republic Services in the first quarter worth $314,000. Sumitomo Mitsui Trust Group Inc. increased its position in Republic Services by 0.7% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 563,253 shares of the business services provider's stock worth $136,397,000 after purchasing an additional 4,110 shares during the last quarter. Sowell Financial Services LLC bought a new stake in Republic Services in the first quarter worth $260,000. Finally, GAMMA Investing LLC increased its position in Republic Services by 61.6% in the first quarter. GAMMA Investing LLC now owns 9,193 shares of the business services provider's stock worth $2,226,000 after purchasing an additional 3,503 shares during the last quarter. Institutional investors own 57.73% of the company's stock.

Republic Services Stock Performance

Shares of Republic Services stock opened at $232.70 on Thursday. The company has a market capitalization of $72.65 billion, a PE ratio of 34.42, a P/E/G ratio of 3.64 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. The company has a 50-day simple moving average of $242.43 and a two-hundred day simple moving average of $239.58. Republic Services, Inc. has a one year low of $197.60 and a one year high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings data 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. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The firm had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter in the prior year, the company posted $1.61 earnings per share. The company's revenue for the quarter was up 4.6% compared to the same quarter last year. Research analysts expect that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Increases Dividend

The business also recently disclosed 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. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. This is an increase from Republic Services's previous quarterly dividend of $0.58. The ex-dividend date is Thursday, October 2nd. Republic Services's dividend payout ratio is currently 34.32%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Robert W. Baird lifted their price objective on shares of Republic Services from $232.00 to $245.00 and gave the stock a "neutral" rating in a research note on Friday, April 25th. Citigroup lifted their price objective on shares of Republic Services from $265.00 to $278.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. National Bank Financial raised shares of Republic Services to a "hold" rating in a research note on Monday, May 26th. Raymond James Financial lifted their price objective on shares of Republic Services from $257.00 to $260.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Finally, Wall Street Zen lowered shares of Republic Services from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Nine equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $262.17.

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.

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