Secure Asset Management LLC Makes New $298,000 Investment in Republic Services, Inc. (NYSE:RSG)

Secure Asset Management LLC bought a new stake in shares of Republic Services, Inc. (NYSE:RSG - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,232 shares of the business services provider's stock, valued at approximately $298,000.

A number of other hedge funds also recently made changes to their positions in RSG. Norges Bank bought a new stake in shares of Republic Services in the fourth quarter valued at $553,039,000. GAMMA Investing LLC boosted its position in Republic Services by 39,024.4% during the first quarter. GAMMA Investing LLC now owns 2,226,177 shares of the business services provider's stock worth $539,091,000 after purchasing an additional 2,220,487 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Republic Services in the fourth quarter worth about $184,827,000. Price T Rowe Associates Inc. MD raised its position in shares of Republic Services by 10.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,317,804 shares of the business services provider's stock valued at $1,069,836,000 after purchasing an additional 499,237 shares during the period. Finally, Alyeska Investment Group L.P. lifted its stake in shares of Republic Services by 170.6% during the 4th quarter. Alyeska Investment Group L.P. now owns 584,345 shares of the business services provider's stock valued at $117,559,000 after buying an additional 368,395 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RSG has been the subject of a number of analyst reports. Truist Financial raised their price target on Republic Services from $250.00 to $270.00 and gave the stock a "buy" rating in a report on Tuesday, April 22nd. Argus set a $260.00 target price on Republic Services in a report on Tuesday, February 18th. Raymond James restated an "outperform" rating on shares of Republic Services in a research report on Wednesday, April 16th. Scotiabank upped their price target on shares of Republic Services from $233.00 to $250.00 and gave the stock a "sector perform" rating in a report on Tuesday, April 8th. Finally, The Goldman Sachs Group upped their target price on Republic Services from $239.00 to $265.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Republic Services presently has an average rating of "Moderate Buy" and an average target price of $250.44.

Republic Services Trading Down 0.1%

NYSE:RSG traded down $0.23 during trading hours on Friday, reaching $252.93. The company's stock had a trading volume of 709,641 shares, compared to its average volume of 1,131,572. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. The firm has a market capitalization of $79.04 billion, a price-to-earnings ratio of 38.97, a PEG ratio of 3.64 and a beta of 0.63. The firm has a 50-day simple moving average of $246.14 and a 200-day simple moving average of $228.51. Republic Services, Inc. has a 1 year low of $185.07 and a 1 year high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.53 by $0.05. The firm had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The company's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.45 earnings per share. Research analysts expect that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Wednesday, July 2nd will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Wednesday, July 2nd. Republic Services's payout ratio is 34.99%.

Republic Services 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.