Spire Wealth Management Boosts Holdings in Republic Services, Inc. (NYSE:RSG)

Spire Wealth Management boosted its position in Republic Services, Inc. (NYSE:RSG - Free Report) by 20.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,746 shares of the business services provider's stock after buying an additional 1,289 shares during the period. Spire Wealth Management's holdings in Republic Services were worth $1,876,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RSG. Versant Capital Management Inc increased its stake in shares of Republic Services by 0.4% during the 1st quarter. Versant Capital Management Inc now owns 9,973 shares of the business services provider's stock valued at $2,415,000 after acquiring an additional 44 shares during the last quarter. Silvercrest Asset Management Group LLC increased its stake in shares of Republic Services by 0.5% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 8,648 shares of the business services provider's stock valued at $1,740,000 after acquiring an additional 46 shares during the last quarter. Elevation Point Wealth Partners LLC increased its stake in shares of Republic Services by 4.2% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 1,154 shares of the business services provider's stock valued at $279,000 after acquiring an additional 46 shares during the last quarter. FORA Capital LLC increased its stake in shares of Republic Services by 0.7% during the 4th quarter. FORA Capital LLC now owns 7,659 shares of the business services provider's stock valued at $1,541,000 after acquiring an additional 50 shares during the last quarter. Finally, Rothschild Investment LLC increased its stake in shares of Republic Services by 9.3% during the 1st quarter. Rothschild Investment LLC now owns 599 shares of the business services provider's stock valued at $145,000 after acquiring an additional 51 shares during the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Stock Performance

Republic Services stock opened at $245.03 on Friday. The stock has a market cap of $76.57 billion, a P/E ratio of 36.96, a price-to-earnings-growth ratio of 3.74 and a beta of 0.63. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.10. The stock has a 50 day moving average of $248.88 and a 200-day moving average of $231.94. Republic Services, Inc. has a 52 week low of $188.82 and a 52 week 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 analysts' consensus estimates of $1.53 by $0.05. The firm had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a net margin of 12.88% and a return on equity of 18.28%. The firm's revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.45 earnings per share. On average, analysts expect that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Wednesday, July 2nd will be paid a dividend of $0.58 per share. The ex-dividend date is Wednesday, July 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.95%. Republic Services's dividend payout ratio is presently 34.99%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Melius Research raised shares of Republic Services to a "hold" rating and set a $281.00 price objective for the company in a research note on Monday, June 9th. Wall Street Zen downgraded shares of Republic Services from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Truist Financial increased their target price on shares of 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 increased their target price on shares of Republic Services from $240.00 to $250.00 and gave the stock a "neutral" rating in a research report on Friday, April 11th. Finally, Seaport Res Ptn raised shares of Republic Services to a "strong-buy" rating in a research report on Tuesday, May 6th. Ten equities research 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 company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $252.68.

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.

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