NorthCrest Asset Manangement LLC Boosts Holdings in Republic Services, Inc. (NYSE:RSG)

NorthCrest Asset Manangement LLC lifted its position in shares of Republic Services, Inc. (NYSE:RSG) by 0.9% during the 4th quarter, HoldingsChannel reports. The fund owned 42,144 shares of the business services provider’s stock after purchasing an additional 373 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Republic Services were worth $8,479,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Arcadia Investment Management Corp MI raised its position in shares of Republic Services by 200.0% during the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock worth $27,000 after purchasing an additional 88 shares during the last quarter. R Squared Ltd purchased a new position in shares of Republic Services during the 4th quarter worth approximately $32,000. New Age Alpha Advisors LLC boosted its position in Republic Services by 70.2% in the 4th quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider’s stock valued at $36,000 after buying an additional 73 shares during the period. Park Square Financial Group LLC purchased a new stake in shares of Republic Services during the 4th quarter worth $44,000. Finally, Generali Asset Management SPA SGR acquired a new stake in Republic Services during the 4th quarter worth $45,000. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Stock Performance

RSG stock opened at $254.78 on Wednesday. The company has a market capitalization of $79.62 billion, a P/E ratio of 39.26, a PEG ratio of 3.64 and a beta of 0.66. The company has a 50-day simple moving average of $243.69 and a 200 day simple moving average of $226.46. Republic Services, Inc. has a fifty-two week low of $180.92 and a fifty-two week high of $255.67. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, April 24th. The business services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.05. The business 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 12.74% and a return on equity of 18.28%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.45 earnings per share. Sell-side analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders 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 yield of 0.91%. The ex-dividend date of this dividend is Wednesday, July 2nd. Republic Services’s payout ratio is 34.99%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on RSG shares. UBS Group lifted their price objective on shares of Republic Services from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Friday, April 11th. Wall Street Zen downgraded shares of Republic Services from a “buy” rating to a “hold” rating in a report on Saturday. Robert W. Baird upped their price target on shares of Republic Services from $232.00 to $245.00 and gave the company a “neutral” rating in a report on Friday, April 25th. Morgan Stanley upped their price objective on shares of Republic Services from $230.00 to $245.00 and gave the company an “equal weight” rating in a research note on Friday, April 25th. Finally, The Goldman Sachs Group upped their price objective on shares of Republic Services from $239.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Eight 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $250.44.

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.