Republic Services, Inc. (NYSE:RSG) Shares Bought by City Holding Co.

City Holding Co. raised its stake in Republic Services, Inc. (NYSE:RSG) by 5.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,848 shares of the business services provider’s stock after purchasing an additional 851 shares during the period. City Holding Co.’s holdings in Republic Services were worth $4,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in RSG. Norges Bank acquired a new position in Republic Services during the 4th quarter worth approximately $553,039,000. GAMMA Investing LLC lifted its position in shares of Republic Services by 39,024.4% during the 1st quarter. GAMMA Investing LLC now owns 2,226,177 shares of the business services provider’s stock worth $539,091,000 after buying an additional 2,220,487 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Republic Services in the fourth quarter valued at approximately $184,827,000. Price T Rowe Associates Inc. MD grew its position in shares of Republic Services by 10.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,317,804 shares of the business services provider’s stock worth $1,069,836,000 after acquiring an additional 499,237 shares during the last quarter. Finally, Alyeska Investment Group L.P. increased its holdings in shares of Republic Services by 170.6% in 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 acquiring an additional 368,395 shares during the period. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RSG shares. Truist Financial increased their price target on shares of Republic Services from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday, April 22nd. Stifel Nicolaus upped their target price on shares of Republic Services from $240.00 to $257.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Scotiabank raised their price target on Republic Services from $233.00 to $250.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 8th. Royal Bank of Canada restated an “outperform” rating and issued a $266.00 price target on shares of Republic Services in a research report on Friday, April 25th. Finally, Robert W. Baird increased their price objective on Republic Services from $232.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, April 25th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $250.44.

Republic Services Stock Performance

NYSE:RSG opened at $252.93 on Monday. The firm’s fifty day simple moving average is $246.33 and its 200-day simple moving average is $229.01. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. The stock has a market cap of $79.04 billion, a PE ratio of 38.97, a price-to-earnings-growth ratio of 3.64 and a beta of 0.63. Republic Services, Inc. has a fifty-two week low of $185.07 and a fifty-two week high of $258.75.

Republic Services (NYSE:RSG) 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. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The firm had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the previous year, the firm earned $1.45 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. Analysts expect that Republic Services, Inc. will post 6.86 earnings per share 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. Shareholders of record on Wednesday, July 2nd will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 0.92%. 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.