Miracle Mile Advisors LLC Increases Stock Position in Republic Services, Inc. (NYSE:RSG)

Miracle Mile Advisors LLC grew its position in shares of Republic Services, Inc. (NYSE:RSG) by 15.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,444 shares of the business services provider’s stock after purchasing an additional 473 shares during the period. Miracle Mile Advisors LLC’s holdings in Republic Services were worth $834,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Arcadia Investment Management Corp MI grew its holdings in 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 valued at $27,000 after buying an additional 88 shares in the last quarter. New Age Alpha Advisors LLC boosted its position in shares of Republic Services by 70.2% during the 4th quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 73 shares during the last quarter. Park Square Financial Group LLC purchased a new position in shares of Republic Services in the fourth quarter valued at $44,000. Generali Asset Management SPA SGR bought a new stake in Republic Services in the fourth quarter worth $45,000. Finally, Bank of Jackson Hole Trust purchased a new stake in Republic Services during the fourth quarter valued at $48,000. 57.73% of the stock is owned by institutional investors.

Republic Services Trading Down 1.4%

NYSE RSG opened at $249.38 on Tuesday. The stock has a market cap of $77.93 billion, a PE ratio of 38.42, a PEG ratio of 3.64 and a beta of 0.63. Republic Services, Inc. has a 12 month low of $185.07 and a 12 month high of $258.75. The company’s 50-day moving average price is $246.42 and its 200-day moving average price is $229.24. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04.

Republic Services (NYSE:RSG) last issued its earnings results 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 business had revenue of $4.01 billion for the quarter, compared to analyst estimates 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 period last year, the company posted $1.45 earnings per share. Equities research analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Wednesday, July 2nd will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Wednesday, July 2nd. Republic Services’s payout ratio is 34.99%.

Analyst Ratings Changes

A number of equities analysts have commented on RSG shares. JPMorgan Chase & Co. lifted their price objective on shares of Republic Services from $229.00 to $275.00 and gave the stock a “neutral” rating in a research note on Friday, May 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $266.00 price target on shares of Republic Services in a research report on Friday, April 25th. Raymond James reissued an “outperform” rating on shares of Republic Services in a research note on Wednesday, April 16th. Seaport Res Ptn raised Republic Services to a “strong-buy” rating in a research note on Tuesday, May 6th. Finally, Truist Financial boosted their target price on Republic Services from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, April 22nd. Ten investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock 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.