USA Financial Formulas Buys 842 Shares of Republic Services, Inc. (NYSE:RSG)

USA Financial Formulas raised its stake in Republic Services, Inc. (NYSE:RSG) by 55.7% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 2,353 shares of the business services provider’s stock after acquiring an additional 842 shares during the period. USA Financial Formulas’ holdings in Republic Services were worth $570,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Versant Capital Management Inc lifted its position in Republic Services by 0.4% during the first quarter. Versant Capital Management Inc now owns 9,973 shares of the business services provider’s stock worth $2,415,000 after purchasing an additional 44 shares during the period. Silvercrest Asset Management Group LLC lifted its position in Republic Services by 0.5% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 8,648 shares of the business services provider’s stock worth $1,740,000 after purchasing an additional 46 shares during the period. FORA Capital LLC lifted its position in Republic Services by 0.7% during the fourth quarter. FORA Capital LLC now owns 7,659 shares of the business services provider’s stock worth $1,541,000 after purchasing an additional 50 shares during the period. Rothschild Investment LLC lifted its position in Republic Services by 9.3% during the first quarter. Rothschild Investment LLC now owns 599 shares of the business services provider’s stock worth $145,000 after purchasing an additional 51 shares during the period. Finally, Tower Wealth Partners Inc. lifted its position in Republic Services by 3.3% during the fourth quarter. Tower Wealth Partners Inc. now owns 1,697 shares of the business services provider’s stock worth $341,000 after purchasing an additional 54 shares during the period. Institutional investors own 57.73% of the company’s stock.

Republic Services Stock Performance

Shares of RSG stock opened at $247.98 on Wednesday. The company has a market cap of $77.49 billion, a price-to-earnings ratio of 38.21, a price-to-earnings-growth ratio of 3.64 and a beta of 0.63. Republic Services, Inc. has a 52 week low of $185.07 and a 52 week high of $258.75. 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 firm has a 50 day moving average of $246.41 and a 200-day moving average of $229.37.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.05. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The business had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter last year, the firm posted $1.45 EPS. Republic Services’s revenue was up 3.8% compared to the same quarter last year. On average, equities analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Wednesday, July 2nd will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 0.94%. The ex-dividend date is Wednesday, July 2nd. Republic Services’s payout ratio is currently 34.99%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RSG. 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 report on Friday, April 11th. Stifel Nicolaus increased their target price on shares of Republic Services from $240.00 to $257.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. increased their target price on shares of Republic Services from $229.00 to $275.00 and gave the stock a “neutral” rating in a report on Friday, May 23rd. BMO Capital Markets reissued an “outperform” rating and issued a $280.00 target price (up previously from $268.00) on shares of Republic Services in a report on Monday. Finally, 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 report on Tuesday, April 22nd. Ten investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $252.68.

Republic Services Company 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.