MV Capital Management Inc. Boosts Holdings in Republic Services, Inc. (NYSE:RSG)

MV Capital Management Inc. grew its position in shares of Republic Services, Inc. (NYSE:RSG) by 447.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 630 shares of the business services provider’s stock after purchasing an additional 515 shares during the period. MV Capital Management Inc.’s holdings in Republic Services were worth $153,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in RSG. Brighton Jones LLC lifted its position in Republic Services by 75.8% during the fourth quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider’s stock valued at $3,988,000 after purchasing an additional 8,547 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new position in Republic Services in the fourth quarter worth $30,676,000. Empowered Funds LLC raised its position in Republic Services by 9.2% during the fourth quarter. Empowered Funds LLC now owns 16,571 shares of the business services provider’s stock valued at $3,324,000 after purchasing an additional 1,399 shares in the last quarter. Portfolio Design Labs LLC bought a new stake in Republic Services during the fourth quarter worth about $281,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Republic Services by 1.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,546,088 shares of the business services provider’s stock valued at $509,462,000 after purchasing an additional 25,350 shares during the last quarter. Institutional investors own 57.73% of the company’s stock.

Republic Services Trading Up 0.1%

Republic Services stock opened at $248.14 on Thursday. Republic Services, Inc. has a 52-week low of $185.07 and a 52-week high of $258.75. The company has a market cap of $77.54 billion, a P/E ratio of 38.23, a P/E/G ratio of 3.64 and a beta of 0.63. 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 business has a 50-day simple moving average of $246.67 and a two-hundred day simple moving average of $229.50.

Republic Services (NYSE:RSG) last announced its earnings results on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.05. The business had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Republic Services had a net margin of 12.74% 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 period in the prior year, the company earned $1.45 earnings per share. Analysts predict that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Wednesday, July 2nd will be given a dividend of $0.58 per share. The ex-dividend date is Wednesday, July 2nd. This represents a $2.32 annualized dividend and a yield of 0.93%. Republic Services’s dividend payout ratio (DPR) is presently 34.99%.

Analysts Set New Price Targets

Several analysts have issued reports on RSG shares. Robert W. Baird upped their target price on Republic Services from $232.00 to $245.00 and gave the stock a “neutral” rating in a research note on Friday, April 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $266.00 target price on shares of Republic Services in a research report on Friday, April 25th. Raymond James reaffirmed an “outperform” rating on shares of Republic Services in a research note on Wednesday, April 16th. Scotiabank boosted their target price on Republic Services from $233.00 to $250.00 and gave the company a “sector perform” rating in a research note on Tuesday, April 8th. Finally, Truist Financial lifted their price target on Republic Services from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday, April 22nd. Ten investment 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.com, Republic Services has a consensus rating of “Moderate Buy” and an average target price of $252.68.

About Republic Services

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.