Balboa Wealth Partners Purchases Shares of 839 Republic Services, Inc. (NYSE:RSG)

Balboa Wealth Partners acquired a new position in Republic Services, Inc. (NYSE:RSG) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 839 shares of the business services provider’s stock, valued at approximately $203,000.

Several other large investors have also recently modified their holdings of RSG. Vanguard Group Inc. increased its holdings in shares of Republic Services by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 18,590,728 shares of the business services provider’s stock valued at $3,740,083,000 after acquiring an additional 144,719 shares in the last quarter. Pictet Asset Management Holding SA grew its position in Republic Services by 3.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 6,262,325 shares of the business services provider’s stock worth $1,259,855,000 after purchasing an additional 218,729 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Republic Services by 10.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,317,804 shares of the business services provider’s stock valued at $1,069,836,000 after purchasing an additional 499,237 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Republic Services by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 4,565,137 shares of the business services provider’s stock worth $918,045,000 after buying an additional 57,616 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Republic Services during the fourth quarter worth $553,039,000. Institutional investors own 57.73% of the company’s stock.

Republic Services Trading Up 0.0%

Shares of RSG stock opened at $250.75 on Wednesday. Republic Services, Inc. has a fifty-two week low of $188.82 and a fifty-two week high of $258.75. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.66 and a current ratio of 0.66. The stock’s fifty day moving average is $248.83 and its two-hundred day moving average is $231.62. The firm has a market capitalization of $78.36 billion, a P/E ratio of 37.82, a PEG ratio of 3.84 and a beta of 0.63.

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 analysts’ consensus estimates of $1.53 by $0.05. Republic Services had a return on equity of 18.28% and a net margin of 12.88%. The business had revenue of $4.01 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same period in the prior year, the business earned $1.45 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. Research analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors 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 dividend yield of 0.93%. The ex-dividend date is Wednesday, July 2nd. Republic Services’s dividend payout ratio is currently 34.99%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on RSG shares. Citigroup upped their target price on Republic Services from $265.00 to $278.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. JPMorgan Chase & Co. raised their price objective on Republic Services from $229.00 to $275.00 and gave the stock a “neutral” rating in a research note on Friday, May 23rd. Scotiabank lifted their target price on Republic Services from $233.00 to $250.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 8th. Melius began coverage on shares of Republic Services in a research note on Monday, June 9th. They set a “hold” rating for the company. Finally, Wall Street Zen downgraded shares of Republic Services from a “buy” rating to a “hold” rating in a report on Saturday, May 24th. Ten analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.