Heirloom Wealth Management Has $20.33 Million Stake in Republic Services, Inc. (NYSE:RSG)

Heirloom Wealth Management grew its stake in shares of Republic Services, Inc. (NYSE:RSG) by 3.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 83,953 shares of the business services provider’s stock after buying an additional 3,047 shares during the quarter. Republic Services accounts for approximately 5.8% of Heirloom Wealth Management’s portfolio, making the stock its 5th largest holding. Heirloom Wealth Management’s holdings in Republic Services were worth $20,330,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. lifted its position in Republic Services by 18.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,955 shares of the business services provider’s stock valued at $4,999,000 after purchasing an additional 3,273 shares during the last quarter. Money Concepts Capital Corp lifted its position in Republic Services by 48.6% in the first quarter. Money Concepts Capital Corp now owns 5,088 shares of the business services provider’s stock valued at $1,232,000 after purchasing an additional 1,664 shares during the last quarter. Achmea Investment Management B.V. lifted its position in Republic Services by 19.2% in the first quarter. Achmea Investment Management B.V. now owns 130,196 shares of the business services provider’s stock valued at $31,528,000 after purchasing an additional 20,965 shares during the last quarter. Diversified Trust Co lifted its position in Republic Services by 10.1% in the first quarter. Diversified Trust Co now owns 1,692 shares of the business services provider’s stock valued at $410,000 after purchasing an additional 155 shares during the last quarter. Finally, Board of the Pension Protection Fund lifted its position in Republic Services by 31.7% in the first quarter. Board of the Pension Protection Fund now owns 5,400 shares of the business services provider’s stock valued at $1,308,000 after purchasing an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Analyst Ratings Changes

RSG has been the subject of several recent research reports. CIBC upgraded Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 price objective for the company in a research report on Tuesday, March 4th. Royal Bank Of Canada restated an “outperform” rating and set a $266.00 target price on shares of Republic Services in a report on Friday, April 25th. Melius Research upgraded Republic Services to a “hold” rating and set a $281.00 target price for the company in a report on Monday, June 9th. Melius initiated coverage on Republic Services in a report on Monday, June 9th. They set a “hold” rating for the company. Finally, Raymond James Financial restated an “outperform” rating on shares of Republic Services in a report on Wednesday, April 16th. Ten research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $252.68.

Republic Services Price Performance

RSG opened at $244.27 on Friday. The stock has a fifty day simple moving average of $248.90 and a two-hundred day simple moving average of $232.16. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.10. The company has a market cap of $76.34 billion, a price-to-earnings ratio of 36.84, a price-to-earnings-growth ratio of 3.75 and a beta of 0.63. Republic Services, Inc. has a 12-month low of $188.82 and a 12-month high of $258.75.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, April 24th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $4.08 billion. During the same quarter in the prior year, the company earned $1.45 earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. Research analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Wednesday, July 2nd will be paid a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.95%. Republic Services’s dividend payout ratio is currently 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.