Smallwood Wealth Investment Management LLC Invests $121,000 in Republic Services, Inc. (NYSE:RSG)

Smallwood Wealth Investment Management LLC acquired a new stake in shares of Republic Services, Inc. (NYSE:RSG) during the first quarter, HoldingsChannel reports. The fund acquired 500 shares of the business services provider’s stock, valued at approximately $121,000.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. National Bank Financial upgraded shares of Republic Services to a “hold” rating in a research report on Monday, May 26th. Morgan Stanley boosted their price objective on shares of Republic Services from $230.00 to $245.00 and gave the company an “equal weight” rating in a research report on Friday, April 25th. Wall Street Zen cut Republic Services from a “buy” rating to a “hold” rating in a report on Saturday, May 24th. Raymond James Financial reissued an “outperform” rating on shares of Republic Services in a report on Wednesday, April 16th. Finally, UBS Group raised their price objective on Republic Services from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Friday, April 11th. 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’s stock. According to MarketBeat, Republic Services presently has a consensus rating of “Moderate Buy” and an average target price of $252.68.

Republic Services Trading Up 0.9%

Shares of RSG opened at $246.48 on Tuesday. The firm has a market cap of $77.03 billion, a P/E ratio of 37.18, a price-to-earnings-growth ratio of 3.74 and a beta of 0.63. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.66 and a quick ratio of 0.66. Republic Services, Inc. has a 1 year low of $188.82 and a 1 year high of $258.75. The company has a 50 day simple moving average of $249.05 and a two-hundred day simple moving average of $232.73.

Republic Services (NYSE:RSG) last posted its earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.05. The company had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Republic Services had a net margin of 12.88% and a return on equity of 18.28%. Republic Services’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the company posted $1.45 earnings per share. On average, equities analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Wednesday, July 2nd will be issued a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $2.32 annualized dividend and a dividend yield of 0.94%. Republic Services’s dividend payout ratio (DPR) is 34.99%.

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.