Federated Hermes Inc. Acquires 307 Shares of Republic Services, Inc. (NYSE:RSG)

Federated Hermes Inc. raised its holdings in shares of Republic Services, Inc. (NYSE:RSG) by 2.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 14,250 shares of the business services provider’s stock after acquiring an additional 307 shares during the period. Federated Hermes Inc.’s holdings in Republic Services were worth $3,451,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in RSG. Golden State Wealth Management LLC increased its position in shares of Republic Services by 3,533.3% in the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider’s stock valued at $26,000 after buying an additional 106 shares in the last quarter. Key Financial Inc increased its position in shares of Republic Services by 380.8% in the 1st quarter. Key Financial Inc now owns 125 shares of the business services provider’s stock valued at $30,000 after buying an additional 99 shares in the last quarter. TCTC Holdings LLC increased its position in shares of Republic Services by 113.8% in the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider’s stock valued at $30,000 after buying an additional 66 shares in the last quarter. Park Square Financial Group LLC bought a new stake in shares of Republic Services in the 4th quarter valued at $44,000. Finally, Proathlete Wealth Management LLC bought a new stake in shares of Republic Services in the 1st quarter valued at $76,000. Institutional investors own 57.73% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. UBS Group set a $260.00 price objective on shares of Republic Services and gave the company a “neutral” rating in a research report on Wednesday, July 30th. Melius Research upgraded shares of Republic Services to a “hold” rating and set a $281.00 price objective for the company in a research report on Monday, June 9th. Melius began coverage on shares of Republic Services in a research note on Monday, June 9th. They issued a “hold” rating for the company. Scotiabank upped their target price on shares of Republic Services from $250.00 to $260.00 and gave the stock a “sector perform” rating in a research note on Friday, July 18th. Finally, Raymond James Financial upped their target price on shares of Republic Services from $257.00 to $260.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 22nd. Ten research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $258.89.

Republic Services Trading Up 0.2%

Republic Services stock opened at $231.60 on Tuesday. The firm has a 50-day moving average of $245.40 and a 200-day moving average of $238.90. Republic Services, Inc. has a one year low of $193.75 and a one year high of $258.75. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market cap of $72.31 billion, a price-to-earnings ratio of 34.26, a P/E/G ratio of 3.61 and a beta of 0.60.

Republic Services (NYSE:RSG) last issued its earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.01. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same period last year, the business posted $1.61 EPS. Republic Services’s revenue was up 4.6% on a year-over-year basis. On average, equities analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd will be paid a $0.625 dividend. This is an increase from Republic Services’s previous quarterly dividend of $0.58. The ex-dividend date is Thursday, October 2nd. This represents a $2.50 annualized dividend and a yield of 1.1%. Republic Services’s dividend payout ratio (DPR) is 36.98%.

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.