Hemington Wealth Management Increases Stake in Republic Services, Inc. (NYSE:RSG)

Hemington Wealth Management lifted its holdings in Republic Services, Inc. (NYSE:RSG) by 6.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 806 shares of the business services provider’s stock after purchasing an additional 47 shares during the quarter. Hemington Wealth Management’s holdings in Republic Services were worth $195,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC raised its holdings in shares of Republic Services by 3,533.3% in the first quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 106 shares in the last quarter. Capital Management Associates Inc bought a new position in Republic Services in the first quarter worth about $314,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in Republic Services by 0.7% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 563,253 shares of the business services provider’s stock worth $136,397,000 after purchasing an additional 4,110 shares in the last quarter. Sowell Financial Services LLC bought a new position in Republic Services in the first quarter worth about $260,000. Finally, GAMMA Investing LLC raised its holdings in Republic Services by 61.6% in the first quarter. GAMMA Investing LLC now owns 9,193 shares of the business services provider’s stock worth $2,226,000 after purchasing an additional 3,503 shares in the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Trading Up 0.2%

Republic Services stock opened at $232.27 on Wednesday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a 12 month low of $195.36 and a 12 month high of $258.75. The stock’s 50 day simple moving average is $244.95 and its two-hundred day simple moving average is $238.85. The firm has a market cap of $72.52 billion, a PE ratio of 34.36, a P/E/G ratio of 3.61 and a beta of 0.60.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, topping the consensus estimate of $1.76 by $0.01. Republic Services had a return on equity of 18.27% and a net margin of 12.97%. The business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same quarter in the prior year, the firm posted $1.61 EPS. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. Analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be given a $0.625 dividend. The ex-dividend date is Thursday, October 2nd. This represents a $2.50 annualized dividend and a yield of 1.1%. This is a boost from Republic Services’s previous quarterly dividend of $0.58. Republic Services’s payout ratio is currently 34.32%.

Analyst Ratings Changes

RSG has been the subject of a number of recent research reports. Morgan Stanley boosted their target price on shares of Republic Services from $230.00 to $245.00 and gave the stock an “equal weight” rating in a report on Friday, April 25th. Melius started coverage on shares of Republic Services in a report on Monday, June 9th. They issued a “hold” rating for the company. BMO Capital Markets upped their price objective on shares of Republic Services from $280.00 to $284.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. National Bank Financial upgraded shares of Republic Services to a “hold” rating in a report on Monday, May 26th. Finally, Citigroup upped their price objective on shares of Republic Services from $265.00 to $278.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Nine investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $262.17.

Republic Services Company 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.