Republic Services, Inc. $RSG Shares Purchased by Brooklyn Investment Group

Brooklyn Investment Group lifted its position in Republic Services, Inc. (NYSE:RSG) by 33.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,841 shares of the business services provider’s stock after purchasing an additional 458 shares during the period. Brooklyn Investment Group’s holdings in Republic Services were worth $446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Elequin Capital LP acquired a new position in shares of Republic Services in the 1st quarter valued at $30,000. Freestone Capital Holdings LLC increased its holdings in Republic Services by 4.9% in the 1st quarter. Freestone Capital Holdings LLC now owns 1,566 shares of the business services provider’s stock worth $379,000 after acquiring an additional 73 shares in the last quarter. Corient IA LLC purchased a new stake in Republic Services in the 1st quarter worth $484,000. Intrepid Financial Planning Group LLC purchased a new stake in Republic Services in the 1st quarter worth $216,000. Finally, Raymond James Financial Inc. increased its holdings in Republic Services by 0.6% in the 1st quarter. Raymond James Financial Inc. now owns 923,979 shares of the business services provider’s stock worth $223,751,000 after acquiring an additional 5,265 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Trading Down 0.2%

Shares of RSG opened at $232.35 on Tuesday. 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 $197.60 and a 12-month high of $258.75. The firm has a 50-day moving average price of $241.28 and a 200 day moving average price of $240.26. The firm has a market capitalization of $72.55 billion, a P/E ratio of 34.37, a P/E/G ratio of 3.63 and a beta of 0.60.

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

Republic Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be paid a dividend of $0.625 per share. 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. The ex-dividend date of this dividend is Thursday, October 2nd. Republic Services’s payout ratio is 34.32%.

Wall Street Analyst Weigh In

RSG has been the subject of several recent analyst reports. William Blair reissued an “outperform” rating on shares of Republic Services in a report on Friday, April 25th. Royal Bank Of Canada reissued an “outperform” rating and issued a $266.00 price target on shares of Republic Services in a report on Friday, April 25th. National Bank Financial raised shares of Republic Services to a “hold” rating in a report on Monday, May 26th. Wall Street Zen cut shares of Republic Services from a “buy” rating to a “hold” rating in a research report on Saturday, May 24th. Finally, BMO Capital Markets increased their target price on shares of Republic Services from $280.00 to $284.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Nine analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Republic Services presently has a consensus rating of “Moderate Buy” and an average target price of $262.17.

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.