ETF Store Inc. Lowers Stock Holdings in Republic Services, Inc. (NYSE:RSG)

ETF Store Inc. trimmed its holdings in Republic Services, Inc. (NYSE:RSG) by 2.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,613 shares of the business services provider’s stock after selling 49 shares during the quarter. ETF Store Inc.’s holdings in Republic Services were worth $391,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several research analysts have commented on the stock. Seaport Res Ptn upgraded shares of Republic Services to a “strong-buy” rating in a research report on Tuesday, May 6th. 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 report on Friday, April 11th. William Blair reaffirmed an “outperform” rating on shares of Republic Services in a research report on Friday, April 25th. Scotiabank upped their price target on shares of Republic Services from $250.00 to $260.00 and gave the company a “sector perform” rating in a report on Friday. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $280.00 target price (up previously from $268.00) on shares of Republic Services in a research note on Monday, June 9th. Ten 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $255.74.

Republic Services Stock Up 0.1%

RSG stock traded up $0.18 on Friday, reaching $240.35. 1,338,092 shares of the company traded hands, compared to its average volume of 1,160,185. The company has a market cap of $75.11 billion, a P/E ratio of 36.25, a price-to-earnings-growth ratio of 3.63 and a beta of 0.61. Republic Services, Inc. has a one year low of $188.82 and a one year high of $258.75. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a fifty day simple moving average of $247.26 and a 200-day simple moving average of $235.94.

Republic Services (NYSE:RSG) last issued its quarterly earnings results 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. The company had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.88%. Republic Services’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the company earned $1.45 earnings per share. Research analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 2nd were issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 0.97%. The ex-dividend date was Wednesday, July 2nd. Republic Services’s payout ratio 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.