Republic Services, Inc. (NYSE:RSG) Shares Purchased by HB Wealth Management LLC

HB Wealth Management LLC increased its holdings in Republic Services, Inc. (NYSE:RSG) by 95.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,473 shares of the business services provider’s stock after purchasing an additional 13,913 shares during the quarter. HB Wealth Management LLC’s holdings in Republic Services were worth $6,895,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Golden State Wealth Management LLC grew its stake in 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 acquiring an additional 106 shares during the period. Key Financial Inc lifted its holdings in Republic Services by 380.8% during the first quarter. Key Financial Inc now owns 125 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 99 shares in the last quarter. New Age Alpha Advisors LLC grew its position in shares of Republic Services by 70.2% in the fourth quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 73 shares during the period. Park Square Financial Group LLC purchased a new stake in shares of Republic Services during the fourth quarter worth about $44,000. Finally, Proathlete Wealth Management LLC acquired a new position in shares of Republic Services during the 1st quarter worth about $76,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Trading Down 0.0%

NYSE RSG opened at $245.01 on Friday. 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 stock has a market capitalization of $76.57 billion, a P/E ratio of 36.95, a PEG ratio of 3.72 and a beta of 0.61. The firm’s 50-day moving average is $247.36 and its two-hundred day moving average is $237.59. Republic Services, Inc. has a 12 month low of $188.82 and a 12 month high of $258.75.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.53 by $0.05. The firm had revenue of $4.01 billion for the quarter, compared to analyst estimates of $4.08 billion. Republic Services had a net margin of 12.88% and a return on equity of 18.28%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.45 EPS. On average, sell-side analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be given a dividend of $0.625 per share. This is a positive change from Republic Services’s previous quarterly dividend of $0.58. This represents a $2.50 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Thursday, October 2nd. Republic Services’s dividend payout ratio (DPR) is currently 34.99%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Melius Research upgraded Republic Services to a “hold” rating and set a $281.00 price objective for the company in a research note on Monday, June 9th. Morgan Stanley boosted their price target on Republic Services from $230.00 to $245.00 and gave the stock an “equal weight” rating in a research report on Friday, April 25th. Citigroup raised their price objective on Republic Services from $265.00 to $278.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. National Bank Financial raised shares of Republic Services to a “hold” rating in a report on Monday, May 26th. Finally, Wall Street Zen downgraded shares of Republic Services from a “buy” rating to a “hold” rating in a research note on Saturday, May 24th. Ten equities research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $258.16.

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.