HM Payson & Co. Lowers Holdings in Republic Services, Inc. (NYSE:RSG)

HM Payson & Co. cut its position in Republic Services, Inc. (NYSE:RSG) by 2.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 3,127 shares of the business services provider’s stock after selling 71 shares during the quarter. HM Payson & Co.’s holdings in Republic Services were worth $757,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Versant Capital Management Inc lifted its stake in Republic Services by 0.4% in the 1st quarter. Versant Capital Management Inc now owns 9,973 shares of the business services provider’s stock worth $2,415,000 after purchasing an additional 44 shares in the last quarter. Silvercrest Asset Management Group LLC lifted its stake in Republic Services by 0.5% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 8,648 shares of the business services provider’s stock worth $1,740,000 after purchasing an additional 46 shares in the last quarter. Elevation Point Wealth Partners LLC increased its holdings in shares of Republic Services by 4.2% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 1,154 shares of the business services provider’s stock worth $279,000 after buying an additional 46 shares during the last quarter. FORA Capital LLC increased its holdings in shares of Republic Services by 0.7% in the 4th quarter. FORA Capital LLC now owns 7,659 shares of the business services provider’s stock worth $1,541,000 after buying an additional 50 shares during the last quarter. Finally, Rothschild Investment LLC increased its holdings in shares of Republic Services by 9.3% in the 1st quarter. Rothschild Investment LLC now owns 599 shares of the business services provider’s stock worth $145,000 after buying an additional 51 shares during the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RSG has been the topic of a number of research analyst reports. Citigroup increased their price target on shares of Republic Services from $265.00 to $278.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Morgan Stanley increased their price target 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. National Bank Financial raised shares of Republic Services to a “hold” rating in a report on Monday, May 26th. Scotiabank increased their target price on shares of Republic Services from $233.00 to $250.00 and gave the company a “sector perform” rating in a report on Tuesday, April 8th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Republic Services in a report on Wednesday, April 16th. Ten equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Republic Services has an average rating of “Moderate Buy” and an average price target of $252.68.

Republic Services Trading Up 1.5%

NYSE:RSG opened at $241.14 on Friday. The company has a 50-day moving average price of $248.98 and a 200-day moving average price of $233.53. Republic Services, Inc. has a 12 month low of $188.82 and a 12 month high of $258.75. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.10. The stock has a market cap of $75.36 billion, a price-to-earnings ratio of 36.37, a P/E/G ratio of 3.69 and a beta of 0.61.

Republic Services (NYSE:RSG) last posted its earnings results 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. Republic Services had a net margin of 12.88% and a return on equity of 18.28%. The firm had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same period last year, the company posted $1.45 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities analysts predict that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Wednesday, July 2nd will be given a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $2.32 annualized dividend and a dividend yield of 0.96%. Republic Services’s dividend 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.