Sterling Investment Management LLC Lowers Holdings in Republic Services, Inc. (NYSE:RSG)

Sterling Investment Management LLC decreased its position in Republic Services, Inc. (NYSE:RSG) by 3.0% in the first quarter, Holdings Channel reports. The firm owned 6,054 shares of the business services provider’s stock after selling 187 shares during the period. Sterling Investment Management LLC’s holdings in Republic Services were worth $1,466,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of RSG. Norges Bank purchased a new position in shares of Republic Services in the 4th quarter valued at $553,039,000. GAMMA Investing LLC boosted its position in shares of Republic Services by 39,024.4% in the 1st quarter. GAMMA Investing LLC now owns 2,226,177 shares of the business services provider’s stock worth $539,091,000 after purchasing an additional 2,220,487 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Republic Services in the 4th quarter worth $184,827,000. Price T Rowe Associates Inc. MD boosted its position in shares of Republic Services by 10.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,317,804 shares of the business services provider’s stock worth $1,069,836,000 after purchasing an additional 499,237 shares in the last quarter. Finally, Alyeska Investment Group L.P. lifted its position in Republic Services by 170.6% during the 4th quarter. Alyeska Investment Group L.P. now owns 584,345 shares of the business services provider’s stock worth $117,559,000 after acquiring an additional 368,395 shares during the period. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Analyst Ratings Changes

RSG has been the subject of a number of research reports. Argus set a $260.00 price target on Republic Services in a research report on Tuesday, February 18th. Seaport Res Ptn raised Republic Services to a “strong-buy” rating in a research report on Tuesday, May 6th. BMO Capital Markets reissued an “outperform” rating and issued a $280.00 price objective (up previously from $268.00) on shares of Republic Services in a report on Monday. The Goldman Sachs Group boosted their price objective on Republic Services from $239.00 to $265.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Finally, Melius Research raised Republic Services to a “hold” rating and set a $281.00 price objective for the company in a report on Monday. Ten equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $252.68.

Republic Services Stock Up 0.1%

RSG opened at $248.14 on Thursday. The business’s 50-day simple moving average is $246.67 and its 200-day simple moving average is $229.50. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. Republic Services, Inc. has a one year low of $185.07 and a one year high of $258.75. The stock has a market capitalization of $77.54 billion, a P/E ratio of 38.23, a price-to-earnings-growth ratio of 3.64 and a beta of 0.63.

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 analysts’ consensus estimates of $1.53 by $0.05. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The business had revenue of $4.01 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the previous year, the firm earned $1.45 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. Analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 2nd will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Wednesday, July 2nd. Republic Services’s dividend payout ratio is presently 34.99%.

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.