Hilton Capital Management LLC lifted its position in Republic Services, Inc. (NYSE:RSG) by 13.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 308,483 shares of the business services provider’s stock after buying an additional 35,681 shares during the period. Republic Services makes up about 3.1% of Hilton Capital Management LLC’s portfolio, making the stock its 6th largest position. Hilton Capital Management LLC owned approximately 0.09% of Republic Services worth $20,857,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Patten Group Inc. grew its position in shares of Republic Services by 279.6% in the 3rd quarter. Patten Group Inc. now owns 18,789 shares of the business services provider’s stock worth $327,000 after buying an additional 13,839 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Republic Services by 9.0% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,624 shares of the business services provider’s stock worth $1,230,000 after purchasing an additional 1,544 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in Republic Services during the 3rd quarter worth approximately $1,897,000. CGOV Asset Management grew its position in Republic Services by 25.0% during the 4th quarter. CGOV Asset Management now owns 10,000 shares of the business services provider’s stock worth $846,000 after purchasing an additional 2,000 shares during the last quarter. Finally, California Public Employees Retirement System grew its position in Republic Services by 2.1% during the 3rd quarter. California Public Employees Retirement System now owns 920,619 shares of the business services provider’s stock worth $60,816,000 after purchasing an additional 19,306 shares during the last quarter. 61.06% of the stock is currently owned by hedge funds and other institutional investors.
Shares of RSG stock opened at $68.58 on Wednesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.55 and a current ratio of 0.55. Republic Services, Inc. has a 12-month low of $60.26 and a 12-month high of $69.40. The firm has a market cap of $22,724.56, a P/E ratio of 28.12, a price-to-earnings-growth ratio of 2.18 and a beta of 0.55.
Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, February 8th. The business services provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.57 by $0.04. Republic Services had a net margin of 12.73% and a return on equity of 10.61%. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the previous year, the business posted $0.57 EPS. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. equities analysts expect that Republic Services, Inc. will post 3.08 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Monday, April 2nd will be paid a dividend of $0.345 per share. This represents a $1.38 annualized dividend and a yield of 2.01%. The ex-dividend date is Thursday, March 29th. Republic Services’s payout ratio is 36.41%.
In other Republic Services news, CAO Brian A. Goebel sold 1,220 shares of Republic Services stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $68.06, for a total transaction of $83,033.20. Following the completion of the sale, the chief accounting officer now directly owns 7,406 shares in the company, valued at approximately $504,052.36. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ramon A. Rodriguez sold 4,000 shares of Republic Services stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $66.27, for a total transaction of $265,080.00. Following the sale, the director now owns 4,118 shares of the company’s stock, valued at $272,899.86. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,128 shares of company stock valued at $1,553,897. Company insiders own 0.40% of the company’s stock.
Several analysts have weighed in on RSG shares. Zacks Investment Research raised shares of Republic Services from a “hold” rating to a “buy” rating and set a $76.00 target price on the stock in a research report on Monday, January 22nd. Bank of America boosted their target price on shares of Republic Services from $70.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Credit Suisse Group dropped their target price on shares of Republic Services from $67.00 to $64.00 and set a “neutral” rating on the stock in a research report on Monday, February 12th. UBS started coverage on shares of Republic Services in a research report on Wednesday, March 14th. They set a “buy” rating and a $78.00 target price on the stock. Finally, BMO Capital Markets dropped their target price on shares of Republic Services from $74.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. Republic Services presently has a consensus rating of “Hold” and an average target price of $69.75.
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Republic Services Profile
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.
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