Wedge Capital Management L L P NC Reduces Stake in Republic Services, Inc. (NYSE:RSG)

Wedge Capital Management L L P NC reduced its position in Republic Services, Inc. (NYSE:RSG) by 2.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,794 shares of the business services provider’s stock after selling 1,232 shares during the period. Wedge Capital Management L L P NC’s holdings in Republic Services were worth $11,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Republic Services by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 18,590,728 shares of the business services provider’s stock worth $3,740,083,000 after buying an additional 144,719 shares during the last quarter. Pictet Asset Management Holding SA lifted its position in Republic Services by 3.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 6,262,325 shares of the business services provider’s stock valued at $1,259,855,000 after purchasing an additional 218,729 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Republic Services by 10.4% during the fourth 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 purchasing an additional 499,237 shares in the last quarter. Geode Capital Management LLC lifted its position in Republic Services by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 4,565,137 shares of the business services provider’s stock valued at $918,045,000 after purchasing an additional 57,616 shares in the last quarter. Finally, Norges Bank purchased a new position in Republic Services during the fourth quarter valued at $553,039,000. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Republic Services Trading Down 0.1%

Shares of RSG stock opened at $252.93 on Monday. Republic Services, Inc. has a 12-month low of $185.07 and a 12-month high of $258.75. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04. The stock’s 50-day moving average price is $246.33 and its 200-day moving average price is $229.01. The stock has a market capitalization of $79.04 billion, a price-to-earnings ratio of 38.97, a price-to-earnings-growth ratio of 3.64 and a beta of 0.63.

Republic Services (NYSE:RSG) last issued its earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.05. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The firm had revenue of $4.01 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same period in the previous year, the firm posted $1.45 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. Equities research analysts predict that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Wednesday, July 2nd will be issued a $0.58 dividend. The ex-dividend date is Wednesday, July 2nd. This represents a $2.32 annualized dividend and a dividend yield of 0.92%. Republic Services’s dividend payout ratio (DPR) is 34.99%.

Analysts Set New Price Targets

RSG has been the topic of several analyst reports. BMO Capital Markets lifted their target price on Republic Services from $260.00 to $268.00 and gave the company an “outperform” rating in a research report on Friday, April 25th. Truist Financial lifted their target price on Republic Services from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, April 22nd. Wall Street Zen downgraded Republic Services from a “buy” rating to a “hold” rating in a research report on Saturday, May 24th. William Blair reissued an “outperform” rating on shares of Republic Services in a report on Friday, April 25th. Finally, CIBC raised Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 price target on the stock in a report on Tuesday, March 4th. Eight 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $250.44.

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.