Millburn Ridgefield LLC DE Takes Position in Republic Services, Inc. (NYSE:RSG)

Millburn Ridgefield LLC DE bought a new position in Republic Services, Inc. (NYSE:RSG) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 901 shares of the business services provider’s stock, valued at approximately $218,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. USA Financial Formulas boosted its holdings in shares of Republic Services by 55.7% in the 1st quarter. USA Financial Formulas now owns 2,353 shares of the business services provider’s stock worth $570,000 after purchasing an additional 842 shares in the last quarter. CX Institutional lifted its position in Republic Services by 10.8% in the 1st quarter. CX Institutional now owns 2,346 shares of the business services provider’s stock worth $568,000 after buying an additional 228 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Republic Services by 1.4% in the first quarter. Assenagon Asset Management S.A. now owns 5,724 shares of the business services provider’s stock worth $1,386,000 after buying an additional 81 shares in the last quarter. MV Capital Management Inc. grew its position in Republic Services by 447.8% during the first quarter. MV Capital Management Inc. now owns 630 shares of the business services provider’s stock valued at $153,000 after acquiring an additional 515 shares during the last quarter. Finally, Trueblood Wealth Management LLC raised its stake in shares of Republic Services by 15.5% during the first quarter. Trueblood Wealth Management LLC now owns 10,497 shares of the business services provider’s stock worth $2,542,000 after acquiring an additional 1,409 shares in the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Argus set a $260.00 price objective on shares of Republic Services in a research note on Tuesday, February 18th. JPMorgan Chase & Co. upped their price target on shares of Republic Services from $229.00 to $275.00 and gave the company a “neutral” rating in a research report on Friday, May 23rd. National Bank Financial upgraded Republic Services to a “hold” rating in a report on Monday, May 26th. BMO Capital Markets reissued an “outperform” rating and issued a $280.00 target price (up previously from $268.00) on shares of Republic Services in a research note on Monday. Finally, Robert W. Baird raised their price target on Republic Services from $232.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, April 25th. Ten 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $252.68.

Republic Services Price Performance

Shares of RSG stock opened at $247.98 on Wednesday. The business’s fifty day moving average is $246.41 and its 200 day moving average is $229.37. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. The stock has a market cap of $77.49 billion, a price-to-earnings ratio of 38.21, a PEG ratio of 3.64 and a beta of 0.63. Republic Services, Inc. has a twelve month low of $185.07 and a twelve month high of $258.75.

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

Republic Services Announces Dividend

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 0.94%. The ex-dividend date is Wednesday, July 2nd. Republic Services’s dividend payout ratio (DPR) 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.