Mizuho Securities USA LLC Sells 3,039 Shares of Republic Services, Inc. (NYSE:RSG)

Mizuho Securities USA LLC decreased its position in shares of Republic Services, Inc. (NYSE:RSG) by 15.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,253 shares of the business services provider’s stock after selling 3,039 shares during the period. Mizuho Securities USA LLC’s holdings in Republic Services were worth $3,936,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its holdings in Republic Services by 3,533.3% during the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider’s stock valued at $26,000 after buying an additional 106 shares in the last quarter. TCTC Holdings LLC grew its holdings in Republic Services by 113.8% during the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider’s stock valued at $30,000 after buying an additional 66 shares in the last quarter. Key Financial Inc grew its holdings in Republic Services by 380.8% during the 1st quarter. Key Financial Inc now owns 125 shares of the business services provider’s stock valued at $30,000 after buying an additional 99 shares in the last quarter. Cheviot Value Management LLC purchased a new stake in Republic Services during the 1st quarter valued at approximately $49,000. Finally, Park Square Financial Group LLC purchased a new stake in Republic Services during the 4th quarter valued at approximately $44,000. Institutional investors own 57.73% of the company’s stock.

Republic Services Stock Performance

RSG stock opened at $235.36 on Monday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66. The business has a 50-day moving average price of $243.75 and a 200 day moving average price of $239.49. The company has a market capitalization of $73.48 billion, a P/E ratio of 34.82, a PEG ratio of 3.67 and a beta of 0.60. Republic Services, Inc. has a 1-year low of $197.60 and a 1-year high of $258.75.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.01. The firm had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.26 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.61 earnings per share. As a group, equities research analysts forecast that Republic Services, Inc. will post 6.86 EPS for the current fiscal year.

Republic Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd will be issued a $0.625 dividend. The ex-dividend date is Thursday, October 2nd. This is an increase from Republic Services’s previous quarterly dividend of $0.58. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. Republic Services’s dividend payout ratio is presently 36.98%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Republic Services from a “buy” rating to a “hold” rating in a report on Saturday, May 24th. Truist Financial raised their target price on shares of Republic Services from $250.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, April 22nd. Scotiabank raised their target price on shares of Republic Services from $250.00 to $260.00 and gave the company a “sector perform” rating in a report on Friday, July 18th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $266.00 price objective on shares of Republic Services in a research note on Friday, April 25th. Finally, Citigroup lifted their price objective on shares of Republic Services from $265.00 to $278.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Nine investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $262.17.

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.