Tocqueville Asset Management L.P. Sells 2,459 Shares of Republic Services, Inc. (NYSE:RSG)

Tocqueville Asset Management L.P. lessened its stake in Republic Services, Inc. (NYSE:RSG) by 0.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 381,065 shares of the business services provider’s stock after selling 2,459 shares during the period. Republic Services accounts for 1.5% of Tocqueville Asset Management L.P.’s portfolio, making the stock its 12th largest holding. Tocqueville Asset Management L.P.’s holdings in Republic Services were worth $92,279,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC raised its position in shares of 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 acquiring an additional 106 shares during the last quarter. Capital Management Associates Inc bought a new stake in shares of Republic Services in the 1st quarter valued at $314,000. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Republic Services by 0.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 563,253 shares of the business services provider’s stock valued at $136,397,000 after buying an additional 4,110 shares in the last quarter. Sowell Financial Services LLC bought a new stake in shares of Republic Services in the 1st quarter valued at $260,000. Finally, GAMMA Investing LLC increased its position in shares of Republic Services by 61.6% in the 1st quarter. GAMMA Investing LLC now owns 9,193 shares of the business services provider’s stock valued at $2,226,000 after buying an additional 3,503 shares in the last quarter. Institutional investors own 57.73% of the company’s stock.

Republic Services Trading Up 0.2%

Republic Services stock opened at $232.88 on Friday. The firm has a 50-day moving average of $241.62 and a 200-day moving average of $239.81. Republic Services, Inc. has a one year low of $197.60 and a one year high of $258.75. 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 company has a market cap of $72.71 billion, a price-to-earnings ratio of 34.45, a P/E/G ratio of 3.63 and a beta of 0.60.

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

Republic Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, October 2nd. This is a positive change from Republic Services’s previous quarterly dividend of $0.58. Republic Services’s payout ratio is currently 34.32%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RSG. Royal Bank Of Canada restated an “outperform” rating and issued a $266.00 price objective on shares of Republic Services in a research report on Friday, April 25th. Seaport Res Ptn upgraded shares of Republic Services to a “strong-buy” rating in a research report on Tuesday, May 6th. Scotiabank upped their price objective on shares of Republic Services from $250.00 to $260.00 and gave the company a “sector perform” rating in a research report on Friday, July 18th. JPMorgan Chase & Co. upped their price objective 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. Finally, Truist Financial upped their price objective on shares of Republic Services from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, April 22nd. Nine investment 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $262.17.

Republic Services 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.