Elequin Capital LP Takes $30,000 Position in Republic Services, Inc. $RSG

Elequin Capital LP acquired a new stake in Republic Services, Inc. (NYSE:RSG) in the 1st quarter, Holdings Channel reports. The firm acquired 125 shares of the business services provider’s stock, valued at approximately $30,000.

Several other hedge funds and other institutional investors have also made changes to their positions in RSG. Brighton Jones LLC boosted its stake in shares of Republic Services by 75.8% in the 4th quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider’s stock valued at $3,988,000 after buying an additional 8,547 shares during the period. Guggenheim Capital LLC boosted its stake in shares of Republic Services by 13.9% in the 4th quarter. Guggenheim Capital LLC now owns 14,855 shares of the business services provider’s stock valued at $2,989,000 after buying an additional 1,809 shares during the period. NewEdge Advisors LLC raised its position in shares of Republic Services by 2.4% during the 4th quarter. NewEdge Advisors LLC now owns 27,604 shares of the business services provider’s stock worth $5,553,000 after acquiring an additional 646 shares in the last quarter. Marshall Wace LLP raised its position in shares of Republic Services by 225.8% during the 4th quarter. Marshall Wace LLP now owns 78,624 shares of the business services provider’s stock worth $15,818,000 after acquiring an additional 54,490 shares in the last quarter. Finally, Capital International Sarl raised its position in shares of Republic Services by 34.8% during the 4th quarter. Capital International Sarl now owns 2,963 shares of the business services provider’s stock worth $596,000 after acquiring an additional 765 shares in the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Trading Up 0.2%

NYSE:RSG opened at $232.88 on Monday. The firm has a market cap of $72.71 billion, a P/E ratio of 34.45, a PEG ratio of 3.63 and a beta of 0.60. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.04. The stock’s 50 day simple moving average is $241.62 and its 200-day simple moving average is $240.15. Republic Services, Inc. has a 12-month low of $197.60 and a 12-month high of $258.75.

Republic Services (NYSE:RSG) last released its earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.01. The business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.26 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.61 earnings per share. Equities analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Increases Dividend

The business 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. The ex-dividend date of this dividend is Thursday, October 2nd. This is an increase from Republic Services’s previous quarterly dividend of $0.58. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.1%. Republic Services’s dividend payout ratio is presently 34.32%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RSG. Raymond James Financial raised their target price on Republic Services from $257.00 to $260.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 22nd. Melius Research raised Republic Services to a “hold” rating and set a $281.00 target price on the stock in a research report on Monday, June 9th. Wall Street Zen lowered Republic Services from a “buy” rating to a “hold” rating in a research report on Saturday, May 24th. Oppenheimer raised their target price on Republic Services from $262.00 to $268.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 9th. Finally, Morgan Stanley raised their target price on Republic Services from $230.00 to $245.00 and gave the stock an “equal weight” rating in a research report on Friday, April 25th. Nine research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.