Miracle Mile Advisors LLC Increases Stake in Republic Services, Inc. (NYSE:RSG)

Miracle Mile Advisors LLC grew its position in Republic Services, Inc. (NYSE:RSG) by 15.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,444 shares of the business services provider’s stock after buying an additional 473 shares during the period. Miracle Mile Advisors LLC’s holdings in Republic Services were worth $834,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Republic Services during the 4th quarter valued at $553,039,000. GAMMA Investing LLC boosted its position in shares of Republic Services by 39,024.4% during the first quarter. GAMMA Investing LLC now owns 2,226,177 shares of the business services provider’s stock valued at $539,091,000 after buying an additional 2,220,487 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Republic Services in the 4th quarter worth about $184,827,000. Price T Rowe Associates Inc. MD raised its position in Republic Services by 10.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,317,804 shares of the business services provider’s stock worth $1,069,836,000 after buying an additional 499,237 shares during the last quarter. Finally, Alyeska Investment Group L.P. lifted its stake in Republic Services by 170.6% during the 4th quarter. Alyeska Investment Group L.P. now owns 584,345 shares of the business services provider’s stock valued at $117,559,000 after acquiring an additional 368,395 shares during the period. Institutional investors own 57.73% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on RSG shares. UBS Group boosted their price objective on shares of Republic Services from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Friday, April 11th. Seaport Res Ptn raised Republic Services to a “strong-buy” rating in a report on Tuesday, May 6th. Robert W. Baird lifted their price objective on Republic Services from $232.00 to $245.00 and gave the stock a “neutral” rating in a report on Friday, April 25th. Argus set a $260.00 price objective on Republic Services in a research report on Tuesday, February 18th. Finally, CIBC raised Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 target price on the stock in a research report on Tuesday, March 4th. Ten analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $252.68.

Republic Services Stock Performance

RSG opened at $249.38 on Tuesday. The company has a 50 day simple moving average of $246.42 and a two-hundred day simple moving average of $229.24. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64. The firm has a market cap of $77.93 billion, a P/E ratio of 38.42, a PEG ratio of 3.64 and a beta of 0.63. Republic Services, Inc. has a 1-year low of $185.07 and a 1-year high of $258.75.

Republic Services (NYSE:RSG) last issued its earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.05. The company had revenue of $4.01 billion during 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%. Republic Services’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.45 EPS. Equities analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 2nd will be paid a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $2.32 annualized dividend and a yield of 0.93%. Republic Services’s payout ratio is 34.99%.

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.