Cumberland Partners Ltd Sells 800 Shares of Republic Services, Inc. (NYSE:RSG)

Cumberland Partners Ltd lessened its position in shares of Republic Services, Inc. (NYSE:RSG) by 6.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 10,900 shares of the business services provider’s stock after selling 800 shares during the quarter. Cumberland Partners Ltd’s holdings in Republic Services were worth $2,640,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RSG. Golden State Wealth Management LLC increased its position 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 purchasing an additional 106 shares during the period. Key Financial Inc increased its position 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 purchasing an additional 99 shares during the period. TCTC Holdings LLC increased its position 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 purchasing an additional 66 shares during the period. New Age Alpha Advisors LLC increased its position in Republic Services by 70.2% during the 4th quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 73 shares during the period. Finally, Park Square Financial Group LLC acquired a new stake in Republic Services during the 4th quarter valued at approximately $44,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Price Performance

Shares of RSG opened at $231.24 on Friday. Republic Services, Inc. has a 12-month low of $193.75 and a 12-month high of $258.75. The business’s fifty day moving average is $245.82 and its 200 day moving average is $238.39. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.04. The stock has a market cap of $72.20 billion, a P/E ratio of 34.21, a P/E/G ratio of 3.60 and a beta of 0.60.

Republic Services (NYSE:RSG) last issued 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. Republic Services had a return on equity of 18.27% and a net margin of 12.97%. The business had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.26 billion. During the same period last year, the business earned $1.61 EPS. The business’s revenue was up 4.6% on a year-over-year basis. Sell-side analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be paid a dividend of $0.625 per share. This is a boost from Republic Services’s previous quarterly dividend of $0.58. The ex-dividend date is Thursday, October 2nd. This represents a $2.50 annualized dividend and a yield of 1.1%. Republic Services’s dividend payout ratio (DPR) is 34.32%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. BMO Capital Markets reissued an “outperform” rating and set a $284.00 target price (up previously from $280.00) on shares of Republic Services in a research report on Wednesday. Melius Research raised shares of Republic Services to a “hold” rating and set a $281.00 price objective for the company in a research report on Monday, June 9th. Morgan Stanley raised their price objective on shares of Republic Services from $230.00 to $245.00 and gave the stock an “equal weight” rating in a research report on Friday, April 25th. Citigroup raised their price objective on shares of Republic Services from $265.00 to $278.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Finally, Robert W. Baird raised their price objective on shares of Republic Services from $232.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Republic Services presently has an average rating of “Moderate Buy” and a consensus target price of $258.89.

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.