ABC Arbitrage SA Takes $5.38 Million Position in Republic Services, Inc. $RSG

ABC Arbitrage SA purchased a new position in Republic Services, Inc. (NYSE:RSG) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 25,362 shares of the business services provider’s stock, valued at approximately $5,375,000.

A number of other hedge funds have also recently bought and sold shares of the business. Laurel Wealth Advisors LLC purchased a new stake in Republic Services during the 4th quarter worth approximately $25,000. Wealth Watch Advisors INC acquired a new stake in shares of Republic Services during the third quarter worth approximately $26,000. Annis Gardner Whiting Capital Advisors LLC increased its stake in shares of Republic Services by 121.8% in the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 122 shares of the business services provider’s stock worth $28,000 after buying an additional 67 shares during the last quarter. Ameriflex Group Inc. acquired a new stake in Republic Services in the third quarter valued at $29,000. Finally, Sound Income Strategies LLC bought a new position in Republic Services during the 4th quarter valued at $32,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Stock Performance

Shares of NYSE RSG opened at $197.43 on Tuesday. The company has a quick ratio of 0.64, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. The firm’s 50-day moving average price is $216.68 and its two-hundred day moving average price is $215.33. Republic Services, Inc. has a 52-week low of $196.41 and a 52-week high of $258.75. The stock has a market capitalization of $61.00 billion, a P/E ratio of 28.32, a P/E/G ratio of 3.32 and a beta of 0.43.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Thursday, May 7th. The business services provider reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.06. The business had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.10 billion. Republic Services had a return on equity of 18.57% and a net margin of 13.00%.The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.58 EPS. As a group, sell-side analysts forecast that Republic Services, Inc. will post 7.22 earnings per share for the current year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Thursday, July 2nd. Republic Services’s dividend payout ratio (DPR) is presently 36.15%.

Wall Street Analyst Weigh In

RSG has been the subject of several research analyst reports. Weiss Ratings downgraded shares of Republic Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Robert W. Baird decreased their price target on Republic Services from $242.00 to $240.00 and set a “neutral” rating for the company in a research note on Thursday, April 16th. Oppenheimer lowered their price objective on Republic Services from $256.00 to $255.00 and set an “outperform” rating for the company in a report on Friday, January 23rd. Royal Bank Of Canada increased their target price on Republic Services from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Scotiabank lowered their price target on Republic Services from $246.00 to $242.00 and set a “sector perform” rating for the company in a report on Wednesday, January 21st. Eleven investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $246.30.

Republic Services Company Profile

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.