Bowen Hanes & Co. Inc. Increases Stock Holdings in Republic Services, Inc. $RSG

Bowen Hanes & Co. Inc. raised its stake in Republic Services, Inc. (NYSE:RSG) by 5.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 237,260 shares of the business services provider’s stock after purchasing an additional 12,500 shares during the period. Republic Services accounts for about 1.6% of Bowen Hanes & Co. Inc.’s holdings, making the stock its 28th biggest position. Bowen Hanes & Co. Inc. owned 0.08% of Republic Services worth $57,455,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its position in shares of Republic Services by 75.8% during the fourth quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider’s stock worth $3,988,000 after acquiring an additional 8,547 shares during the last quarter. Marshall Wace LLP grew its position in shares of Republic Services by 225.8% during the fourth 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 during the last quarter. Capital International Inc. CA grew its position in shares of Republic Services by 31.2% during the fourth quarter. Capital International Inc. CA now owns 15,827 shares of the business services provider’s stock worth $3,184,000 after acquiring an additional 3,762 shares during the last quarter. MetLife Investment Management LLC grew its position in shares of Republic Services by 1.5% during the fourth quarter. MetLife Investment Management LLC now owns 53,904 shares of the business services provider’s stock worth $10,844,000 after acquiring an additional 803 shares during the last quarter. Finally, Natixis lifted its holdings in shares of Republic Services by 259.2% during the fourth quarter. Natixis now owns 9,782 shares of the business services provider’s stock worth $1,968,000 after purchasing an additional 7,059 shares during the period. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on RSG. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $266.00 price target on shares of Republic Services in a report on Friday, April 25th. Robert W. Baird increased their price target on Republic Services from $232.00 to $245.00 and gave the stock a “neutral” rating in a report on Friday, April 25th. Oppenheimer increased their price target on Republic Services from $262.00 to $268.00 and gave the stock an “outperform” rating in a report on Wednesday, July 9th. Wall Street Zen downgraded Republic Services from a “buy” rating to a “hold” rating in a report on Saturday, May 24th. Finally, Truist Financial increased their price target on Republic Services from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, April 22nd. Nine research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $262.17.

Republic Services Trading Down 0.2%

NYSE:RSG opened at $232.35 on Tuesday. The company has a market capitalization of $72.55 billion, a PE ratio of 34.37, a price-to-earnings-growth ratio of 3.63 and a beta of 0.60. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a 52-week low of $197.60 and a 52-week high of $258.75. The stock has a fifty day simple moving average of $241.28 and a 200-day simple moving average of $240.26.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.01. The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.26 billion. Republic Services had a return on equity of 18.27% and a net margin of 12.97%. The business’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.61 EPS. On average, equities research 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 declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders 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 of this dividend is Thursday, October 2nd. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. Republic Services’s dividend payout ratio is presently 34.32%.

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.