Burney Co. Sells 391 Shares of Republic Services, Inc. (NYSE:RSG)

Burney Co. decreased its position in Republic Services, Inc. (NYSE:RSG) by 5.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 6,271 shares of the business services provider’s stock after selling 391 shares during the period. Burney Co.’s holdings in Republic Services were worth $961,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Bangor Savings Bank increased its holdings in Republic Services by 210.5% during the 2nd quarter. Bangor Savings Bank now owns 177 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 120 shares during the period. Horizons Wealth Management bought a new position in Republic Services in the 2nd quarter worth $31,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Republic Services in the 1st quarter worth about $34,000. TCI Wealth Advisors Inc. boosted its position in Republic Services by 242.7% during the 1st quarter. TCI Wealth Advisors Inc. now owns 281 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 199 shares in the last quarter. Finally, Colonial Trust Co SC raised its holdings in Republic Services by 147.4% in the first quarter. Colonial Trust Co SC now owns 282 shares of the business services provider’s stock worth $38,000 after purchasing an additional 168 shares in the last quarter. 57.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wolfe Research initiated coverage on shares of Republic Services in a research report on Tuesday, October 17th. They set a “peer perform” rating for the company. StockNews.com assumed coverage on Republic Services in a research note on Thursday, October 5th. They issued a “buy” rating on the stock. UBS Group upgraded Republic Services from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $155.00 to $175.00 in a research note on Monday, October 23rd. BMO Capital Markets increased their target price on Republic Services from $158.00 to $160.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 1st. Finally, Royal Bank of Canada lifted their target price on shares of Republic Services from $163.00 to $166.00 and gave the stock a “sector perform” rating in a report on Monday, October 2nd. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $160.36.

Republic Services Price Performance

NYSE RSG opened at $158.91 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.58 and a quick ratio of 0.58. Republic Services, Inc. has a 1-year low of $120.58 and a 1-year high of $160.04. The stock has a market capitalization of $50.00 billion, a price-to-earnings ratio of 30.74, a PEG ratio of 2.88 and a beta of 0.67. The business’s fifty day moving average price is $148.61 and its 200-day moving average price is $147.65.

Republic Services (NYSE:RSG) last announced its earnings results on Thursday, October 26th. The business services provider reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.13. Republic Services had a return on equity of 16.81% and a net margin of 11.17%. The business had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.81 billion. During the same period last year, the firm posted $1.34 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities analysts predict that Republic Services, Inc. will post 5.47 earnings per share for the current year.

Republic Services announced that its board has approved a stock repurchase program on Thursday, October 26th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the business services provider to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Republic Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd will be given a $0.535 dividend. The ex-dividend date is Friday, December 29th. This represents a $2.14 annualized dividend and a yield of 1.35%. Republic Services’s payout ratio is presently 41.39%.

Republic Services Profile

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States. 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.