Baird Financial Group Inc. Increases Position in Republic Services, Inc. $RSG

Baird Financial Group Inc. increased its position in Republic Services, Inc. (NYSE:RSG) by 12.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 137,182 shares of the business services provider’s stock after acquiring an additional 15,477 shares during the period. Baird Financial Group Inc.’s holdings in Republic Services were worth $33,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in RSG. Cranbrook Wealth Management LLC lifted its holdings in shares of Republic Services by 1,222.2% during the second quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider’s stock worth $29,000 after purchasing an additional 110 shares during the period. NewSquare Capital LLC raised its position in Republic Services by 68.5% during the 2nd quarter. NewSquare Capital LLC now owns 123 shares of the business services provider’s stock worth $30,000 after buying an additional 50 shares during the last quarter. Elequin Capital LP acquired a new stake in Republic Services during the 1st quarter valued at approximately $30,000. Foster Dykema Cabot & Partners LLC purchased a new stake in shares of Republic Services in the 2nd quarter valued at $33,000. Finally, Atticus Wealth Management LLC acquired a new stake in shares of Republic Services in the second quarter worth $39,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Wall Street Analyst Weigh In

RSG has been the topic of several recent research reports. Citigroup lowered their price target on shares of Republic Services from $280.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th. Scotiabank dropped their target price on Republic Services from $250.00 to $246.00 and set a “sector perform” rating on the stock in a report on Friday, October 31st. UBS Group reduced their price target on Republic Services from $260.00 to $240.00 and set a “neutral” rating for the company in a research report on Thursday, October 16th. Barclays began coverage on Republic Services in a research report on Friday, September 19th. They issued an “equal weight” rating and a $240.00 price objective on the stock. Finally, Stifel Nicolaus cut their target price on shares of Republic Services from $257.00 to $251.00 and set a “buy” rating for the company in a report on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, Republic Services has an average rating of “Moderate Buy” and an average price target of $250.45.

Republic Services Trading Up 0.6%

Shares of RSG stock opened at $216.49 on Friday. Republic Services, Inc. has a fifty-two week low of $199.43 and a fifty-two week high of $258.75. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.58 and a current ratio of 0.58. The stock’s fifty day moving average is $216.65 and its two-hundred day moving average is $231.88. The firm has a market capitalization of $67.02 billion, a P/E ratio of 32.22, a PEG ratio of 3.44 and a beta of 0.54.

Republic Services (NYSE:RSG) last issued its earnings results on Friday, October 31st. The business services provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.12. The business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.25 billion. Republic Services had a net margin of 12.77% and a return on equity of 18.24%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.81 earnings per share. Research analysts expect that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Friday, January 2nd will be issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, January 2nd. Republic Services’s payout ratio is currently 37.20%.

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.