Edgestream Partners L.P. Lowers Stock Position in Republic Services, Inc. $RSG

Edgestream Partners L.P. trimmed its stake in Republic Services, Inc. (NYSE:RSG) by 47.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 6,840 shares of the business services provider’s stock after selling 6,099 shares during the period. Edgestream Partners L.P.’s holdings in Republic Services were worth $1,687,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Ignite Planners LLC lifted its stake in Republic Services by 2.8% during the second quarter. Ignite Planners LLC now owns 1,562 shares of the business services provider’s stock worth $376,000 after purchasing an additional 43 shares in the last quarter. Gries Financial LLC raised its holdings in shares of Republic Services by 3.8% in the 2nd quarter. Gries Financial LLC now owns 1,249 shares of the business services provider’s stock valued at $308,000 after buying an additional 46 shares during the period. TD Private Client Wealth LLC lifted its stake in Republic Services by 17.8% during the 2nd quarter. TD Private Client Wealth LLC now owns 305 shares of the business services provider’s stock worth $75,000 after acquiring an additional 46 shares in the last quarter. Empirical Finance LLC boosted its holdings in Republic Services by 0.7% during the 2nd quarter. Empirical Finance LLC now owns 7,232 shares of the business services provider’s stock valued at $1,783,000 after acquiring an additional 47 shares during the period. Finally, McGlone Suttner Wealth Management Inc. grew its position in Republic Services by 2.1% in the 2nd quarter. McGlone Suttner Wealth Management Inc. now owns 2,387 shares of the business services provider’s stock valued at $589,000 after acquiring an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Stock Performance

NYSE:RSG opened at $216.49 on Friday. Republic Services, Inc. has a 12 month low of $199.43 and a 12 month high of $258.75. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a market capitalization of $67.02 billion, a PE ratio of 32.22, a price-to-earnings-growth ratio of 3.44 and a beta of 0.54. The business’s fifty day moving average price is $216.65 and its 200 day moving average price is $231.88.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Friday, October 31st. The business services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.12. Republic Services had a return on equity of 18.24% and a net margin of 12.77%.The business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.25 billion. During the same period in the prior year, the firm posted $1.81 EPS. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Friday, January 2nd will be given 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%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Jefferies Financial Group set a $248.00 price target on shares of Republic Services and gave the stock a “buy” rating in a research report on Monday, November 3rd. Oppenheimer set a $256.00 target price on shares of Republic Services in a report on Friday, October 31st. Robert W. Baird set a $240.00 price objective on Republic Services in a research report on Friday, October 31st. JPMorgan Chase & Co. reduced their price objective on Republic Services from $260.00 to $233.00 and set a “neutral” rating on the stock in a research note on Friday, October 31st. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Republic Services in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $250.45.

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.